Time for a New Capitalism? Germany, France, and England Say Yes

When I think of Obama’s coming stimulus package and the massive billions spent on bailouts, I can’t help feeling like someone is throwing an extravagant party while the mortgage goes unpaid and there are no diapers for the baby. It seems mysterious and weirdly ominous that no one is asking us to change how we think, or to imagine a different way to do business. It feels like the message so far is, “Sit tight. It’ll all be over soon.” Hmmm, sounds to me like some heavy denial. After all, we’ve just been through a catastrophic failure of a core aspect–investment banking!–of our capitalist system. Why is no one asking us to sacrifice? Instead, it seems like we’re so hooked on the easy money drug that we just expect government to fix it all.

According to an AP report from Paris:

Merkel said the International Monetary Fund has not managed to regulate global capitalism, and she called for the creation of an economy body at the United Nations, similar to the Security Council, to judge government policy. Speaking at the conference, European Competition Commissioner Neelie Kroes said “global rules” on government aid to companies would be helpful. “A closer network of competition systems is slowly emerging after decades of work,” she said.

Sarkozy blamed financial speculators for encouraging a system fueled on debt. He called financial capitalism based on speculation “an immoral system” that has perverted the logic of capitalism. “It’s a system where wealth goes to the wealthy, where work is devalued, where production is devalued, where entrepreneurial spirit is devalued,” he said.

But no more: “In capitalism of the 21st century, there is room for the state,” he said.

There’s a huge distinction in Sarkozy’s view of the role government plays in capitalism. Here in the US, we see the government as serving capitalism, creating an environment conducive to healthy markets. In Sarkozy’s view, the state serves the needs of people first. I don’t see the US becoming socialist anytime soon, but it would be nice to know that government at all levels serves people first, and ready for this??? Serves each according to his needs, from each according to his means. Youch! Did I just dare to say that? It’s Karl Marx talking, but it’s also humanitarian. We still have a huge number of people in this country who don’t want to help poor, sick, or otherwise needy citizens. Think of the number of wealthy people collecting Social Security while so many elderly people live in poverty. But then, no one in government has asked those well-off people if they’d rather transfer their benefits to help those who might need it more. What would the budget look like if we decided on an individual basis where our taxes went? Would the military be funded so highly? Would social programs fail outright if the taxes that support them weren’t mandatory? Why is there no polling on how federal monies are spent? (State budgets down to the local level seem more represented by votes than the massive federal budget.) Are there benefits that some people would be willing to give up? Are there people who’d be willing to pay higher taxes? Unfortunately, communication to federal lawmakers is grossly distorted by lobbyists and PACs. (I’m so happy when “the blogosphere” is taken into account!)

It’s time to make a shift away from our status as spoiled Americans. It’s time to give back, time to get lean and green, assiduously plan for our own retirement, work hard, be grateful. I love this country and want to hand it over to my children in good shape. I’m even willing to pay higher taxes to get there. Our job is not to spend ourselves silly and acquire. Our job is to be good people, good citizens of the planet. Let the change come.

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January 8, 2009 | Filed Under Perfect World 

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