Economics 911

I am not an economist.

Well, I, like everyone else, am a practical economist. Money comes in. Money goes out. If I'm smart more money comes in than goes out. Otherwise I'm in trouble.

The essence of income is work. When I was in grade school I was taught we worked to make products to trade for products we wanted. Sally made pies and traded them to Sue who made dresses who gave the pie to Frank so he would fix the kitchen sink... So in my grade school economics work = income.

So the great economic thinkers redefined wealth from this simple grade school idea. They've been saying that wealth needs to be gathered in great piles so it can fornicate and make more money. So the income, the fruits of our labors has been piled up in counting houses and allowed to procreate.

The results of this fornication and procreation is large amalgamations of wealth in the hands of a few.

This might almost make sense except there is a problem with their economic theory. Once they strip the last bit of income from our cold dead hands there is no one to make things or buy things or create new wealth.

Create new wealth?

Yeah. Sally makes the pie. The pie has value. It didn't have value before Sally made it. Afterwards it get's Sally a new dress and Sue's sink fixed. And if Frank uses his pie wisely, like sharing it with Betty, he might even get to fornicate and procreate.

So if this simple minded approach satisfies the needs of the many, why has it been necessary to develop convoluted economic models and paradigms to satisfy the few? Work and the results of work belong to the those directly involved. The argument between opposing economic philosophies over the last hundred and fifty years is based on control and not on results.

Communism as a state run soulless economic machine failed miserably because the implementation of Marxist theory eliminated the rights and joys of the individual.

Capitalism in turn is crashing to the ground on the weight of its own profound greed and shortsightedness.

In both philosophies the individual is disregarded.

I've heard arguments like this is an either or decision. I hope not. Because if it is I really hope the world ends on December 21.

Please read Umair Haque http://www.umairhaque.com/