Chapter Two however starts with one of the best quotes I have ever seen:
To be successful, keep looking tanned, live in an elegant building (even if you're in the cellar), be seen in smart restaurants (even if you nurse one drink) and if you borrow, borrow big.
-Aristotle Onassis
Seldom have I seen a business/political philosophy so diametrically opposed to mine stated so clearly. And exemplars abound - think Angelo Mozilo in American finance or Andrew Peacock in Australian politics.
Just a fabulous quote and a world view that seems to work for the people who hold it if not for the rest of us...
J
Excellent John,
ReplyDeleteJust need a dose of bread and circuses for the 'sheeple' and the illusion is complete!
Another quote that sticks in the memory is one made by a major US cable industry executive*:
ReplyDelete"It is better to pay interest on loans than taxes on profits"
* If anyone can remember his name, I'd be much obliged. His company had a massive, debt-fuelled, expansion in the mid-1990s, cabling up large areas of the mid-west of the US (IIRC).
Your worldview would not pay off very well in a world without people like Onassis. Takes all kinds to make an economic ecosystem in which you are able to thrive...
ReplyDeleteTo some, success is only true if found in the eyes of others. It's a shame, really.
ReplyDelete------
OT: That cable company sounds a lot like Adelphia, owned by the Rigas Family.
John Rigas was sentenced to 15 years for Fraud in 2005.
john, Any thoughts on TSL Q3
ReplyDeleteThere is another view on all this.
ReplyDeleteThe real problem in that country is that the politicians liked to spend up big, so as to buy votes, using borrowings and EU largesse at every opportunity.
Of course, the treasury officials, being the gutless careerists that they are, sat back and did nothing to stop this madness. Indeed, they conspired with the politicians to cook the books.
Naturally, the public service did very well in terms of pay-rises, promotions and pensions. And, frankly, some of them did even better out of widespread corruption.
As to the latter, one reason why tax collections are so poor is that the tax inspectors routinely settle disputes by accepting bribes of 30-40% of the disputed taxes, on the basis that only say 10-20% of the taxes in question are paid to the treasury.
With that sort of system in place, is it any wonder that the general populace takes a cynical view as to their tax obligations?
Many of the problems in that country could be addressed by dealing appropriately with the public service. Some sackings would be in order. Say, 10,000 or so, for a start.
Perhaps that philosophy is successful for .001% of those who try it.
ReplyDeleteOr maybe Onassis got lucky and thinks the result was due to his philosophy, or intelligence, or some other non-random factor.
I find of a bit of a stretch to say that because Greece was once ruled by the Ottomans, they now feel it is OK to not pay their taxes. This looks like post hoc reasoning of the worst sort.
ReplyDeleteThe simpler explanation is that well off Greeks knew they could probably get away with tax evasion, and did so.
I agree with Anonymous - a few sackings are in order here. The corruption and incompetence should not be pardoned.
My favorite Andrew Peacock story:
ReplyDeleteWhen asked about Andrew Peacock's prospects for election as leader of the opposition, Prime Minister Paul Keating observed that a soufflé doesn't rise twice.
Here's a link to a recent Reuters report as to official corruption in Greece:
ReplyDeletehttp://www.reuters.com/article/2012/07/24/us-greece-works-idUSBRE86N0BH20120724
This is just the tip of the iceberg, but it provides an illustration of how the Greek public servants operate.
So, to be successful in Greece, you have to have a nice government job which gives you the opportunity to fleece the mugs who pay your salary.