The Decline of Entrepreneurial Capitalism

What do the following have in common:interested than ever in investing in America. But
Budweiser Beer; CITGO gasoline; Good Humor,the reality of increasing foreign ownership in the
Ben and Jerry's, and Breyer's ice creams; French'sU.S. suggests that we need to re-look at the
mustard; Frigidaire refrigerators; Adidas andrelationship between our government and
Reebok shoes; New York's Plaza Hotel andincreasingly powerful multinational corporations.
Chrysler Building; Caribou Coffee and Church'sWhen the Supreme Court ruled in 1886 in Santa
Chicken; Trader Joe's; 7-Eleven; Holiday Inn; DialClara County v. Southern Pacific Railroad, a case
Soap; T-Mobile; Firestone tires; the Sunglass Hut;dealing with taxation of railroad properties by the
the Indiana Toll Road - part of the interstateState of California, the court set the precedent
Route 80; and Toll House Cookies? The answer isthat corporations are entitled to the same
that each of these seemingly American brandsprotection as individuals under the Fourteenth
and assets is actually owned and controlled by aAmendment to the U.S. Constitution. In its ruling
foreign corporation. The selling off of the Unitedearlier this year striking down federal election law,
States of America has been going on for somethe court further expanded its 1886 ruling by
time, and foreign owned corporations now controlextending First Amendment rights to corporations
50% or more of many important US industries:and unions, including multinational corporations
* Sound recording industries - 97%controlled by non-US citizens and foreign
* Commodity contracts dealing and brokerage -governments.
79%Most Americans seem not to realize that their
* Motion picture and sound recording industries -rights as Americans are being increasingly ceded
75%to multinational corporations. The oil industry, the
* Metal ore mining - 65%health insurance and pharmaceutical industries, the
* Motion picture and video industries - 64%food industry, the banking and financial industries -
* Wineries and distilleries - 64%all of these are largely beyond the control of the
* Database, directory, and other publishers - 63%any government entity. Despite the harm they
* Book publishers - 63%cause. The federal court ruling in the case of the
* Cement, concrete, lime, and gypsum productionObama Administration's deep water off-shore
- 62%drilling moratorium is but the latest evidence of
* Engine, turbine and power transmissionthe increasing reach of corporations. The Interior
equipment - 57%Department moratorium applied to only 33 deep
* Rubber - 53%water well projects and there are more than
* Nonmetallic mineral product manufacturing -3500 wells currently in production in the Gulf of
53%Mexico. Even in the event of catastrophic damage
* Plastics and rubber products manufacturing -to the health, property, and livelihoods of many
52%thousands who live and work in the Gulf,
* Plastics - 51%corporate power rules.
* Other insurance related activities - 51%Isn't it time we took a new look at corporations
* Boiler, tank, and shipping containers - 50%having the same rights as individuals? With their
And as borrowing by Americans continues - bytremendous resource advantage, corporations not
individuals, businesses, and governments - and asonly have the same rights but it can be argued
trade deficits continue unabated, our country isthey have far greater rights. We are no longer
literally being sold out from under us. The goodtalking entrepreneurial capitalism, we are talking
news is that the world seems to be moreinternational capitalism. They are not the same.