Tuesday, 10 October 2017
The Philosophy of Economics.
Economics has spawned the idea that making conditions better for business by deregulation, cutting taxes, cutting red-tape, opposing unions, ignoring corruption, subsidizing corporations, discrediting climate change, and dehumanizing the workplace encourages people to go into business and therefore creates jobs which raises the living standards of everyone.
This may at first seem the great white hope of Western civilization but there are major flaws in the logic.
It fails to take into account the brutality of the business corporations who now own everything.
The Boards of Directors of course will say that they are only serving the interests of the shareholders.
But this is a cop-out.
When unregulated by governments the rapacious greed of corporate businessmen will make them try to force wages down and remove benefits and conditions from workers which cost them money.
So the living standards of the young in particular in fact go down.
This creates a two-tier system in which the rich get richer and the poor get poorer.
The so called trickle-down effect is a lie created by the rich to appease angry workers.
Our governments have betrayed us.
They are captives of the corporate plutocrats.
And I can only surmise that they have corrupted themselves.
So when they trot out glib generalizations you would do well to question them.
They may not be as true as they seem.
Australians now work the longest hours in the developed world and have the highest house prices in the world.
The government has just cut weekend penalty rates.
And they are subsidizing a huge coal mine which will destroy the Great Barrier Reef forever.
The disparity between rich and poor in our world is at the highest level ever.
Economic Rationalism has gone too far.
The time has come to create some checks and balances which halt our declining ethics.
But what politician will stand up to the corporate plutocrats?
They own the media and control public opinion.
Photo Credit: Japanexperterna.se Flickr via Compfight cc