Is Semco Socialism?

The latest death toll figures from Hurricane Katrina can be seen on this website here. The famous Russian neo-Nazi video is on this blog here.

Updated September 2:

Is this socialism?

A Brazilian company, Semco, has adopted an anarcho-syndicalist style of organization and has been growing for decades. Workers hire and fire management and agree on management's salaries. Workers set their own salaries and hours. 25% of profits go back to workers. Workers hire and fire their own. There are no job titles. Every worker gets to see the company's books.

It's supposed to be anarcho-syndicalist style of management, but I'm not even sure what anarcho-syndicalism is, even after reading this article.

Even if it's not socialism, it sounds like it's a heck of a lot better than what we have.

From Monday Memo, a management website. Hat tip Entitled To An Opinion. TGGP, at ETAO, asks if this works so great, why don't profit-maximizing corporations adopt it.

In the comments, Kevin Carson says the corporations are not really profit-maximizing, they are out for short-term profits and care nothing about the long term health of the company. The company may as well be sold off to some junk bond guy who strips the assets, fires everyone and pockets the cash. Or it's going to get bought out by someone else down the road.

You have to wonder if capitalism is such a wonder machine, why do capitalists wreck their own companies for short-term profits and Wall Street gains while ruining the long-term profits of the enterprise?

Why do they seem to care nothing about the long term interests of the company such that they would just as soon sell it to someone else to do God knows what with, or auction it off in an LBO to some junk-bond guy who specializes in cannibalizing companies and leaving piles of bones? What's so great about this "magic hand of the market" crap anyway? It's good for making money. So? So's slinging crack on the corner.

Note: Readers should carefully read the Commenting Rules before commenting to avoid having their comments edited or deleted and to avoid being banned from the site.