Wednesday, 23 September 2009

Violence of the Modern Economy

A strange title you may think,but we are all victims of it in some way or other.Whether you live in a developing country or a developed one,the dehumanising way that people are manipulated by major corporates continues apace.
Just on a small scale it affects us all;my home is in the small Northumberland market town of Alnwick and when Woolworths closed this directly impacted on ten local families.Loss of any kind of job in Alnwick is a disaster since the local economy is heavily dependent on tourism and agriculture.
What caused the collapse of Woolworths was the banks refusal to reschedule their loans,even though the long term future of the business looked promising.
This brings into play another element that has been much in the news over the past few months.BANKS!
I know we live in what purports to be a free market economy,but there are moral issues at stake here,which bankers and industrialists would do well to remember.The world is becoming a smaller place and greed can no longer be socially acceptable.
Shunting manufacturing to China or India to save on wages,avoid health and safety considerations and then expecting the advanced economies to continue to buy their products,is not sustainable.
When the FarEast becomes too expensive or legislation is put in place to protect their workers,where do these industrialists go then?
Will the banks finance sustainable development in Africa or South America?Their record to date suggests not.
Western tax payers money has been used to bale out banks,which continue to reward overpaid traders who deal in spurious financial instruments.Money is not being released to support growing and new business,but the bankers insist on their bonuses.
Unemployment is a form of violence that should be resisted at all costs,since it affects the family,society and the world as a whole.
On a human level I believe we are coming closer together,thanks in part to the internet and our ability to exchange ideas and form friendships around the world.Politicians are starting to listen to the chatter in the ether;as yet the industrialists and bankers are blind to their own imfamy.They can't all live in Martha's Vineyard or Monaco!
The micro-financing system I mentioned in a previous item may well be a solution to a growing crisis in the West.But it will require ethical banking and sod the industrialists!

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