CONTENTS 045 ECONOMICS NEXT
ECONOMICS: the promotion of academic vogue models on the catwalk of financial survival


Economics is the financial showplace where the latest offerings from a favoured fashion house are paraded. It is the art of promoting the latest trend-setting school of vogue and advising on how to manipulate the means of production, the price of materials and whether the hemline of bill-rates should be adjusted up or down. Prophetic suggestions are offered as to which points of interest should become fashionable and exposed in order to keep abreast of the market climate. Each season, the economists fashion their latest wardrobe, and then stage a showing which walks all over the sources of food, goods and services, whilst maintaining the basis of their expedient justifications in either clouds, bubbles, or urban fantasy.

Hierarchical pyramid structures are perennial favourites amongst the designers. In a similar manner to the operation of pyramid sales schemes, individuals participating in the lower levels are incorporated into the model, either as essentially unpaid slaves or subsistence wage workers, so that they can be effectively exploited by the upper flight-levels of an efficiently indifferent organizational structure. The upper levels of the pyramid attract the intrinsically esurient who progressively acquire elevated delusions of their status and worth and manipulate the flow of resources in the structure so that greater and greater proportions of the generated wealth accumulate higher and higher into their stratosphere of indispensability.

Economics should be constrained by most of the considerations relevant to all the other human social projects, systems and organizations. Whenever any of these organized social endeavours fail, then the designers must be made accountable in some form or another. If it is a bridge that fails and causes the death of citizens, then there needs to be an analysis of the circumstances and censure or penalty imposed upon the constructors if incompetence is indicated. If the system of crop production fails and there are food shortages as a consequence... because of inadequacies on the part of those responsible for it... then they should probably not be allowed another opportunity to mess things up. Similarly, if economic models are created whose simplifications ignore the chaotic uncertainties of existence, there should be no absolution for the culpable economists when their system collapses. Rewards and bail-outs are not given to engineers whose buildings collapse so neither should economists receive forgiveness and compensation. Extra food is not allocated to the officials responsible for the latest famine because of their agricultural ignorance. Much economic activity is conducted in an environment that is nothing more nor less than a sophisticated casino. Oblivious and unconcerned with the financial needs of commercial trade and enterprise, hosts of parasitic speculators, corporate and individual, gamble with financial credits in an attempt to obtain gains via the daily vicissitudes of perceived value. When they succeed significantly they expect adulation and reward. When they fail catastrophically, they expect compensation from the core socio-economic substructure. Whilst economic models may be just as necessary as engineering or horticultural models to the continuation of human social development, failed economic organizations should receive the same censure and penalties as the engineering organizations whose constructions collapse, or horticultural organizations whose production fails.


CONTENTS 045 ECONOMICS NEXT