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After twenty-eight years of neo-con and neo-lib voodoo economics jammed down our throat without informed consent, the current and inevitable meltdown offers us a chance to re-examine the philosophy and theories used to lead us into this mess. After all, the neo’s have had almost total control of our economy for this entire period. The current economic situation is a direct result of their theories and philosophies as enacted and implemented through legislative, judicial and executive policies of both parties. If one thing is for certain, it’s that both parties got us here based on these so-called economic theories.
The neo experiment has had all the time necessary to test the validity of this ideology. The neo-cons and neo-libs cannot complain that the US citizenry did not give them ample chance. Moreover, we Americans have been paying for the change to the new world order and the deregulated laissez faire free market. We have paid in the form of lost jobs, lower salaries and wages, higher unemployment and underemployment, degraded medical care at higher costs, crumbling infrastructure, loss of liberties, higher taxes, less security and this list goes on for quite awhile. We were promised that these changes would bring prosperity in the form of trickle down investments in capital resources that create jobs. So, after twenty-eight years did it work? Did it ever work along the way? The answer to both of these is a resounding “NO!” Why? Because it is a fundamentally flawed policy designed to enrich the oligarchs. For those who claim that Clinton’s policies were good for the economy they also possess a flawed understanding of NAFTA and the subsequent free-trade agreements ushered in by the neo-liberals, led by Clinton, but that is the subject of another essay.
In the face of a virtual total meltdown, characterized by one of the ideological leaders of this disaster as a once in a century event, the architects of this economic catastrophe are advocating a continuation of the policies that got us here. McCain want to “make the tax cuts permanent”. If that is not bizarre enough, many people are either agreeing with them or are unaware of the true reasons we are having this meltdown and where it is headed. Make no mistake, this has just started and if the Repugs get into power this November, our current condition will evolve into the status of a typical third world nation in perpetuity. If you don’t mind living in a third world economy then pay no attention to the man behind the curtain. If you want to make a change it is time to educate yourself and act.
If we seize the moment and re-examine the basis of our economic systems we should also be prepared with a sound strategy that is not just based on wishful thinking and old tired liberal notions. Borrowing from the successful business practices of modern corporations we should conduct a thorough investigation into the root causes of our current situation. We should open our minds to the fact that economic systems are not prescribed by the Constitution. Although we may want to keep the free market, it is not a requirement of our Constitution. In fact, the Constitution is specifically silent on the topic, expecting that economic systems will be determined by debate, consensus and democratic vote. Instead, we have had no choice in the free market. There has been no debate, only dictatorship. One is declared a traitor if one does not support the ‘laisser faire’ deregulated free market. This notion has been subtly implanted by the neo-propagandists and their hidden oligarch sponsors.
How do we go about inventing a new economic system? It is not as complicated as it appears. The simple answer is we create a Citizen’s Economic Development Committee (or something similar) and conduct a logical, clear and comprehensive study of the topic, develop the underlying theories and philosophies, and plan and implement the program, regularly checking on its performance and making adjustments as we go.
In reality there are a lot more steps and the challenges we face in truly fixing the economy are immense. The task is nothing short of displacing the current governing theories and kicking out the oligarchs from the control of our political and economic system. A tall order for sure, but we have to start somewhere. Most important, if we are to succeed we must do it right. This means we need to start at the bottom and re-examine everything. We put away our old ideas, old philosophies, old ways of thinking, sit down as people, not politicians, and work it out. If we achieve nothing but creating the theoretical underpinning of a free and fair economy that serves the interests of the people then we have succeeded in the most important aspect of this endeavor.
Investigating, analyzing, exploring possibilities and other similar activities can be quite boring, especially when they are focused on the economy. Nonetheless someone must do the heavy lifting and sort out the confusion that the neo-cons and neo-libs have perpetrated upon us all. We must re-align our economy with the true principles underlying our Constitution and democracy so that our economy serves the greatest number of people and not just the rich.
Until we are willing to take on this task, economic meltdown or not, we will cycle around in the washing machine of neo economic misery as we watch our jobs, our healthcare, our schools and our institutions crumble. It just so happens that the current economic meltdown offers us a unique opportunity to make a difference to future generations.
