Saturday, August 2, 2014

Competing Among Classes, Not Nations

IF THE UNITED STATES, had, say, a much higher population and a much bigger economy, it could, in theory, stave off the advancing formerly red Chinese, and remain masters of the economic world. Or will international economic competition in the future be replaced by class warfare? Into what uncharted realms of growth will international economic competition take us? Because of political and economic structures, the concentration of wealth globally is reaching previously unheard of levels. Will the world eventually be left with teeming masses of impoverished billions, with a few million ultra wealthy and ultra powerful masters, and no middle class? The rules of the game are currently set up to accomplish exactly that, and that is exactly what has been happening. Eventually, so many people will be poor, with virtually no spending power, that nation after nation will descend into bankruptcy, and the global economic system will collapse, top heavy, bottom heavy, hollowed out in the middle. The trick is to turn the fight against climate change into a profitable industry. That, and some reform within the banking and finance industry, and putting an end to corporate welfare, and perhaps future economic collapses won't be as severe as our recent ones. Without sweeping structural change, prosperity for the many will be neither long lived nor widespread, any more than it is now, which, obviously, isn't much..

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