Toasting My Stick Of Marshmallows As The Global Meltdown Proceeds
Economics was never my strong point. In school, it acted on me like an hypnotic sleeping pill. What I do remember is that I learned more about it from Psychology: I have something you want (commodity, service), you have something I want, lets negotiate terms and everyone is happy. Mix into the cauldron of some motivated competition and you have a crude description of supply side theory. Hopefully, all involved are in a growth cycle, generating GNP (Gross National Product), just another way of describing everything that everyone produces at the same time, measured in a particular geographic location over a specified time period. Perhaps a bit over simplistic, but also an honest attempt to understand the current quagmire of macabre economics, by reducing it to some kind of intelligible formula and decipher how this will all filter down to “me” or “us”. Remembering in the end that, “Time Will Tell”, the phrase passed down by the eldest of the family, one generation to the next as the answer that will provide all insight if you wait long enough till the effects of all this are finally felt rather than anticipated.
Actually, it could have all worked, as long as the participants played by the same rules; another way of measuring the fairness necessary to create public trust. If some “structure” maintained oversight of the game, such as a parent monitoring their child, lovingly reinforcing the rules as their kid sway toward the right, or smacking them for not listening by thinking they were being slick when your head was turned. Otherwise, players, like children in a candy shop (perhaps Madonna’s) are left to their own devices to honor the rules though they owe accountability, not to the electorate or their mother, but to stockholders. Responsible self regulation is not possible without the public trust, defined by lessening the restrictions on growth, which doesn’t mean that mom stops observing what the kids are doing or that she ceases to worry that they won’t learn the lesson before the consequences become grave.
Anthropological evidence describes some form of selfishness or greed, in all cultures, as perspective that is limited and “self” becomes more defined. Assertiveness and self confidence is an appropriate response when it’s based on ego development, but the temptation to tilt the playing field (cheat) also exists as part of human nature and needs objective oversight.
The Private Sector is comprised of individuals with varying self interests who spend time hiring lawyers to test the rules and find loopholes. Republicans are “nuts” to think that the private sector could ever have regulated itself. Nor would any self respecting parent willingly leave their child on their own before they were sure they were capable of acting responsibly independently.
As Nana use to say in her broken English, “Everyone gotta be on the same page” and “you gotta have eyes behind your head”, but what would you do? I asked. “Gold and silver”, she responded gazing into the teacup, “even in ancient times that would be enough to ‘Greece’ up the market, especially when money ain’t worth the paper its printed on.” And then she added “Now keep your fingers outta the candy jar!” Good advice since no one seems to know how to clean up this mess.