Our broken economic system

What is wrong with capitalism? Beyond all the obvious points about it not working? George Monbiot is demanding an end to capitalism, but he also thinks we should just eat plants to save the planet, a strategy which we know from many of these blogs is self-defeating. Where do we turn for an understanding of what we face and how to actually face it?

One argument for capitalism that economists in particular trot out is that under a capitalist system everyone gets better off, standards of living rise. This may have been true once, but has not for a long time now in the US, the UK, or democratic South Africa. The argument gets linked to the notion of trickle-down, where if some people get really rich their money and investment reaches everyone else eventually. I want to take issue with that particularly, because it is billionaires who have deliberately sabotaged elections to provide a destabilised environment where they can make money faster. They use their money to impoverish large numbers of people. They subvert all the mechanisms that poorer people can otherwise use the get a fair share of the cake.

The dynamics of the battle

I remember a story, I think primarily about Hezbollah and their fighting cells. The argument went that the Israelis were ever so good at…

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