Posts for Tag: economics

The paradigm is the problem

The economic paradigm of human organization doesn’t care. About life. Yours, mine, our grandkids, our planet’s. In any of it’s three aspects: not it’s potential, nor it’s possibility, nor it’s reality—life a beautiful and universal quest for self-realization. It’s sole end is maximizing immediate income. It doesn’t care if you’re happy or miserable, if you’re fulfilled or hollow, if you’re humane and gentle and wise or cruel and brutish and spiteful, if you flourish or wither as a human being, if the oceans dry up and die or teem joyously, if the skies turn to ash, if if you, me, our grandkids, or the planet, dies young or old, or if any of us live or die at all, in fact. It just doesn’t care. It wasn’t designed to. Thus, all that possibility, all that potential, is never realized: it’s used up to maximize immediate income. More and more, maximizing immediate income minimizes life’s potential....

Climate change happens when the planet’s well-being is used up to maximize immediate income. Stagnation happens when people’s well-being is used up to maximize immediate income. Inequality happens when a society’s well-being is used up to maximize immediate income. And extremism is a result of all that ripping yesterday’s stable and prosperous social contracts to shreds. Today’s great global problems are just surface manifestations of the same underlying breakdown — a badly, fatally, irreparably broken paradigm of human organization.

The paradigm is the problem. A solely, paradigmatically, one-dimensional economic approach to human organization. That old, rusting, busted, industrial-age, economic paradigm is what’s created the Massive Existential Threats the world faces today. The single-minded pursuit of maximizing short-term income (versus, for example, optimizing long-run well-being) is what’s ignited inequality, stagnation, climate change, and extremism—and the later problems that are likely to stem from them.

And so—it’s no coincidence—here we are. Desperately clutching the controls in a nose dive of human possibility. But the controls don’t seem to work anymore, do they?

Umair Haque, "The Story: Life, the World, Now, You, and Me" (Eudaimonia & Co. blog, Sep. 14, 2017), retrieved from https://eand.co/the-story-eea04d97062b.

The Religion of the Market

[For] all of the religions of the world, however they differ from one another, the religion of The Market has become the most formidable rival, the more so because it is rarely recognized as a religion. The traditional religions and the religion of the global market ... hold radically different views of nature. In Christianity and Judaism, for example, "the earth is the Lord's and the fullness thereof, the world and all that dwell therein." The Creator appoints human beings as stewards and gardeners but, as it were, retains title to the earth.... In The Market religion, however, human beings, more particularly those with money, own anything they buy and—within certain limits—can dispose of anything they choose.

Harvey Cox, "The Market as God," Atlantic Monthly, March 1999, 18-23.