Wednesday, June 28, 2017

Bill Mitchell — When the top-end-of-town realise their strategy is failing

There was an interesting article in the Financial Times on Monday (June 26, 2017) – Why US big business is listening to Bernie Sanders – which, despite the somewhat misleading and over-the-top headline, tells us a little of the way the full neo-liberal attack on workers is in regression. Not, I might add because of any philosophical or moral consideration. But, rather, the top-end-of-town is starting to work out that their headlong race-to-the-bottom approach over the last three years is not actually in their best interests. The top-end-of-town is not that bright. More brutish than bright and it takes some time for them to work out what we have known all along. Globalisation mixed with neo-liberalism is poison. Globalisation mixed with social democracy is progress.
The difference between zero-sum (competition) and win-win (cooperation). Adaptability and coordination increase returns in the biological world to paraphrase Roger Erickson. Instead of fighting over the size of shares of a pie, make a bigger the pie so all get more.

Bill Mitchell – billy blog
When the top-end-of-town realise their strategy is failing
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

4 comments:

Noah Way said...

Better to toss a few crumbs to the poor than have them burn down your house.

Neil Wilson said...

Nah. Just put inflammable cladding on the accommodation of the poor.

Burn before being burned you could say.

Matt Franko said...

The pie is already bigger we have a permanent real surplus ....

We don't need to make the pie bigger (we can't anyway) t he pie is already big....

Matt Franko said...

Neil what going on with the wire cladding did t hat add to the fire damage?

Got a link?