Monday 5 May 2014

Getting It All Wrong

As a Bank Holiday, when we all rush out to the Malls to spend money we do not have, courtesy of the banks, it is not a time for organised or serious thought.  But things do intrude.

The admission that they are all wrong in that both the basic ideas of the Left and Right about economics and wealth is something close to my own ideas.  But Blond's item from the LSE web site veers off course and crashes when he suggests that the answer is for the UK to become the great world power leading the way.  My view is that the best we can hope for is a zero hours contract to sweep up the mess.

What went badly wrong is spelled out on Naked Capitalism by Yves Smith as the idea that business and economic activity should be based on maximising shareholder value and returns.  This from Milton Friedman etc. which overthrew the idea of shareholders being one form of investor in companies with other objectives destroyed the balance of money, trade and markets to produce the horrors of the present.

A shlock horror energy item comes from Germany, noted on Energy Matters, where it seems that the great green energy caper is literally past its sell by date.  Sigmar Gabriel, Vice Chancellor and Economics Minister has said it does not work and will not work and costs far too much.  As the UK has gone hell bent down this road so we too have gone badly wrong.

Another fine mess it seems is the idea that the "Swiss Model" could be the one for the UK to follow in relations with the EU.  The Local, relayed by Richard North says it is going wrong and is not working.

Four wrongs do not make a right.

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