Ruminations on the electronics industry from David Manners, Senior Components Editor on Electronics Weekly.
Socialism For The Rich; Capitalism For The Poor
There’s a phrase going around that the times we live in practise ‘socialism for the rich and capitalism for the poor’.
The State bails out the rich but acquiesces in no pay or low-pay rises for the poor, pension-reduction for public sector workers, diminished employee rights and curtailment of public services.
The protection of the right of bankers to gamble with taxpayers’ money is the No.1 aim of Western governments’ economic policy.
The rich get richer, the poor get poorer. The richest American calls for higher taxes on the rich while the American worker has had no pay rise for a decade and half the US population is on welfare.
We have more social protection in Europe, but the American way is the way we’re going. Small wonder New York has seen ‘American Spring’ demos against the Wall Street elite.
The Greeks started this one – standing up for democracy against a financial and political elite which wants to impose a monetary straitjacket on them. Well, the Greeks brought us democracy once before.
The Western World faces a choice between a New Feudal System and a New Democracy.
To the barricades, my friends.Tags: bails, barricades, economic policy, small wonder, western governments