Redistributive capitalism seems to be faring as badly as redistributive socialism. The Governor of the Bank of Italy notes that subprime has already swallowed half a trillion dollars and that there are at least another $350 billion to come.
Ironic that the collapsed socialist states had to turn to capitalist practice to recover, while collapsing capitalist states are nationalising, state guaranteeing, intervening at every level of governance, in the hope of preventing total melt down.
One lot were redistributing to the rich, the other lot to the poor, but redistribution clearly should not be on anyone's wish list.
Subscribe to:
Post Comments (Atom)
Posts
6 comments:
Airline's going to the wall too Hats.
Sad day for lots of emplyees there...
But Crawley (over here), is now bracing for long queues with hands outstretched...
Just don't land at Gatwick for a few weeks, there will be a feeble fat lady politician denying all the answers...
Hard to teach anything about aeroplanes and letdown-ness, and sadness to Hatfield, Scroblene.
Still, there's the University of Hertfordshire now, instead of an aerospace industry. Did you know that Blue Streak is in a museum in Munich?
It isn't brains and their training we need. That is a given with the quality of so many of our universities. It is the investment, and particularly fiscal and regulatory encouragement and protection from government that is missing.
That's a very good point. Hadn't thought about it like that,
Tremblingly, I think I have to disagree with your last sentence, HG. Medicine, schooling and the Minimum Income Guarantee are all forms of redistribution, and although they all fall short of the ideal in many ways, I don't think we should simply withdraw them altogether. We wouldn't want to return to the "system" of the 19th century, or earlier ages.
What I'd like to abolish is the slyness and complexity of methods of taxation, and the high-handedness and wastefulness of the methods of benefit distribution.
If the poor(er) have needs, give openly - perhaps not as cash, but as some form of credit or voucher that could be spent (and saved, and redirected) more wisely. Has there not been mooted some form of benefit pot, that could be drawn on during one's lifetime in a number of ways?
What is redistribution and what is investment S? I would think proper sewers, clean water supplies, public health, education, a state of the art transport system, etc, investment. What is the point of having 40% of 11 year olds innumerate and illiterate, trains that enter Potters Bar station sideways on, water supplies cut off in central London for hours without warning or subsequent explanation, other than it's an old system, sewerage services I wouldn't want to think about, or people dying for lack of basic medical provision? I agree that contributions come from different sectors at different levels, so there is some element of redistribution, but you can't get blood out of a stone - people needs must contribute what they can.
So indirect redistribution and the construction of social capital isn't the same as direct redistribution either socialist or capitalist. It's the latter that I was thinking of.
Trembling eh? (Angels must be the only blogger to look at comments from the corner of their eye in case there is another tirade from Mr Horrid.)
Who's this Mister Horrid? We'll get 'im for yer.
Post a Comment