Wednesday, July 18, 2012

A moral economy is within our grasp

A true economic foundation that will be humane and sustainable is embedded in social responsibilities and concern for a greater good and community well being. Not profit, but over all welfare of the community. We have a narrow interpretation of a market economy that lets investors off the hook for their self-indulgent narcissism, avarice, and faith in an economic system that will breed poverty, exploitation and despair. An immoral economy that has always failed with out continual big government intervention because it does not work and that it can be repaired is the lie we are forced to swallow. In the private sector bureaucracy is even more recalcitrant than the public sector because of its lack of accountability. Ever deal with private insurance? Even though I am a fan of the public sector and think it should be greatly expanded. Bring back the WPA. To the public employees social needs are more central to the economic concerns of the people than profit. Work is driven by concerns for social responsibility and community protections.  Having said that I imagine that the issue should be democracy not bureaucracy. Private investments should be carried out with public responsibilities being most important. The first concern should always be would it provide good jobs with good wages and benefits. Secondly will it provide the general public with affordable, safe, and reliable goods and services? Profits then and only then should be considered. What is needed is a radical and militant rank and file run unions, with in your face shop stewards, Civil rights advocacy groups, civil libertarians, environmentalists, feminists, consumer groups, community rights and client rights action groups as a real power to be dealt with in managing the economy. True economic democracy requires no less.

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