"Many are miserable because they are in love with things that should not be loved, and they become even more miserable when they enjoy them" Saint Augustine
The real origin of the problem is ideological. It's rooted in the prevailing "trickle down" orthodoxy which opposes any increases in wages or benefits for working people. Henry Ford realized what today's captains of industry and finance refuse to accept; that if workers aren't adequately paid for their labor---and wages do not keep pace with production---then the economy cannot grow because consumers do not have the money to buy the things they make. It's just that simple. Greenspan and his ilk believed that they could prosecute the class war and make up the difference by relaxing lending standards, changing bankruptcy laws, and by creating a nearly endless array of exotic financial products that expanded credit. But shifting wealth from one class to another has its costs. By crushing the worker the Friedmanites have killed the golden goose. The world's most prosperous consumer society is in terminal distress and no amount of "free market" gibberish will keep it from crashing.
5 Comments:
The global economy is getting hit hard because of oil costs.
How does that back up your anti-capitalism/america campaign though?
Or do you believe we are the ones orchestrating this.
right on schedule
Noah,
You make me laugh. That is a good thing.
I am going to kill you second to last when I finally snap and go on my killing rampage as payback.
You're the best.
The real origin of the problem is ideological. It's rooted in the prevailing "trickle down" orthodoxy which opposes any increases in wages or benefits for working people. Henry Ford realized what today's captains of industry and finance refuse to accept; that if workers aren't adequately paid for their labor---and wages do not keep pace with production---then the economy cannot grow because consumers do not have the money to buy the things they make. It's just that simple. Greenspan and his ilk believed that they could prosecute the class war and make up the difference by relaxing lending standards, changing bankruptcy laws, and by creating a nearly endless array of exotic financial products that expanded credit. But shifting wealth from one class to another has its costs. By crushing the worker the Friedmanites have killed the golden goose. The world's most prosperous consumer society is in terminal distress and no amount of "free market" gibberish will keep it from crashing.
Mike,
I liked your diatribe.
One question though. What do you mean by "free market gibberish"?
if you are referencing how the government has been patently violating what "free market trade" is then I concur.
If you think America utilizes true free market capitilism then you are way off.
The government has their hands in everything.
A true free market would not bail out the Airlines after 9/11, would not hand money over to nations/businesses that benefit the government, etc.
We are as free market as a mustard fart.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home