HAVING THEIR CAKE; WHAT IT'S ABOUT
Understand the awesome power of economic and social ideas - and how they to influence us all
This website aims to help browsers to understand the relationships between finance, economics, politics and every part of Society - and provoke independent thought uncontaminated by propaganda.
The site has one bias that represents my strong conviction - the Economy should aim to serve the needs of everyone in Society and not just a privileged few.
The crucial choices between economic and social philosophies
The 20th and early 21st centuries have witnessed titanic struggles between ideologies - Soviet centralism and free-market capitalism - and more recently free-market fundamentalism and social market philosophies.
Free market ideas have been dominant over the last 30 years
The field of economics is one of the great current battlefields between theories, faiths and dogma. Often objectivity is lost in the noise of battle. For the last 30 years, the dominant force in the global economy has been free-market theory. This body of dogma had its roots in Europe, but reached full flowering in the United States. Ronald Regan and Margaret Thatcher became the high priests of an increasingly powerful free market movement that has reached cult-like proportions. Were they right? What have been the results of 30 years of unfettered markets on the US and UK? Have free markets enhanced overall prosperity and nurtured industry and healthy societies? Is there some ingredient in free-market economies that makes them subject to recurrent crises?
Are they paying off?
Over the last twenty years of boom and bust, there is growing evidence that unfettered free markets have not created sound economies, healthy societies or an equitable distribution of wealth. Rationality might suggest that there is much room for improvement in economic theory and practice. Yet there is still an enormous battle being fought to defend unfettered free markets, which suggests that somewhere behind the scenes there is a fusion of self interest of the “Haves and Have-Mores”
* that makes change for the benefit of all very difficult.
* George W Bush describing his guests at a fund-raising dinner.
What are the alternatives to market fundamentalism?
Different Social Market models are evolving in South East Asia and South America, in addition to the established social market societies of Northern Europe and the Nordic countries. China has evolved a quite different system that combines state and individual enterprise without popular democracy. How are these countries and regions performing? Will this growing diversity overwhelm the "Anglo-Saxon" free market system?
Understand the dynamics of the global economic system and the philosophy that has driven it.
Making sense of complexity and competing ideas.
Few people are well-versed in economic theory or the dynamics of the financial markets. We are bombarded by a mass of often competing ideas about what is good for us and also by a blitz of advertising and exhortations to consume and to borrow.
Behind this 'noise' is a complex of interactions between investment banks, large corporations, governments, regulatory institutions, Think Tanks, academic researchers, media, and international bodies like the International Monetary Fund. A massive array of "Freedom" institutes supported by large corporations and super-rich individuals bombards academics and the media with a ceaseless flow of market fundamentalist dogma.
Somewhere in the background is the bulk of ordinary people, subjected to competing messages from many quarters; exhorted to dedicate themselves to freedom, democracy, consumption and attractive lifestyles; and invited to take on debt in order to live the good life.
These are the people who benefit or suffer from the machinations of the rich and powerful institutions that seem to be in danger of overwhelming democratic institutions.
Is Free Market dogma becoming as obsolete as "Communism?"
In the real world, the old battles between state control and free markets ("'Socialism' versus 'Freedom' ") are being made redundant as many different philosophies blossom. Many of the newer versions entail the state participating with other stakeholder groups to create strategies that aim at achieving economic prosperity with a fairer distribution of wealth.
How can positive change come about?
It is becoming clear that the complex of big corporations, banks, media and many politicians are not going to let go of their wealth and power voluntarily. Change is most likely to happen because the mass of people want it and are prepared to make their wishes clear. That is Democracy. An absolute Democratic "must" is a well-informed electorate.
So read this site if you want to understand the dynamics of the global financial, industrial and economic systems, the fascinating battle of ideas affecting its evolution, and how these things affect our lives. The site has grown over several years from small beginnings to a wide-ranging review of many factors that affect us all. It combines opinion, evidence, campaigning and questioning, leavened with a dash of humour.
