First, Henwood incorrectly refers to "elites" (plural), which is both wrong and distracting of corrective action by average, honest, working class people everywhere.

There is only one singular elite: the power-elite, the economic elite, the guileful global corporate elite Empire, which has hijacked the super-powered military of the US (to control global oil) and stolen the entire US government --- replacing it with the phony charade of this decades old "Vichy America".

Second, the global corporate elite Empire (like all Empires) is a predatory structure which depends entirely on the "Economics of Empire"; a global 'old economy' oily Ponzi scheme which builds and sustains a hierarchy of power and dominating wealth based on the well known market failure of negative externalitzation of costs upon society for its only source of faux-profits.

Third, the most compelling and revealing source that Henwood should have quoted to shed light on this economic Ponzi scheme of negative externalization, are the February reports of CitiGroup, Lehman, and UBS, in which they finally admit:

"The UBS and Lehman Brothers reports concur that climate change represents a classic market failure where company valuations neglect to take into account negative externalizations--in this case, predominantly the emission of carbon dioxide CO2, the primary greenhouse gas (GHG)."

"If climate change, one of the most studied environmental phenomena, represents a market failure, one can only wonder to what degree the legion of lesser-studied environmental and social externalities are not being priced into corporate valuations."

http://www.socialfunds.com/news/article.cgi/2237.html

Alan MacDonald

Sanford, Maine