Sunday, July 26, 2009

More on the "Science" of Economics.

During the last Presidential campaign, the nation was treated to one of those so-called stimulating debates that the so-called conservative right is famous for, namely, "the redistribution of wealth".
That sterotypical American, 'Joe The Plumber", with the overt assistance of the teat-sucking media, reminded us all how much we hate the concept of distributing the wealth of America because of its ugly dirty association with that well-known European evil called SOCIALISM.
As often happens in moments like these, I find myself asking questions of myself that no one else seems to ask.  Here are some:  isn't all our wealth redistributed one way or another?  And isn't the redistribution of America's wealth controlled by the corporations and the government working together?   Isn't the trickle-down theory a form of wealth redistribution?
Isn't wealth redistributed daily in the form of setting prices, wages, salaries, bonuses, and, yes, Golden Parachutes?
When CEO's move our factories overseas, aren't they redistributing America's wealth, and yours , and mine?
So, we are not really talking about Socialism here, are we?  No, we are talking about keeping the redistribution of wealth in the same hands where it has been since the birth of the Nixon Administration.
So, how well is it going?  Here's one answer.  
In the 1960's, it was still possible to say that a hard-working enterprising young person could 'work his or her way through college'.  That was a famous American story, revered and justly so.  But it is long gone now.
Today, graduates begin life with an onerous debt.  This is the new American story.  This is the New Capitalism at work.  Or is it the New World Order?

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