Showing posts with label stock market. Show all posts
Showing posts with label stock market. Show all posts

Sunday, May 31, 2015

Scale

Few people agree with me (or want to admit) that capitalism in its present form is the source of most of our economic, environmental, and institutional ills. We want desperately to cling to our belief that the "American Way" is the *right* way, the *best* way, the only way; but we might be wrong. At the very least, we have an escalating problem with the sheer scale of capitalism. It no longer benefits everyone, and that puts at risk something far more sacred than capitalism: democracy.

Let us look at what corporate capitalism has done for us (or to us) lately:

  • Reduced consumer choices
  • The bigger the corporation, the fewer the choices for the consumer. What results from mergers and acquisitions is the illusion of choice. Take television for example. Mergers of various networks insure that we will see the same content distributed over several channels instead of new content on those other channels. Sports are increasingly televised on stations for which the consumer must pay extra as part of a cable or satellite package. This amounts to consumer coercion, whereby formerly free broadcasts are now held in virtual ransom. More disturbingly, news media are being concentrated into fewer and fewer outlets controlled by corporations that filter the news to further their own corporate, political, and economic agendas; or distract us with fear-mongering and celebrity status reports.

  • Suppressed technologies
  • When you have an existing industry firmly entrenched in the status quo of the marketplace, it will exercise all its power to maintain its dominance. Hemp is an example of a raw material that would compete very favorably with cotton, paper, even plastics and some metals. Those existing industries act to suppress the hemp industry through lobbying our government representatives and agencies, and spreading false information to consumers. Hemp is a relative of the marijuana plant, but contains only a fraction of the chemical compound that gives marijuana its pharmaceutical and recreational properties.

    Only recently have alternative, sustainable, and clean energy technologies been allowed to blossom. Even these have come under attack because of the scale of those enterprises. Giant windmills kill birds and bats, but all resources for wind energy are directed to those large-scale models. Bird-friendly, small-scale alternatives are ignored.

  • Fewer consumer, labor, and environmental protections
  • Most major corporations on the Wall Street scale honor only their monetary bottom line and increased revenue for shareholders. The consumer, employee, and environment all take a distant back seat to those goals. To that end, lobbyists argue for erosion or outright repeal of existing laws aimed at affording labor, consumer, and ecological protections. "Studies" are rigged or altered or biased to reflect business interests. Conflicting research is suppressed. Recalls of dangerously defective products are postponed. The Clean Air Act is constantly under fire, as well as the Endangered Species Act and other landmark legislation that is arguably among the best ever enacted by *any* government on a national scale.

  • Corporate Welfare
  • The welfare distributed to individuals and households in poverty is nothing compared to the dollars delivered to corporations and industries annually. We pay lip service to, and worship, the "free market" as the God of the economy which, left unfettered by regulation, will allow businesses to flourish; yet we prop up failing industries with subsidies, tax breaks, and bailouts that seem to always be lavished on CEOs and shareholders without even a trickle down to workers and consumers. We protect ailing industries with import restrictions and tariffs. Left to the "free market," those American industries would wither and die. They do anyway, of course, as manufacturing is transferred overseas to cheaper (read "substandard") labor forces.

  • Perpetual definition of the "American Dream" as the attainment of material wealth
  • It can be argued that the accumulation of wealth is in itself a goal not worth pursuing, and at worst a lifestyle that threatens the well-being of others, and even the planet itself. Consumption and economic growth as we are accustomed to in this century are definitely not sustainable, and take resources away from more vulnerable human populations. One would be hard-pressed to refute the idea that the Earth could benefit from fewer numbers of Homo sapiens, and certainly from less "development" of natural resources.

  • Increased stress and decreased physical health
  • Our physical and mental health are at risk from social, cultural, and economic pressure that are inflicted upon us or that are self-generated. We are valued in the marketplace only for what we can consume, not what we can produce, unless it is more consumers in the form of children. Our labor is consistently undervalued to the point of corporations balking at a raise in the minimum wage; and suppression of collective bargaining to insure workplace safety and fairness. The end goal of industry is production without labor, but the unemployed cannot afford to purchase products.

    How we value ourselves is just as important as cultural expectation. I, myself, constantly struggle with the idea that my wife is the major breadwinner in our household. This flies in the face of the "standard" I was brought up with. It takes a major effort to remind myself that my ego is not the point of our marriage; and money is not what strong relationships are built on in the first place.

There is reason for hope. All is not lost. In fact, there are surprising trends that indicate a potentially bright future ahead. Community gardens and farmer's markets are springing up almost daily, taking our food production back from corporate agri-business and returning it to local roots (literally). The "tiny house" movement is spreading, and demonstrating that a lifestyle with fewer material possessions means stronger personal relationships and an enhanced sense of community (while going off the grid in many cases). There is increasing demand for better public transit, more walkable neighborhoods where one can work, live, and play without dreadfully long commutes in a vehicle powered with fossil fuels. We still have power, folks, beyond the voting booth, and the internet age allows us to quickly find friends and support for what we believe is important. Thanks to crowdfunding, we can even find money for making those inventions and community projects happen, without dependence on institutions firmly entrenched in the status quo. Go for it!

Thursday, October 18, 2012

Election 2012

The importance of exercising your democratic responsibility to vote this November 6 cannot be understated, but you also have my sympathy for how increasingly broken our public institutions are becoming. A President, a congressman, or any other elected official alone cannot begin to repair problems that have been decades in the making, and largely out of their legal control anyway. The political process needs reform, no doubt, but we also need large cultural shifts to make America the nation it could (and should) be.

It may surprise you to learn that I am not going to be overtly endorsing any candidates in this post. That is because it is more important for me to get you thinking outside the (ballot) box. I trust you to vote with considerable deliberation, and I’m confident that we share respect for each other’s beliefs.

It surprises me to reflect that I have probably worked (been employed in the traditional sense) more consistently under Republican administrations than under Democratic leadership in the White House. I also find I have far more anxiety over our nation’s foreign and environmental policies under Republican leadership. Still, I think that most economic prosperity has little to do with legislation. As a consumer, I certainly appreciate regulations that protect me from contaminants in my water and food, and pollutants in the air that I breathe. Since I greatly value wildlife, I appreciate the maintenance of existing parks and refuges, and the creation of more. My creative side applauds all financial support of the arts, and innovations in sustainable energy and agriculture. I am grateful that I am in good health, and fall under my wife’s insurance coverage, but I have close friends who are not so fortunate. They have pre-existing conditions that until “Obama-care” prevented them from being properly insured. This issue alone is fodder for another post, so I will stop there.

Three cultural conditions exist right now that do trouble me. They are: Wasteful consumerism, the blurring of boundaries between church and state, and the worship of Wall Street.

The average middle class household doesn’t take home the income it used to. That is an undisputed fact, when one adjusts for inflation and looks back at our historical wage-earning power. Unfortunately, we are also more irresponsible than ever in how we choose to spend that income. One may even argue that there really isn’t even a middle class at all anymore, because much of what we purchase we go into debt to pay for. We aren’t “keeping up with the Joneses,” we’re burying ourselves under credit cards. I wonder how much tax reform, wage reform, and opposition to unions there would be if everyone only spent what they actually had. It would become instantly obvious how much of a gap there is between the rich and the poor. “We can’t redistribute wealth!” you say. What do you think Wall Street does?

Ah, yes, the stock market: Legalized gambling at its finest, for only the highest of high rollers. It is the engine that redistributes wealth to those who already have enough disposable income to invest. Wait, I’m sorry, many corporations also robbed retirement accounts to continue their illusion of profitability. Employees, consumers, and all too often the environment, suffer to appease the almighty shareholder. This is the one institution that needs reform above all others.

Lastly, we are experiencing a resurgence of Christian fundamentalists attempting to impose their values on all citizens through legislation and funding (or de-funding) avenues. The problem is that, for better or for worse, our constitution and Bill of Rights guarantee us the freedom to sin. Not that we should, of course, and not to say there are no consequences for our sins in terms of prosecution and incarceration to name just two, but it is pretty explicitly protected. Some misguided folks might equate that freedom with “pursuit of happiness,” but I wouldn’t go that far. I am sorry that “God” and religion have become synonymous, though, because the higher power I believe in is far more inclusive and tolerant than many of “His” Christian believers.

There you have it, my two cents with room to expand in later posts. What do you think? Do we achieve most of our personal and collective success in spite of government intervention? Are we too rigid in our adherence to current government revenue streams (taxes)? How do we overcome the grandiose expectations we have of both government and the marketplace? We need to begin a dialogue, not another debate, and I look forward to hearing your thoughts.