Quickypinion: Why Our Economic System is Stupid

Our current economic organizing force is a system which creates a great imbalance in power. It does this by funneling much of what working people produce into the hands of a small power-elite. This power-elite is both motivated and enabled by this enormous wealth to maintain and exacerbate this imbalance-creating system from which they perceive themselves to be profiting (which in many ways they do). This system is the source of Money in Politics.

What is overlooked by most, however – including by the power-elite – is that this system, by dint of its narrow focus on things like social status and wealth, prevents us from properly perceiving and addressing the enormous power that nature exerts over us. Thus we dismally fail to properly deal with natural catastrophes and horrible diseases, as well as the agonizing decrepitude and finite death that comes to all human beings as the few years we have in this world fly by.

Currently even the most privileged among us cannot escape from the dismal fate that comes with aging. Therefore, though they live it up for a while, the power-elite created by this system do ultimately suffer like the rest of us and have mostly themselves to blame for measures not taken against this. This makes our inequality-generating system not only unethical by most people’s standards but – objectively speaking – incredibly STUPID.

Since, furthermore, this incredible stupidity is reflected in – and actively cultivated by – the power-elite, the rest of us are forced to overcome our own blindness, oust the power-elite any way we can, and install a better system.

q.e.d.

Please comment, discuss, and share. If you wish to actually assist me, you can.

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2 thoughts on “Quickypinion: Why Our Economic System is Stupid

  1. The problem lies in the fact that our current fiat currency system and the freedom it offers TO ALL has never been properly implemented.

    “For those struggling with MMT (modern monetary theory), google “money created from thin air”. You’ll get lots of hits, including Bernanke admitting that’s where the $[29] trillion bank bailout came from, and German banks admitting that’s where credit came from.

    There is nothing new about this, it’s been the reality since we all abandoned the gold standard in 1971. Trouble is, the ramifications of abandoning the gold standard and using fiat currency were never explained to the people. And no way were governments captured by Neoliberalism ever going to use fiat currency properly. That is, to serve the majority of society.

    Governments and mainstream neoclassical economics professors continued to explain money as a limited commodity with an external value (like it had with a gold standard) and government budgets as being like household budgets (which they’re not: households can’t create currency out of thin air, but governments can) because it suited laissez-faire, Neoliberal capitalism to keep a huge supply of labor unemployed, underemployed or working poor people, for some perverse, peculiar reason.

    I often suspect governments and politicians don’t understand the ramifications of abandoning the gold standard and using fiat currency themselves. Either that, or they are VERY good actors.” ~ Kathy Heyne

    Here is another excellent viewpoint:

    “China reporting which i follow usually calls for universal human rights and liberal democracy to be established in the PRC. Despite the Guardian’s no doubt good intentions it almost entirely misses the point that both these calls to Western values disguise an attempt to solidify the power of a Chinese and international business elite that have established themselves under the financial deregulation of neoliberalism.

    It would be good for example if readers were introduced more to the complex historical world forces that prevent certain states from achieving their political and economic developmental goals.

    Instead of drumming up hate under the meaningless banner of democracy wouldn’t it be better to redefine democracy on our terms. This would mean firstly being brave enough to admit that our bourgeois democracies are nothing but an illusion that work primarily for the money elites; secondly a proper evaluation of our unstable international system that prevents the establishment of any true democracy; and thirdly a reevaluation of what universal needs are the priority amongst the majority of the non Western world which is certainly social stability, food security and education before any attempt to introduce neoliberal procedural democracy, which as we can clearly see is at its present state merely the best democracy money can buy.

    Trump might seem like a man of the nation but what he essentially is, is a member of the international world 1% neoliberal billionaire class, one who has captured the top position in the prime neoliberal state. At the end of the day first and foremost his class interests will prevail. His empowerment reveals bare the corruption of Western democracy showing it for what it is, a system for the rich run by the rich.

    The only consolation we the people have is that like Bush, Trump is a classic example of a man of average intelligence who inherited his wealth. As such this destroys the propaganda we see in the press of the heroic uber intelligent entrepreneur male deserving of his billions.” ~ Dialectric

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  2. Thanks for this excellent comment. Especially its climax in the last three paragraphs sum up much of what I try to convey to readers of my pieces. 🙂

    I have also written about our the abuses of fiat money (“The Dark Side of Money”), and may do so again. Currently, I am more on the topic of how the despotism in our “private sector” (AKA: capitalism) undermines all hope of a real democracy in the public sector. To have true suffrage in our lives we must install it not only in the public sector but the business sector, as well, lest the latter spoils everything like a rotten apple spoils all the others in a bunch. Once we allow a handful of privileged dominators to decide on the distribution of the wealth we all create through our work, we are doomed, whether they use work-place stealing of surplus or monetization games on stock markets. It’s a tough one to get through people’s heads hardened by a century of propaganda, false narratives, and even warping of our vocabulary.

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