The Failure of Neoliberalism and Neoclassicism

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The Failure of Neoliberalism and Neoclassicism

The markets are failing, I think, because too much emphasis is being placed on profit maximization and not enough on the generation of value for the economy and the society.

Unfortunately for businesses, they operate at cross purposes with the rest of the economy and the society as a whole by nature (unless their owners and shareholders prioritize less on the maximization of profits and focus instead, on the maximization of well being and value for the rest of the society).  When you operate under a purely profit maximizing scheme alone, you simply are extracting wealth from the rest of society for your own small “self”, be it your own individual small “self” or your company’s small “self”.  You don’t pay your employees according to what the value of their work actually is, you cut health, safety and environmental health corners in order to save on costs and you don’t actually produce according to what you can safely and sustainably do (which keeps prices up).  It is a delusional fallacy at best to think and believe that what’s good for the company is what’s good for the society; a malicious lie at worst.

This is then where the SOCIETY, acting through the legal auspices of the GOVERNMENT needs to step in and advocate for its own health interests and well being.  The Right wing, the conservatives and the Libertarian ideologues will sell everything that we have of value out for the purely monetary shareholder return and executive compensation.  Everything that is of value is sucked out of the system in order to feed the maw of the rich.  We see this in practice in our world, and yet the Right wingers and the ideologues will still persist in advocating for what is incorrect in light of common reality, and is, in fact, hazardous to our health and well being as an individual and collective species.  They are a self-destructive lot, and it would be in all of our interests to ignore and leave their influence behind for our own sakes, as well as for their’s.  They belong in mental health clinics, they’re so delusional and negatively effective, not in positions of power, consequence and/or authority.

But, this is a judgement call that humanity as a whole is going to have to make.  It will not be I or any one individual who will make this judgment call upon the Right wing, the conservatives, and the ideologically inclined.

A shame, really, because this needs to be taken care of so immediately, for our sakes, as well as for their’s.

Think about it.


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