The Powers-That-Be would like us all to believe that capitalism is a natural system and that wealth came into their hands by an entirely organic process, no more complex than the acquisition of nuts by squirrels or carbon dioxide by algae. The earth orbits the sun, the tide goes in and out, and their net worth continues to increase according to similarly unalterable, universal principles.
Through this lens, their positions make a great deal of sense. Why, indeed, should we be entitle to any of their money? What right have we to any portion of the sums amassed by those who, by some combination of inborn ability and hard work, have simply mastered the natural order of the free market? Should we have taken a portion of Einstein's brain and distributed pieces to the village idiot? Should we excise segments of Placido Domingo's vocal folds and implant them into the weakest of American Idol contestants?
Through this lens, any attempt to control, regulate, or stem the natural flow of wealth onto anyone's ledger appears as an attack on the very freedom to seek or gain wealth in the first place. If we allow the billionaire to upset the natural order by sharing even one nickel of his wealth with the destitute street urchin through any sort of government-imposed redistribution scheme, we are opening the door to the slippery slope of moral hazard that may one day lead to having our own dimes and quarters redistributed...should we ever come into possession of real wealth.
The market as a natural system is a myth propagated by people who either intend to mislead or, worse yet, actually believe that their economic impulses are an integral part of that universal order. In reality, any system of currency is a man-made system, subject to man-made flaws and corruptions. Bartering of goods and services is perhaps a step closer to a natural system, but still relies on man-made judgments about the value of those commodities, particularly once you get outside the realm of basic human needs. "I'll plow your field if you'll shoe my horse," is straightforward and "natural" enough. "I'll let you clean my office every night for a weekly salary that is less than I paid for lunch today," is not so clear cut.
No further proof of the market's artificiality is needed than the recent economic collapse. By any standard, the market was enjoying a period of unprecedented deregulation and freedom. The system was given a chance to prove itself without the meddling of non-believers. During that golden age of capitalism the market did something completely organic and totally predictable: It erected a giant, phony sub-system on top of it's own flimsy façade. (Didn't anyone see Gremlins? Don't leave the goddamed Mogwai alone after midnight - especially next to a box of irresistible fried chicken!) The results were not good.
Now, after trillions of dollars of artificial infusions of printed money into their beautiful, natural system, the Powers-That-Be are all scratching their heads and saying "Why can't we go back to the way it was?" They don't see any reason to alter their positions on, say, taxes. "The system is natural again!" "Taxes are an undue burden on the magnificent workings of the system!" "Why should they get any of our money?"
The market is not natural. It is a complex and dynamic man-made structure with moving parts and changing needs. It requires delicate tending, ideological elasticity, and above all, it needs balance. Right now, the problem is very simple: You - the Powers-That-Be - have too much money. Not too much money "for my taste." You simply have too large a share of the wealth for the system to function healthily. That is not the same as saying that you shouldn't have lots and lots of money. You should and you can. You just can't let the scales get this tilted. It's not that I relish the thought of taking it from you now that things are a mess. I just wish you hadn't got carried away in the first place.
So now we're stuck in a vicious circle: We can't buy your stuff because we don't have jobs or our jobs don't pay well enough. You won't create jobs or increase wages until we buy your stuff. Tax revenues are down across the board, but your lobbyists are there to ensure that you won't be asked to fill the gap. Instead, it'll come out of our pockets in one way or another, which means that we'll have even less money to buy your stuff. And so on down the black hole of insanity.
So why are taxes treated differently than the interest rate? Somewhere along the line, it was decided that the interest rate needed detached, calculated manipulation in order to keep things running smoothly. Otherwise, everyone would be screaming "lower interest rates!" at politicians - and politicians would try to comply even when it wasn't in the best interest of the economy or the country. Why can't we think of taxes that way? The market is utterly off-balance right now. Wealth disparity is at an all time high. The rich are sitting on their money. The economy is sputtering along, getting no help from anyone. Why can't we all be mature and acknowledge that it's time to spread some damn wealth around? The market is a machine. Pull the levers, tweak the dials. Get it working again.
Some additional reading/viewing for you:
The New American Dream by William Rivers Pit
Frontline: Inside the Meltdown
The Big Short: Inside the Doomsday Machine by Michael Lewis
And now, some delightful silliness:
No comments:
Post a Comment