Economic and Social Inequality is the Core Problem

The seeds we plant we reap as they say. The oneness that I mention in this blog is to do with regarding the other as the self.  This means what we do to others we do to ourselves.  The great divisions we see are when we suppress, discriminate, abuse and disadvantage others in a myriad of ways.  Self interest has driven the greed in the system which discards the impacts on others.  The economic and social inequality is the core issue of the economic and ecological collapse that may appear to not be happening but most definitely is occurring.

In Australia we have witnessed forward estimates of a tax cut for those on high incomes embedded in legislation.  That is a win/lose strategy and what is a income tax if the system collapses?  Are income taxes fair and equitable.  It seems to be a trend in other countries.

The fear I realise is in the uprising of concerned voices and industry strategy as a result of a impending collapse.  This explains why government is protecting economic interests, however this is unfair and again, unequal and adds to discord and unrest in societies. 

In a democracy we have to engage the people in facing and resolving the problems occurring.  Capitalism is a system that is not balanced and is based on infinite growth which is an unreal notion in diminishing economies of scale (less profit, contraction).  We live on a finite planet. 

Please note that the political economy in its original conception by the moral philosopher Adam Smith was about fairer distribution throught he invisible hand based on rebalancing demand with supply.  It was to fend of mercantilisms concentrated power and sticky prices (set, rigidities).  Adam Smith was seeking fairer distribution at lower prices in a competititve system to benefit the mass of people. However flaws in his philosophy is best summed up in:

“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.”

The issue of greed has not been adequately addressed as this is the philosophical justification for benefiting the self at the expense (literally) of the rest of the population.  Many arguments have been used to argue that this ultimately benefits others, but what we see with clever marketing, ownership of marketing channels (raw materials to retail) that power conentrate and this is why there is undue influence on social and economic policy.

People sow the seeds of their own collapse because of the mentality that focuses on self interest.  This is what I feel inspired to share.   

The video below provides excellent insights into the core problem of inequality and how the economics of capitalism works.