Thursday, May 19, 2011

Modern Economics

An interesting comment.  Excerpts:
CEO pay is 343 times that of employees.

What's fascinating about the time in which we live is that modern serfs are still, at present, willing to fight to the death so that their Lords can maintain this ridiculous inequity. To suggest, as Chesterton did, that the principal trouble with capitalism is that there are too few capitalists is to invite being shouted down as a socialist, Marxist or Commie not by the CEO, but by the people who are watching their savings vanish, their jobs disappear, and their buying power dwindle while presidents of failed corporations ditch the plane in a golden parachute. Ideology is the triumph of the All Explaining Theory of Everything over reality. The Commie wants the wealth and power concentrated in the hands of the State. The Capitalist wants it concentrated in the hands of the rich man. Chesterton thought wealth and power shouldn't be concentrated but part of the common good and that everybody should own a little property, run a little business and take care of his family. Naturally, he is vilified as a closet communist by the people who think Ayn Rand is a genius.
I really don't have many answers of any sort when it comes to economics, but the left and the right both hold positions which ring hollow after you test them for long enough. Is this the best we can do?

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