Alan Kohler is one of Australia’s most experienced commentators and journalists. Alan is the founder of Eureka Report, Australia’s most successful investment newsletter, and Business Spectator, a 24-hour free business news and commentary website. He also hosts Inside Business, a half-hour Sunday programme on the ABC, is the finance presenter on the ABC News - and producer of the nightly graph (or two).
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Comments on this article
Comments PolicyWhy the surprise that the Occupy Wall St movement is not entirely anti-capitalist? 99 per cent of the 99 per cent would no doubt be happy if capitalism simply performed as advertised (Occupy Wall Street's grand irony, October 13).
Leon, your comment about the group being pro-Jobs (steve that is) really comes to the heart of this: the vast majority of the members of many groups like this truly do not understand what it is they are voicing their opinion about.
Simply posing the question of "what do you think would happen if you were to limit CEO's salaries as just as you wish" is usually enough to be given plenty of evidence of this. The protesters in 'occupy wall street' seem completely oblivious to the real forces behind impoverishment and injustice, otherwise they would not be at the rally.
I feel you have touched on an excellent point in marketing – essentially, how campaigns can essentially occur or, reach critical mass if you will. But, this to my mind only raises a bigger question than it answers and that is that a manager needs to truly understand the driving force behind the campaign. In this case it is unfortunately a profound lack of understanding of capitalism and markets/economics.
I think people who note the irony of the Occupy Wall Street protesters using Apple products are really missing the point. The point of the protest is that rent-seeking from wall street banks and financial institutions is shifting the economic sands to the advantage of the already rich (Occupy Wall Street's grand irony, October 13).
I doubt any protester is upset because Jobs or Zuckerburg made money from actually creating new products. But if Facebook or Apple start getting the rules changed in their favour, the mob may very well revolt against them.
Good point Ewan. I thought capitalism meant the strongest survived. These actions of bailing out banks and companies because they are 'too big to fail' is socialism. Indeed, I remember back in the 90s, the Americans told the Japanese they should let their banks fail because that was how capitalism worked. It's different when the shoe is on the other foot. The people protesting are angry because they are being forced to pay for the mistakes of the banks, which have been bailed out (Occupy Wall Street's grand irony, October 13).
As I've always said: If those with all the money don't start sharing with those who have little, it will be taken from them - nothing is more certain (Occupy Wall Street's grand irony, October 13).
The OWS protests are clever progressive nihilism (Occupy Wall Street's grand irony, October 13). The financial bailouts were the policy of progressive parties which is why Wall Street donates to Democrats far more than Republicans. All romantic nihilist movements fade away for their lack of focus and disconnection from reality. Their mastery of the cheap user-friendly social media technology of capitalism is not a sign that the movement has any great substance.
I think irony is the fact the system didn't fail because of the greed of the 1 per cent, it is because of the 99 per cent who borrowed when they couldn't afford it (Occupy Wall Street's grand irony, October 7).
Like the saying you can lead a horse to water (cheap credit) but you can't make it drink (take cheap credit). A bit of self control would have stopped people willingly put money in the pockets of the super rich.
I believe the same goes for Apple products. If only bankers learnt what Jobs knows then people will be lining up at the local bank branch and be twittering their praises!
I don't buy Apple products simply because the premium does not justify the extra simplicity. I use an Android, I keep a slightly longer upgrade cycle and try to make sure items have a dual purpose.