From the Wall Street Journal:
BEIJING — More than a thousand steel workers in China’s northeast staged an at-times violent protest against the planned takeover of their state-run employer and a group of them killed a top executive at the private company that was to acquire it, Chinese state-run media reported.
How nice.
So, a bunch of employees of a state-run steel mill in China weren’t thrilled about the company being privatized…so they killed one of the would-be executives who was taking control of the company. And this was reported by the state-run Chinese media, so if they are copping to one death in the protest, in reality, maybe it was more like 36 or 37 dead.
China still has a long way to go in terms of business ettiquette and so I’ll deliver Lesson #1 in Capitalism for our new friends:
Guys, you don’t kill someone you disagree with in business, you do what any red-blooded American worker would do: You sue the bastard.
That’s how we roll.
There are more people in law school in this country than there are actual practicing lawyers right now. You may ask yourself, “What the hell kind of society are those crazy Americans trying to build for themselves?” The answer is simple: The kind of society where you can sue whoever ticks you off and never have a shortage of attorneys who will take on your ridiculous case.
And not only is this not detrimental to the economy, you could make the case that all of these frivolous class action and civil suits are actually stimulative. I’ll draw you a chart:
You sue someone by first hiring a lawyer. Your lawyer takes the money you pay him and spends it. The person you are suing gives money to his own lawyer for a defense/ counter suit and his lawyer then spends it. Then, after months of court costs, the winner is declared, and his lawyer gets even more money, which can then be spent on the economy or just parlayed into the next lawsuit!
Everyone wins!
So if you work at, say, any decent-sized Chinese industrial concern and you are being victimized by the coming of for-profit capitalism, don’t worry and please don’t murder anybody. You can get your piece of the American Dream too. Just hire a lawyer and sue…that’s literally all we do over here these days and it’s working out well for us so far.
I’m a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them. For disclosure information please see here.
Get a Full Investor Curriculum: Join The Book List
Every month you'll receive 3-4 book suggestions--chosen by hand from more than 1,000 books. You'll also receive an extensive curriculum (books, articles, papers, videos) in PDF form right away.
… [Trackback]
[…] Here you can find 46697 additional Information to that Topic: thereformedbroker.com/2009/07/28/capitalism-lesson-1-dont-kill-anyone-just-sue/ […]
… [Trackback]
[…] Find More Info here to that Topic: thereformedbroker.com/2009/07/28/capitalism-lesson-1-dont-kill-anyone-just-sue/ […]
… [Trackback]
[…] There you will find 65990 more Info to that Topic: thereformedbroker.com/2009/07/28/capitalism-lesson-1-dont-kill-anyone-just-sue/ […]
… [Trackback]
[…] Information to that Topic: thereformedbroker.com/2009/07/28/capitalism-lesson-1-dont-kill-anyone-just-sue/ […]