Monday, November 10, 2008

Unpatriotic Reaganomics

* A mature and intelligent person inquired of my bumper sticker, "No more Republican/Reaganomic Kool Aid". I discovered that most people don't realize that the economic paradigm under which we struggle is a contrivance of Ronald Reagan and Margaret Thatcher beginning after 1980, an economic experiment with a dubious rationale, not the natural order.
* The pillars of Reaganomics are: 1) deregulation to unleash commercial activity; 2) globalization to combat inflation; 3) tax cuts for the rich to stimulate investment; 4) faith in market forces to provide what society needs; 5) privatization of basic services for better efficiency and incentives. Each of these pillars might be helpful in small doses, but suicidal in large doses.
* Swallowed whole they translate to environmental degradation, resource depletion, loss of American jobs, Walmartization, idle mill towns, blighted cities, broken rungs on the economic ladder, anemic middle class, diffuse disaffection, transfer of wealth to foreign corporations and sovereign wealth funds, sequestration of wealth among corporate executives and Wall Street paper pushers, large and relentless government budget deficits hence rapid expansion of government debt now equal to the gross national product, epidemic corporate and personal bankruptcies, over-expansion of the military-industrial complex, toxic self-righteousness among those who compete successfully, neglect of infrastructure and utter failure to prepare for future inevitabilities.
* Reaganomics seems unpatriotic.

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