Tag Archives: Trickle down

Corporations – Sucking our Planet Dry

A corporation has been defined as “… a business structure whose sole reason for existence is the earning of profits by manufacturing products for as little as possible and selling them for as much as possible. It does not matter whether the product does good or evil; what counts is that it be consumed – in ever-increasing quantities”.

(Note: therein lies the root of our whole recycling problem … think of all the packaging that goes with those products … plastic wrapping, meat trays,  polystyrene and plastic bottles just for starters).

corporate rip offs

Giant multinational corporations have become society’s most dominant institution. As a student of social policy in the early 1980s I well recall being  told there would come a day when corporations would control governments … difficult at the time to conceive of … nevertheless this is exactly what has happened. It was difficult to conceive because it was an era when unemployment was low, benefits for the few who required them were at a livable level and education was relatively free. We were a welfare state. That has changed for we were sharply reminded we were a capitalist welfare state.

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EnvirowatchRangitikei

Why are the rich getting richer?

An enlightening three minute clip from the Positive Money YT channel on why we have inequality. It’s a mythical illusion that all can succeed under capitalism and a short review of the literature on that, looking beyond all the spin, will prove it. The documentation of the proponents of this monetary system tell us quite clearly that scarcity and the inability for all to succeed is what’s required for it to run successfully… for those at the top of the pyramid that is.

Published on Aug 2, 2013

http://www.positivemoney.org/issues/i…
Our money system guarantees that inequality will get worse — Here is the evidence:
http://ow.ly/qbCdr

1. The current money system distributes money from the bottom 90% to the top 10%

Because 97% of the money in the UK is created by banks, someone must pay interest on nearly every pound in the circulation. This interest redistributes money from the bottom 90% of the population to the very top 10%. The bottom 90% of the UK pays more interest to banks that they ever receive from them, which results in a redistribution of income from the bottom 90% of the population to the top 10%. Collectively we pay £165m every day in interest on personal loans alone (not including mortgages), and a total of £213bn a year in interest on all our debts.

2. It transfers money from the real economy to the banks

Businesses are also in a similar situation. The ‘real’ (non-financial), productive economy needs money to function, but because all money is created as debt, that sector also has to pay interest to the banks in order to function. This means that the real-economy businesses – shops, offices, factories etc — end up subsidising the banking sector.

3. It transfers money from the rest of the UK to the City of London

Banks pay their staff out of their profits, which in large part comes from the interest they charge on loans. Because most of the high earning bank staff work in the City of London, this results in a geographic transfer of wealth from the UK to those working in the City of London.

4. The instability that the system causes means that temporary and low-paid jobs are insecure

When banks cause a financial crisis it leads to unemployment. It tends to be low-paid and temporary contract workers who are the first to get made redundant first, so that instability in the economy has a bigger effect on those on low incomes with insecure jobs.

5. High house prices increase inequality

When house prices are pushed up by banks creating money, those on low incomes suffer the most. People on low incomes often can’t get a mortgage big enough to buy a house, so they don’t benefit from the rise in house prices. Meanwhile, those who can get access to mortgages can buy multiple houses for buy-to-let and benefit from artificial inflation in house prices. Younger people also lose out, as the cost of buying their first house swallows an ever larger amount of their income, while older and retired people who own houses benefit. This all increases inequality across different income groups and between the young and old.

Help us change the money system!

Our debt-based money system is fuelling inequality. By taking the power to create money away from banks, we can reduce inequality and make the economy more stable.
http://www.positivemoney.org/issues/i…
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