Monday, September 28, 2015

A Less Secure and Shrinking Middle Class...

If Western countries want to disprove the dire forecasts of Karl Marx, we must think creatively about how to make the middle class more prosperous and secure

Capitalism is arguably the economic system that has created opportunity for millions, created the greatest wealth of any economic system devised, created the largest middle class ever known to humankind, and improved the quality of life for millions. Even Karl Marx acknowledged that capitalism was the most productive and best economic force (system)designed up his time in history.

Marx also realized that unless the power of capitalism was harnessed and driven to provide growth, security, and benefits for the society as a whole (think successful and growing middle class)at some point in the history of capitalism it would collapse, a result of its own blindness. In other words if capitalism was driven by greed, its focus being to create enormous wealth for the benefit of a miniscule percentage of society, while keeping wages and benefits for everyone else as small as possible, eventually the social and economic upheaval would result in the collapse of capitalism.

Those who are capable of, and willing to move beyond the paradigms they have accepted for years about capitalism, including the false claims of trickle down economic theory, (actually where I was at for some time), and expand their thought process as Marx was able to do in the mid to late 1800's they will see the danger inherent in capitalism because of human motivations and their accompanying behaviors.

The following article was printed in The Wall Street Journal. It is timely and touches on many valid points.

For capitalism to remain a force for growth and wealth creation it must also provide economic opportunity that leads to eventual security that insures social stability for a much larger segment of the population. Really, the health of capitalism depends on a thriving middle class.

Article BELOW THE FOLD.

7 comments:

  1. There is no need to be creative. The roadmap has already been laid out. Just look back at history. It is all there. What's lacking is the will, not the way.

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  2. As always the devil is in the details.

    The ideas of history should provide guidance for the
    future, not neccessarily the precise road map.

    As to will. The system has been skewed (rigged) so that the will of the few is the influence and power

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  3. I think the answer is development. If we can piss away the real estate market to crooked traders we can certainly bring back wide spread development. We have to literally grow. Roads, rails, wires, power, public, public/private, bonds, taxes, fees, whatever you gotta do to get it built. If you build it they will come. We have to grow.

    JMJ

    ReplyDelete
    Replies
    1. Growth that benefits all and improve qualify of life for everyone, not nust CEO's and hedge fund managers etc. Nor should growth be focused on growing the MIC in constant preparation for the next (hoped for) war.

      You make good points Jersey, we should, as a nation of free people, be continually looking for the next growth horizon and where the nation should be investing its resources for the FUTURE of the nation and the planet he live on.

      As a nation we have become stagnant. While CEO's and business looks to the nest quarter results and maximizing profits millions wonder if the next paycheck will cover their rising cost of living.

      Eisenhower built the interstate highway system and Kenedy

      Delete
    2. challenged the nation to send a man to the moon and return him safely home. And we did.

      With the constant negativity of today's politicians, largely the GOP tea party, and the short term mentality of greed rather than interest for the common good, the nation has indeed lost its way. It is not surprising that we find ourselves in our current state. Obama may have not solved all the problems but he sure as hell did not create most of them either.

      Yep, it is time America picks itself up and gets moving again. As one people with a common goal to provide opportunities that will raise all not just the few.

      Delete
  4. Citing Marx to buttress your opinion? Some might say you citing Marx is "yet another low point for a fellow whose entire life has been one giant limbo contest" and that Marx is your hero. Not me, but some might.

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  5. Frankly, what some might is or no concern to be.

    ReplyDelete

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