Monday, September 15, 2008

today : Why the Republican colour is red

Here are the fundamental lies at the heart of monetarist freemarket economics. The government wants no taxes, apart from when they want to spend them on a war. The government believes in small government - hands off business - unless it means subsidising businesses such as defence contractors, or oil conglomerates or car-makers, or any business that might lose votes if it closes. The same goes with regulation and free-trade. The freemarketeers want totally open borders, apart from when it suits them to raise tariffs in order to protect profits.

In the 1980s Reaganomicists lined up to diss Russia as 'evil' At the heart of Communist economics is nationalisation of capital. In fact, the term 'left wing' in the USA and even much of Europe is a term of abuse.

But how can we describe the bailing out of investment banks and using the public funds to underpin mortgage companies? Surely the market can sort these things out? After all, we have been told endlessly for the past 30 years that the market is king and should be left alone.

Nationalisation: isn't that one of the basic tenets of communism?

No comments:

Post a Comment