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after prozac, popping the keynesian pill |
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_POSTED_BY admin
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Thursday, 03 July 2008 |
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Its odd that an administration with such a track record of committment to free markets, even over acting to protect the environment, should have so suddenly adopted Keynsian economics on the quiet to deal with recessionary factors it had previously denied were a problem. The combined oil, food and energy crises appear to have changed as well as focussed minds on the global economy and its no coincidence that neo-keynesian policies have been adopted on both sides of the Atlantic by Governments of left and right and perhaps we'll see Bush's succesor, irrespective of who it is, pushing a New Deal type policy to massively invest in infrastructure to offset the economic damage we are seeing in the already slim manufacturing sector but it would also be interesting to know what kind of infrastructure for the future the politicians think we should be investing in .
We certainly cant blindly invest in development that adds to global warming so maybe there is an ideal opportunity for Government to seriously take the lead in reconfiguring society towards alternative modes of energy , transportation, housing , production and basically living with a conscious awareness of developmental limitation on a national scale.
There are certainly pressing environmental as well as purely economic reasons for doing this.
In fact, its questionable whether any activities on the global scale can be considered in purely economic terms nowadays as Gaia or the Earth's self regulatory system seems to have played as much of a role as the mediocre politicians and failing markets in getting us where we are now. We have developmentally traumatised the planet and its traumatised responses now drive our own shocked kneejerk reactions.
There also seems to be a healthy scepticism growing towards standard economic theories as explanations of how the global economy functions as its pretty clear that reality is fast leaving the textbook theories behind and that far from gravitating towards some obliging equilibrium state we now know for all our illusions of control the global economy can fuck up way beyond our worst nightmares with little warning so we need another model to work with , one that allows us to consciously watch what we are doing just as developmentally traumatised people end up having to watch their own minds and come to terms with limitation. That's what we have to do on the global scale. Realise that it's all connected and the more we ignore this fact the more we force the connections to reorganise to brutally drive the message home.
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Last Updated ( Friday, 01 August 2008 )
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