Bill Mitchell: The neo-liberals talk about the sanctity of ‘markets’ by which they pretend is the ‘invisible hand’ of the price mechanism (demand and supply) that gets rammed down the throats of economics students at universities. That is not remotely what goes on in the economy. Markets are rigged in favour of the top-end-of-town and increasingly, as this research shows to the very top-end. When they talk of market forces they really mean every dirty trick including criminal practices which undermine the capacity of workers to keep their place in the income distribution. A lot happened in the early C20th – trade unions formed and expanded, social democratic parties emerged, and eventually the power of the elites was reduced and the levels of income and wealth inequality fell dramatically. The workers will only be put down for so long. There was a reason why those progressive forces developed back then. The task is to stimulate them again and that will mean ditching the leadership and mechanisms that have evolved to promote leaders of the so-called progressive politics. It means GETTING RID OF NEO-LIBERAL ECONOMICS, THE EURO NATIONS EXITING, THE CORPORATIONS REIGNED IN, AND MOST IMPORTANTLY, DECLARING MOST OF THE FINANCIAL MARKET TRANSACTIONS ILLEGAL (GIVEN THEY DO NOTHING PRODUCTIVE AT ALL). (My capitals.)
Posted on: Sun, 16 Nov 2014 19:20:15 +0000
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