“The twentieth century has been characterized by three developments of great political importance: the growth of democracy; the growth of corporate power and the growth of corporate propaganda as a means of protecting corporate power against democracy”.
On Thursday April 6th Peter Brabeck-Letmathe, 72 years old, attended for the last time the Nestlé General Assembly as Chair of the Board. He worked 50 years for Nestlé, 20 years as Chair of the Board. Nobody can deny that he is a very intelligent man and a brilliant strategist, always ready to defend his ideas in the public arena. He has been so often in films and the media in general that he became a kind of celebrity among CEOs. He and his fellow countryman Arnold Schwarzenegger, with whom he shares much in common, are probably the most well known contemporary Austrians in the world. Their view on Economy and Politics seem to come as a natural birth right directly from the Austrian School of Economics which emerged in Vienna by the end of the XIX century. According to economist Michael Hudson, the Austrian School of Economics surged as “a reaction against socialist reforms. Opposing public regulations and ownership, the Austrian School created a parallel universe in which governments did not appear except as a burden (…)”
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