Bring back the light

Bring in the new?

  • The power of Governments comes primarily from the Oligarchs who fund the Political Parties and heavily influence who gets selected to stand for seats including a large number of “Safe seats” in every country. That alone amounts to Mr Oligarch literally deciding who will be the Members of Parliament for specific constituencies.
  • Next in order of power is ownership and control of the popular media that voters turn to for a hint. The owners of these media buy the specifically for this power and monetise it in various ways other than selling newspapers.
  • Finally there is provision of huge budgets for advertising, PR and other activity to ensure that their favourite candidate is elected.

The roots of modern economics thinking

  1. Some things were understood, but conveniently ignored when the work of these great men was adapted by politicians like Thatcher, Reagan et al.
  2. Some ideas accepted as fact in previous centuries and even some that underpinned pivotal theories are known to be inaccurate, or to have become outdated.
  3. Above all, as these theories were tested in various scenarios, each was twisted and misused to benefit politicians and their wealthy benefactors.

Some notable changes we need to be aware of

Enjoying your freedom?

  1. Would you work every day? Same as now? Less than now? More? Never?
  2. Would you change how you get food on the table and provide?
  3. Would the way you bring up your children change at all?
  4. Would you live in the same place? Country? Continent?
  5. Would you try to accumulate lots of cash?
  6. How much of your time would you dedicate to different things?
  7. What is the biggest change you would make?
  8. What is holding you back right now? Is it real, or imagined? Are you sure you couldn’t just do it if you really tried?
  9. Is everything in your new list of important things available to you via the free market? Could you order it online? Call a service provider? Do it yourself?
  • If not why not?
  • Who would influence you most?
  • Why would it matter?
  • A lot, b A little, c Not at all

Globalisation ouch! But it used to feel great.

  1. When we bring people into our country, wherever that may be, the visitors are entitled to public services. I doubt any mentally healthy person would argue with this. Nobody will take his family to another country where he will be denied healthcare, denied protection by the police and not allowed to educate his children, especially if he is paying local taxes both direct and indirect on top of productivity. No skilled and valuable person will move his family to a hostile environment.
    What really happens of course in most countries is that governments find other ways to spend their revenues and neglect the services, not only failing to cater for this sort of growth, but as in UK for example, allowing services to shrink in real terms year on year and decade on decade in the face of growing population.
    Local people are now struggling to find good schools, queueing for medical care and police response etc and they begin to blame this wrongly on migrant workers, or immigrants, with no discouragement from politicians I might add, but the truth could not be more different. Highly skilled migrants pay a higher net contribution than locals and are entitled to what they receive, but government is happy to take their contributions and fail to meet their commitments.
  2. The laws that bring in highly skilled and much needed workers cannot be prevented from bringing in low-to-no skilled people who are needed in the short term, but then remain and can contribute much less in the medium term, yet also compete for services and for jobs at the lower end where pay is poor and the lower paid locals are already struggling. This leads to resentment and breakdowns in relations.
  3. Importing the goods, but leaving the people offshore doesn’t solve the problem as Americans will attest. The stuff that is made abroad puts people out of jobs back home and the money earned by these workers benefits the offshore economy instead of being spent in the local economy to speed up “velocity” and keep the pot boiling. What is gained with the left is lost with the right and then some, but it at least avoids mistreating people.
  4. Balance and cooperation is the key to prosperity, remember when we talked about this. One of the most vexed mistakes people make about economics is to imagine that a country is a company and that the road to prosperity is to sell lots and buy very little building up a huge surplus. Not quite. There are only a few players in our economy and when one can’t afford to shop that spells trouble for all the rest. The money must move around constantly and there must be balance or jobs disappear fast.

So what could the conclusion be?

  1. My definition of Economics is more realistic:
    “the scientific study of the reactions of members of gangs in regard to the alternative purchases which are employed to satisfy the opinion of their gang”.
  2. Above all we have to accept that Neoliberalism, the belief responsible for the mess we currently have is a failure and needs major revision or probably outright replacement.
  3. Clearly, we need to establish some shared views on economic theories and how they affect all of us and start holding politicians and business leaders to account.
    What could those key principals be?
  4. There is no doubt that global trade is the new internet and it won’t go away, so rather than building walls, we need to understand, regulate and embrace it.
    What might that look like?
  1. Use the gang culture only this time use it to build a gang that won’t stand for this rubbish. Sanctions that don’t starve the poor and membership of a new elite trading club with real benefits would be a great answer.
  2. Make the symbols of membership of this gang integrity and cooperation. Shun those who would ignore our values and celebrate those who are with us.

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Ed has enjoyed a dual career moving backwards and forwards between leadership roles in software engineering and transforming marketing functions.

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Ed has enjoyed a dual career moving backwards and forwards between leadership roles in software engineering and transforming marketing functions.