Economic Injustice: Not Black or White

My Point of View

I begin my online course, Not My Economics, by making the case that no one and everyone is to blame for the “economic pandemic” we have faced for decades.

It isn’t black or white. It isn’t rich or poor. It affects everyone who works in an economic system where people are treated on the balance sheet as liabilities (costs), not assets. And that includes the most of us.

We need to understand that reality before we can do anything about it.

In the beginning Capitalism and Democracy were sisters.

Our forefathers created a Constitution and a Supreme Court that would discipline one sister. But the other sister was mollycoddled with a system of laissez faire. In other words, Capitalism was allowed to follow her own course without interference.

She did.

From the outset, Capitalism worked for the common good. But without constraints, it began to serve greed, not need. Wealth. Not well-being.

Policy-makers began to worry when the undisciplined sister reached her teens. They feared Capitalism would result in the rich getting richer at the expense of the poor and middle class. They passed a series of anti-trust laws to prevent monopolies.

The wayward sister was not pleased. Eventually those laws were, either, rescinded, weakened or ignored.

So what can we do? Is the problem too big for us to handle? I think not. But first we have to get over our fears, our frustration, our anger and our finger-pointing.

We are an important part of the money chain. We are both the workers and the consumers. And there’s plenty of power in that.

Use it to our advantage and we can break the chain and capture the wealth for the benefit of ourselves and our families, our colleagues, friends and neighbors, our community and our country.

Instead of burying Capitalism, we can save her.

It will not be done by forcing the wayward sister to change her ways. Not by demonstrations or riots or pleas to Big Business or Big Government to change their ways. It will not happen on the political front.

We will have to do it DIY on the economic front. And we can.

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Not My EconomicsEconomic Injustice: Not Black or White