<
https://www.fastcompany.com/90650835/the-twisted-psychology-of-capitalism-and-why-it-wont-hold-sway-forever>
"If you listen to economists talk about the world right now, you’d be forgiven
for feeling a little confused. The pandemic precipitated the worst recession
since the stock market crash of 1929. Now, we’re told, the U.S. and China could
be heading for the fastest recovery on record. But it’s set to be uneven—a
“tale of two recoveries,” according to the World Bank. The best of times for
the rich. The worst of times for the poor. Same as it ever was.
What does this all mean as we emerge from lockdown and look toward the even
bigger challenges that lie ahead—climate change, the devastating loss of
nature, and the social inequality that still haunts society?
The pursuit of GDP growth has been the holy grail of capitalism since the
Second World War. But its relevance to the quality of our lives has always been
a little sketchy. Shortly before the U.K. took its fateful Brexit vote in 2016,
a government adviser came to a town meeting to persuade people to vote “remain”
because of the impact leaving the European Union could have on the country’s
GDP. “That’s your bloody GDP!” shouted a woman in the audience. “It’s not
ours!”
For the last half century, our obsession with growth has never consistently
benefited everyone. Quite often, it was the rich who benefited most. And as the
economy grew and grew, the impact on the planet has been nothing short of
devastating. It’s tempting to wonder, as the recovery takes shape, whether this
time we might aim for something better. But to get there, we may first have to
learn some harsh lessons from history."
Via
libramoon@pluspora.com.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
