The Divine Right of Capital
by Marjorie Kelly
Berrett-Koehler Publishers, $24.95, 230 pages, 2001
It’s an old story: the child rebels against a parent and then turns out just like him or her. It can happen to a nation too, as Marjorie Kelly shows in her wonderful new book. The American colonists rejected Mother England and everything it stood for: aristocracy, special privilege, inherited wealth, the divine right of kings. Then they created a republic that—despite their best intentions—bred those very things, in the form of the modern corporation.
This is the back story in the Enron fiasco, the one the mainstream media won’t touch. Sure, we care about shareholders who lost their life savings. But what about the rest of us, our communities, and the planet? Kelly’s title is not facile populism. She means it. The modern corporation and its largest shareholders occupy a place in our society that royalty occupied in the one we supposedly cast off.