Another week of neoliberal economics – (and who cares about the poor?) – from the Daily Blog

From the Daily Blog in NZ, a thought provoking look at the world of economics where policy fallout on human populations is of no particular importance. Discussing also the incentives (are there any?) for mothers to leave their babies in day care and take up paid employment. Many are apparently worse off for working full time.

Capitalism is not about free competitive choices among people who are reasonably equal in their buying and selling of economic power, it is about concentrating capital, concentrating economic power in very few hands using that power to trash everyone who gets in their way. (David Korten)


By   /   August 29, 2015
“In the world of economics there are no crises, no gender issues, no growing inequality, no precariat hanging on in a fragile labour market by their toenails. No families ‘choosing’ to be cold and sick so they can pay the rent, no mothers  sent to jail for infringing 19th century rules,  no children spluttering up sputum from 3rd world diseases because our  housing is so bad ,no inconvenient  hungry students with enormous debt ….
mansion-411128_1280Thus it was this week on Monday at the 13th annual economists breakfast  at the Heritage hotel in Auckland…

Economists after economist pontificated on whether interest rates and exchange  rates are going up or down and why and the virtues of quantitative easing that didn’t happen soon enough, apparently, except in the US.  Never a mention of fiscal policy, except the bad effects of increase in GST in Japan…
…of course, there was no mention by the economists of high rates of poverty, , casualisation, low pay and uncertain hours, rampant speculative activity in real estate and growing inequality, even though the IMF and the OECD are regularly warning of the dangers…

When the inevitable downturn produces higher unemployment, more foodbank demand, foreclosures and poor-330395_1280widespread mental illness, who asks or cares whether the economic system works for low and middle income people and their children?”

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