Al Gore takes aim at "unsustainable" capitalism

[dmcowen674]

Has anything this guy said ever actually get done?

He is clearly a 1%er that should have just slipped out of the public limelight.

Unlike Carter who has been an absolute Saint since held office.

2-16-2012

http://news.yahoo.com/al-gore-takes-aim-unsustainable-capitalism-164819308.html

Al Gore takes aim at "unsustainable" capitalism


Former U.S. Vice President Al Gore wants to end the default practice of quarterly earnings guidance and explore issuing loyalty-driven securities as part of an overhaul of capitalism which he says has turned many of the world's largest economies into hotbeds of irresponsible short-term investment.

Together with David Blood, senior partner of 'green' fund firm Generation Investment Management, the environmental activist has crafted a blueprint for "sustainable capitalism" he wants the financial industry to adopt to support lasting economic growth.

At a briefing ahead of Thursday's launch, David Blood said capitalism has been blighted with short-termism and an obsession with instant investment results, which had ramped up market volatility, widened the gap between rich and poor and deflected attention from the deepening climate crisis.


The former CEO of Goldman Sachs Asset Management put forward five key actions which he hoped would revive the discussion on how to clean up capitalism and put companies, investors and stakeholders on the path towards long-term, sustainable profit.

COMPENSATION AND LOYALTY
To offset the disproportional influence of short-term traders like hedge funds on global markets, Generation has proposed the issuance of loyalty-driven securities to reward investors who nurture real business growth by holding a company's shares for a number of years.


The blueprint also recommends significant changes in corporate compensation structures, putting more emphasis on bonuses linked to multi-year performance instead of individual fiscal years.


Gore said pension funds had a vital role to play in coaxing their managers to make longer-term investment decisions, which by extension, could result in a healthier society and planet.

 

[BoberFett]

He's not wrong, short term thinking is destructive to capitalism.

He'll probably be wrong on the remedy, but he's right about the diagnosis.

 

[Anarchist420]

The fact that he's advised by Goldman Sachs should tell people that Al Gore is not on the side of the people.

Al Gore's one of the most retarded, over-confident Presidential candidates ever.

 

[bfdd]

He's not wrong, short term thinking is destructive to capitalism.

He'll probably be wrong on the remedy, but he's right about the diagnosis.

So true. Sacrificing the long term for the short term is rather anti-capitalism and seems more a symptom of utilitarianism.

 

[Steeplerot]

So true. Sacrificing the long term for the short term is rather anti-capitalism and seems more a symptom of utilitarianism.

In other words Capitalism itself (neo-liberalism) is unsustainable in the long term. No need to mince words comrade.

 

[BoberFett]

In other words Capitalism itself (neo-liberalism) is unsustainable in the long term. No need to mince words comrade.

Incorrect. The kind of crony capitalism we practice in this country with all of it's government entanglements and corruption is unsustainable. It's as unsustainable as your beloved communism, comrade.

 

[momeNt]

no such thing as unsustainable capitalism. Only unsustainable corporatism, welfarism, empiricism.

 

[bfdd]

In other words Capitalism itself (neo-liberalism) is unsustainable in the long term. No need to mince words comrade.

Definition of Capitalism: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market

And we've all accepted that a core principle of Capitalism is profit seeking or demand. Short term gains that sacrifice long term profit are anti-capitalism. They would most likely fit into utilitarian urges or ideals of the person involved and have absolutely nothing to do with Capitalism. No where in the definition of Capitalism does any complaint in this thread fit, the complaints deal with the flaws of man.

 

[Bacstar]

Has anything this guy said ever actually get done?

He is clearly a 1%er that should have just slipped out of the public limelight.

Unlike Carter who has been an absolute Saint since held office.

2-16-2012

http://news.yahoo.com/al-gore-takes-aim-unsustainable-capitalism-164819308.html

Al Gore takes aim at "unsustainable" capitalism


Former U.S. Vice President Al Gore wants to end the default practice of quarterly earnings guidance and explore issuing loyalty-driven securities as part of an overhaul of capitalism which he says has turned many of the world's largest economies into hotbeds of irresponsible short-term investment.

Together with David Blood, senior partner of 'green' fund firm Generation Investment Management, the environmental activist has crafted a blueprint for "sustainable capitalism" he wants the financial industry to adopt to support lasting economic growth.

So when's the new movie come out, and how much money is Al Gore going to make off this???

 

[The-Noid]

Can he take a stab at unsustainable government as well?

Unsustainable government and unsustainable capitalism are equally at fault.

 

[Craig234]

So when's the new movie come out, and how much money is Al Gore going to make off this???

How dare he not work for free to serve the public, the son of a bitch? Why can't he make his millions screwing the public like Republican heroes?

 

[Craig234]

Can he take a stab at unsustainable government as well?

Unsustainable government and unsustainable capitalism are equally at fault.

No, they're not. False equivalence. What is the moderate fetish with the word equal?

Cigarettes and drunk driving are both bad, so they're equal. Voter fraud and illegal campaign donations are both bad, so they're equally bad. And so on.

Gore did a couple major things about 'unsustainable government' with no credit from the right.

Such as the efficiency commission as VP, and wanting to end SS trust fund borrowing.

His Vice Presidency was also during the eight year period of reducing the deficit every year to the point we had a balanced budget - much more sustainable.

There's more, but you are not interested, you just want to attack him.

 

[Craig234]

no such thing as unsustainable capitalism. Only unsustainable corporatism, welfarism, empiricism.

Of course there is. Unregulated capitalism is a total disaster with a few getting everything leading to widespred suffering and either tyranny or revolution.

 

[The-Noid]

No, they're not. False equivalence. What is the moderate fetish with the word equal?

Cigarettes and drunk driving are both bad, so they're equal. Voter fraud and illegal campaign donations are both bad, so they're equally bad. And so on.

Gore did a couple major things about 'unsustainable government' with no credit from the right.

Such as the efficiency commission as VP, and wanting to end SS trust fund borrowing.

His Vice Presidency was also during the eight year period of reducing the deficit every year to the point we had a balanced budget - much more sustainable.

There's more, but you are not interested, you just want to attack him.

I would actually like to see his stuff.

Believe it not there are there are some of us in this world that are still left in the middle and not on the left or right.

Government is unsustainable in their spending, capitalism without bounds is unsustainable for the earth, etc.

 

[BoberFett]

A few can only own everything with assistance from the government. Capitalism has it's up and downs, but massive government interference in the market, while initially attractive because of perceived smoothing of economic cycles, eventually grows into an uncontrollable system which destroys itself in a far worse way than capitalism ever could. We find ourselves heading that way now.

 

[TalonStrike]

I guess now that no one cares about global warming anymore, he has to whine about something else to try to feel like he's relevant.

 

[bfdd]

Clearly it's all of the free markets faults Bober. You know how there's free market employment, free market health care, free market food production... oh wait NONE OF THOSE THINGS ARE FREE MARKET. lol @ people bitching about capitalism. You idiots have no clue what the fuck you're talking about.

 

[Craig234]

I guess now that no one cares about global warming anymore, he has to whine about something else to try to feel like he's relevant.

Citizens like you are an argument against democracy.

The only way democracy works is if there aren't many like you.

 

[NeoV]

if this had Newt Gingrich's name attached to it, some people would be hailing this as 'about time'

 

[chucky2]

Why doesn't Gore pick something good and actually obtainable, like reducing population growth, which would at the same time achieve both of his money making and attention whore goals?

Seems like quintuple win to me...

 

[glenn1]

COMPENSATION AND LOYALTY
To offset the disproportional influence of short-term traders like hedge funds on global markets, Generation has proposed the issuance of loyalty-driven securities to reward investors who nurture real business growth by holding a company's shares for a number of years.

"Loyalty-driven securities" that invest in companies for the long-term already exist; they're called "bonds." And if holding equities for a long term results in out-performance, I can guarantee everyone else on the Street will start doing so also. Hell, we've probably have "Al Gore loyalty-driven securities" exchange traded funds popping up if it works.

 

[BoberFett]

"Loyalty-driven securities" that invest in companies for the long-term already exist; they're called "bonds." And if holding equities for a long term results in out-performance, I can guarantee everyone else on the Street will start doing so also. Hell, we've probably have "Al Gore loyalty-driven securities" exchange traded funds popping up if it works.

We saw how bonds work with GM.

The free market was taking GM down.

The government stepped in and said "Fuck you long term investors!"

Yep, the government is the answer, not the problem.

 

[momeNt]

Of course there is. Unregulated capitalism is a total disaster with a few getting everything leading to widespred suffering and either tyranny or revolution.

Baseless.

 

[Craig234]

Baseless.

Clueless. Try monopolies in capitalism for a start.

 

[Ronstang]

Even when a liberal properly diagnoses a condition their idea of the cure is always worse than the disease.