Saturday, September 29, 2012

Modern Mercantilism

"Greed is good." -- Gordon Gekko

"All animals are equal, but some are more equal than others."
 -- George Orwell, "Animal Farm"
"Whoever has the most gold at the end, wins." -- Phoebe Zeno

"Yes, but you can't eat gold." -- Pug Mahoney.
   The Road to Prosperity is not a limited access freeway, to be used only by an elite, chosen few. Everyone has a part in building this road, and everyone should be rewarded accordingly. To believe and act otherwise is to return to 18th Century mercantilism, and the ruinous exploitation of the many for the benefit of a few.
   On a national level, this led to colonialism, with the dominant nation gathering raw materials and resources from its colonies at low cost, then manufacturing, finishing and selling the products to other nations or to its colonies at a higher price. Result: Profit. But this practice often led to poverty in the colony and extreme wealth in the dominant nation.
   In the 19th Century, the worst of the barons of industry lied, cheated and stole their way to a Gilded Age of extreme wealth for a few, and widespread poverty for the many who worked in the mines, mills and factories.
   The 20th Century saw the rise and expansion of a middle class in America, where 40 percent enjoyed a comfortable life but did not begrudge the extra fineries enjoyed by those who could afford them.
   Today, those in the middle 40 percent are being squeezed by the top 1 percent, who believe they are "entitled" to continue and expand their wealth, just as the mercantilists of the 18th and 19th centuries thought themselves exempt from the self-evident truth that all are created equal.

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