Saturday, September 25, 2010

Wreckonomics

-- by Horatio Algeranon

Greed is good and so is growth
To live the good life, we need both.

Banks are for billionaires and their buildings
Filled with gold and adorned with gilding.

Resources are for raping and for reaping
Profits in a mammoth heaping.

Nature isn't necessary -- don't be nervous
We don't really need her service.

Ecology is for environmentalists and other elitists
Naught but alarmists and defeatists.

Economics is for economists whose evaluations
For the "down and out" show little patience.

People are for profits (including the poor)
And when they die, there's always more.



For a slightly different (albeit pinko commie) take on economics, listen to what Chilean Economist Manfred Max-Neef (author of Outside Looking In: Experiences in Barefoot Economics) says on Democracy Now!

"[We need] an economics now that understands itself very clearly as a subsystem of a larger system that is finite, the biosphere, hence economic growth as an impossibility...a system that understands that it cannot function without the seriousness of ecosystems. And economists know nothing about ecosystems...that we depend absolutely from nature. But for these economists we have, nature is a subsystem of the economy. I mean, it’s absolutely crazy. "

[The fundmentals of economics should be that] "One, the economy is to serve the people and not the people to serve the economy. Two, development is about people and not about objects. Three, growth is not the same as development, and development does not necessarily require growth. Four, no economy is possible in the absence of ecosystem services. Five, the economy is a subsystem of a larger finite system, the biosphere, hence permanent growth is impossible. And the fundamental value to sustain a new economy should be that no economic interest, under no circumstance, can be above the reverence of life."
Radical stuff, right? -- especially the wacky idea that the "economy is to serve the people" (and not in the sense of the Twilight Zone episode "To Serve Man")
 
For equally outlandish ideas, read Small Is Beautiful: Economics As If People Mattered by radical ultraleft-wing British economist E.F. Schumacher (who worked with other left-wing radicals like John Maynard Keynes and John Kenneth Galbraith)