WRONG IDEAS OF THE 1990s

This posting is more of stream of conscious thought than most of my other postings. Just trying to get some ideas to coalesce, but I do think there is something here. I suppose these might seem like odd thoughts from an MBA who has worked within "the system" all his life. But, I have benefitted from working within a "meritocracy" with "controlled" capitalism, and we have been moving rapidly away from that toward a system where "capital" truly does prevail.

To me, much of the deregulation and movement away from the social compact over the past decade or two has proven to have been at least unwise. Below are just a few of the wrong ideas of the 1990s. Please feel free to add to the list.

I am starting to wonder if the lurch away from controlled/modified capitalism toward theoretical lassie faire capitalism at the end of the 20th century hasn't been a death throe. I almost titled this posting A New Paradigm: The Death of Capitalism.

Seriously, you have to wonder--unless world population is stablized or (preferably) reduced, and unless passing mega-wealth from generation to generation isn't prohibited...How can we avoid a world of permanant "haves" and "have nots", "landholders" and "landless"?

Father Richard Rohr, the Franciscan, has said that our economic system is setting most people up to fail. Can such a system be stable? We have to place a great emphasis upon creating opportunity for the "little guy" even at the expense of supposed economic efficiency.

SOME WRONG IDEAS OF THE 1990s

That we should put so many people in prison.
-3 strikes and you’re out.
-Mandatory life sentences.
-Major time for non-violent crime.

That justice is more important than forgiveness and mercy.
-Punishment instead of rehabilitation.

That shareholders are the most important corporate stakeholders.
-How about employees and the broader society?

That we focus on the short-term.
-That we must meet Wall Street’s expectations.
-That we can’t afford research.

That our country doesn’t have an “industrial policy”. That’s European!

That economic efficiency is more important than individual freedom and opportunity.
-The death of mom and pop businesses.

That the “private sector” is the most important social institution.
-Revisionist history forgets how much of what we have and value today came from government or government/private partnership (e.g., cross country natural gas pipelines, commercial airline industry, interstate highway system).
-Private sector has failed to care for our most vulnerable citizens.

That competition/wealth is the most important social motivator/goal.
-How about faith, community and social compact?
-That companies can walk away from their pension and health care obligations.

That "big" is good. That anti-trust enforcement is bad. That it doesn't matter if the mega-chain-store runs everything in your town as long as most people own a few shares.


Copyright 2006 by Nelson E. Hay