All the world's a stage, and all the men and women merely players.
William Shakespeare
CHAPTER 34
E_MAIL
FROM J Neil Gibson.
TO Fairdale Hobbs.
Fairy. I've had a look at the LSE Peacock Theatre. I thought our Grim little Prof could do a speal there? Camera angles and lights look easy. What about an audience? Real or Virtual? Not sure if we need applause though. Maybe just him speaking to an empty theatre? Voice in the wilderness?
How about this for a voice over? I've edited something our Prof did in Oxford a while back. Needs a bit more oomph but it's got a nice anti government angle I think we could encourage. Get a bit of notoriety.
Please welcome Professor Grimsby Roylot
Gentlemen. Thank you.
If you will forgive me, I will start with a little history.
Back in Medieval Times the British Government recognised that land and wealth were not continually held by one family. Land was always being sold off or traded. The great families seldom lasted more than three centuries and there was opportunity for new families to start the road to fortune.
The only exception to this was the church. People gave land to the church and they held it fore ever. So the Statutes of Mortmain were introduced in 1279 forbidding any more land gifts to the church.
The resultant freeing up of resources may have contributed to Britain’s eighteenth century wealth, compared to other European countries, and even to the Industrial Revolution.
The recycling of wealth continued with families only lasting a short while. The saying was “Clogs to Clogs in Three Generations.”
Then the corporation was invented. The corporation did not die. It became an international entity, self perpetuating and often immune to government legislation.
But change came. Corporate raiders came into being. They would buy control of large old conglomerates. They would split up and sell off assets. They would mortgage assets. They would sell off and lease back assets. They would dump the dead wood. They would increase efficiency. They would hire more workers. They would generate huge amounts of money in the short term. Workers got a pay rise. Directors got massive payouts. Shareholders got increased dividends.
Then at the end of the process, the debt ridden, empty hulk of the corporation would be sold off cheap, perhaps to some third world mogul seeking a foothold in Europe.
The original directors and shareholders would take their money and retire.
So far so good.
Britain retains a vibrant financial economy. Fortunes are generated and spent. In the long term the whole nation benefits.
But alas, these same
asset stripping principles were applied to Government. Different
departments pretended to be corporations. They paid each other
pretend money. Assets were sold off. New assets were built in public
private partnership. Assets were leased or rented back from the
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