In Place of Greed

Some readers of this blog may recall an unsuccessful government policy that was attempted back in the 1960s called ‘In Place of Strife’. This was drawn up at a time when industrial relations and trades union activity in various forms were seen by some of the establishment as the major problems facing the economy.
In the 21st century of course the position is altogether different. Some of the principal issues facing ordinary people and which diminish the economic quality of life in this country and much of the western world are the damaging aspects of globalisation on domestic industry, the activities of disreputable banks and usurious money lenders, commercial avarice, exploitation of those with little power, corporate disloyalty to community and nation, deception of the consumer and gross and increasing inequality - to name but a few.
These are amongst the principal malfunctions of today’s discriminatory economic system, with rank greed and selfishness, particularly corporate, being at the root of most of the ills aided, abetted and frequently amplified by ideology driven government economic policies.
So it is that this country in particular, ever the zealot when it comes to capitalist ‘purity’, desperately needs a new economic and societal strategy, one that might well be entitled ‘In place of greed’, and one that is accompanied by essential reforms in the body politic.
Years of experience show that it is futile to tinker at the edges with ineffectual to non-existent ‘regulation’, messing about with money, fiscal or monetary, and ad hoc steps to remedy ‘market failure’. And to make matters worse the government always casts the solution in terms of ‘the market’ anyway.
By way of a computing analogy, when the operating system has reached a comparable point of dysfunctionality and instability, the very least that is needed is a system reboot. Better still would be the installation of a fundamentally different operating system – and I do not mean the typical, profit motivated cosmetic ‘sidegrade’. But what essential features would such a system have?
In the longer term, if we want to bring an end to needlessly harsh and counter productive austerity, exploitation, grossly unequal incomes and diminished national esteem, then I believe that policies such as those set out in earlier posts on this blog need to be implemented. These constructive changes would shape the development of a better and fairer future society. They are needed to enable the rebuilding of industry, national morale, and the personal and mutual respect and security that contribute to the Common Good.
Governments are often derided – quite understandably – but high quality and capable governance is in fact desperately needed, as is starkly evident almost every day. Positive engagement by government in implementing constructive policy is essential in aiding the achievement of widely supported goals. Government should set aside partisan doctrine, release itself from the nefarious influences providing its political funding and involve itself proactively in the process of building a wider and lasting prosperity.
The re-establishment of respect for ordinary citizens throughout commercial and institutional life is essential. This should be accompanied by a desire to seek the Common Good that should become second nature at both corporate and individual levels.
An economic system is not an independently existing abstract entity to be served and revered. Rather, the system should be at the service of society and it is what we choose to make it.
Furthermore, the Common Good can be enhanced with or without endless increases in the technical measurements of GDP - should we decide to do so. Perspectives can be changed, commerce can be reformed and productive industry can be re-established. Government can be engaged and publicly owned exemplar institutions with a genuine service ethos can be established.
Perseverance and patience would be required in good measure, but at least the journey this time would be towards the Common Good rather than away from it. The people deserve no less.