Magazine article Tikkun

Letters to the Editor

Magazine article Tikkun

Letters to the Editor

Article excerpt

Shareholder Rights

To the Editor:

Marjorie Kelly's "The Divine Right of Capital" (July/August 2000) does a fine job of exposing many myths trumpeted by today's corporations. But she perpetuates one: that shareholders "extract wealth" from large corporations. Actually, corporations distribute almost nothing to shareholders, as today's puny (or non-existent) dividend rates demonstrate. Corporations accumulate wealth for themselves. If shareholders "extract wealth" from owning stock they get it from other "investors" who buy their stock, sometimes in bank financed buyouts. Kelly's reticence is understandable. If shareholders realized how close to a Ponzi scheme the stock market really is, they might precipitate the crisis Kelly prophesies.

GEORGE B. DRIESEN

Chevy Chase, MD

Civil Rights

To the Editor:

After being inspired by Michael Lerner's " Emancipatory Spirituality" (May/June 2000), I was dismayed by two other articles that appeared in the same issue dealing with African Americans. The first, a sympathetic book review by Jim Blight of Paul Wachtel's Race in the Mind of America, seemed to endorse a "balanced" view of racism that holds both the oppressors (whites) and the oppressed (blacks) responsible for the origins, maintenance, and elimination of the oppression.

Make no mistake, individual blacks certainly need to work on the internalized effects of having been oppressed. However, racism is a "one way" system of domination by a privileged group, whites. We have the responsibility to give up those privileges, and abolish the system of domination.

The last thing we need is another ostensibly "reasonable," "thoughtful" allocation of any, much less 50 percent of the blame on victims.

The second article was yet another "nuanced," analytical, detached attack on a black man, this time a review of a movie and book about Ruben "Hurricane" Carter by Mark Jacobson. …

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