Saturday, August 1, 2015

Another example of how, even well intentioned reforms, make a market based economic model go crazy.

This New York Times article provides ample proof of what I was talking about in my "The Chinese economy and the panic of political leadership" post. When you mess with the Troika of profits, prices or wages you are asking for nothing but a lot of trouble.

The real question, however, here is that there is a need to have a way to better apply value to things. There is a need to have a better way for all of us to be connected in not only how production decisions are made, but in how the fabric of that production is maintained. And there is a further need to make livelihoods disconnected from singular forms of production so that anything that might pose a threat to us or the environment doesn't automatically unemploy thousands when it must be stopped.

That list could go on. The point is that electrified Capitalism isn't capable of addressing those needs anymore. It had its day. It did truly raise the material well being of vast swaths of population across the globe. It did this at a staggering price, but it did do it. Now its time to let it go and find a new way to proceed. In a sense it is long past time to put away childish things and become a mature species.

A Company Copes With Backlash Against the Raise That Roared