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Tuesday, April 11, 2006

NY Times furious to see democracy prevail

In an article today, In France, an Economic Bullet Goes Unbitten, The Times' Floyd Norris basically scolds France's politicians for listening to the masses in the streets rather than caving to the demands of the "global economy."
In these countries [western EU], a class accustomed to security--those with traditional jobs ending in generous retirement plans--opposes any effort to change the system. Economists may warn that the very system is one reason that unemployment, particularly youth unemployment, has soared, and that pressures of globalization mean that Europe must eventually change to prevent its growth from faltering even further. But many voters seem to prefer delaying that as long as possible.
Let me turn that around:
In the United States, a class accustomed to enormous wealth--those who run the corporations and the government (and write for the NY Times)--opposes any effort to change the system. Economists may warn that inequality in wealth and income has soared, and that global warming and resource depletion mean that economies based on "growth" are not only dangerous to our health; they will soon be completely impossible. But most members of the ruling class seem to prefer ignoring the obvious and to continue raking in their filthy lucre as long as possible.
Capitalism "succeeds" because it creates huge concentrations of power which are able to crush any opposition, including the people. The ultimate condition of unrestrained capitalism would be one person having all the wealth, ruling a desolate planet with everyone else dead. The French system, the one the voters prefer, may have huge flaws in it, but it's better than ours.