Western Capitalism in Decline
Jun. 11th, 2010 12:52 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
apharhttp://finance.yahoo.com/news/Western-Capitalism-in-tsmf-3665715476.html?x=0
Democratic capitalism is not flawed. Rather, government policy-makers are destroying a system that took mankind from dark feudal superstitions to cracking the secrets of life with deceptions, delusions and abuse.
...politicians have deceived voters by telling them pension systems can be constructed allowing retirement at ages 55 or 60. Whether funded by savings and investments or taxes, no solvent pension system is possible that permits educated professionals, unionized workers and government employees, who get most of the income and benefits, to work only 30 or 35 years and retire for another 20 or 25 years.
Politicians have deluded themselves into believing an education system that encourages young people to "find themselves" instead of "finding something productive" will give society enough scientists and engineers to solve the tough problems needed to perpetuate growth. They have deluded themselves into thinking that professors spending six hours a week or less teaching and the rest thinking great thoughts, or verbally pistol-whipping the society that supports them, is somehow wealth-creating.
[national leaders] have granted virtually free access to western markets for manufacturers from China. For its part, China maintains high tariffs and other arcane import barriers on western products, subsidizes exports through an undervalued currency, and offers other inducements to keep Chinese products artificially cheap on world markets. China grows at 10% a year, and the West sheds millions of "unworthy" manufacturing jobs and stagnates.
Meanwhile, in New York, London and elsewhere 30-year-old MBAs pull down bonuses of 1, 10 and $20 million a year for trading securities that really don't exist and creating havoc that have cost U.S. and European governments upward of $4 trillion to clean up.
Democratic capitalism is not flawed. Rather, government policy-makers are destroying a system that took mankind from dark feudal superstitions to cracking the secrets of life with deceptions, delusions and abuse.
...politicians have deceived voters by telling them pension systems can be constructed allowing retirement at ages 55 or 60. Whether funded by savings and investments or taxes, no solvent pension system is possible that permits educated professionals, unionized workers and government employees, who get most of the income and benefits, to work only 30 or 35 years and retire for another 20 or 25 years.
Politicians have deluded themselves into believing an education system that encourages young people to "find themselves" instead of "finding something productive" will give society enough scientists and engineers to solve the tough problems needed to perpetuate growth. They have deluded themselves into thinking that professors spending six hours a week or less teaching and the rest thinking great thoughts, or verbally pistol-whipping the society that supports them, is somehow wealth-creating.
[national leaders] have granted virtually free access to western markets for manufacturers from China. For its part, China maintains high tariffs and other arcane import barriers on western products, subsidizes exports through an undervalued currency, and offers other inducements to keep Chinese products artificially cheap on world markets. China grows at 10% a year, and the West sheds millions of "unworthy" manufacturing jobs and stagnates.
Meanwhile, in New York, London and elsewhere 30-year-old MBAs pull down bonuses of 1, 10 and $20 million a year for trading securities that really don't exist and creating havoc that have cost U.S. and European governments upward of $4 trillion to clean up.
