The Economy Is Doomed Forever? - Part 2

The Fundamental approach verses the current vested interest approach

by Jahaberdeen MOhamed Yunoos.

Prologue:- the vested interest groups.

Allow me to briefly clarify what I mean by the “vested interest group”. They consist of the following groups:

1) The ‘experts’ or the ‘gurus” of the current economic ‘system’. They will argue in sophisticated language and use the favourite mesmerizing trick of charts and statistics to beguile the unsuspecting and ignorant public to sustain or to continue supporting the system. They will also present the case to the public that the world has consistently benefited from the current system and explain away major defects as transient anomalies in the system which will be ironed out. They know that we are too busy “living” and too preoccupied with our respective trivia that we leave critically important things in our lives to the gurus or the experts. Believe it or not, our educational system has been designed to make us uncritical and averse to thinking and to turn us into mere worker ants. We seem to forget however, that we are created as human beings and not ants.

2) The economic/financial advisers/ executives – the fanatical disciples of the gurus or experts who have everything to lose if the entire system was revamped or thrown out. You will notice that only those who are agreeable to the axioms, theorems and processes of the economic system will be hailed as “excellent”, “brilliant” and therefore given positions to safeguard the system. Hence, we must be totally gullible fools to expect these very same people to reform the system that they want to safeguard!

3) The politicians in the “democratic-capitalistic” system of governance. The political structure is based on the basis of “vote-buying” in various forms and it has worked well for sustaining the political elites in power. There has to be major inequality between them and the majority of the citizens to enable them to lord over the citizens. It is not accidental. It is deliberate. This is called ensuring that “the playing field is not level”. The masses are forever kept in the position of dependence on their political lords. If we had landlord-peasant relationship in the past, we still have the same relationship but called differently.

With very few exceptions, all over the democratic-capitalistic world, political power has become the inheritance of select elitist families for decades.

Further more, the current political thought in so-called democratic societies accept that funding and lots of them are necessary for anyone who aspires to serve the country. Can you see the contradiction in terms which we seem to have helplessly and ignorantly accepted? The source of such funding can only come from the current economic system. Is this why capitalism, especially financial capitalism and current form of “democracy” go hand in glove with each other? These politicians have a vested interest for the system not to be reformed fundamentally.

4) Further more, the current political thought in so-called democratic societies accept that funding and lots of them are necessary for anyone who aspires to serve the country. To get into the position where you want to contribute, you must first be wealthy! Can you see the contradiction in terms which we seem to have helplessly and ignorantly accepted? The source of such funding can only come from the current economic system. Is this why capitalism, especially financial capitalism and current form of “democracy” go hand in glove with each other? These politicians have a vested interest for the system not to be reformed fundamentally.

The political system with its need for “political funds” necessarily gives rise to the need for cronyism, nepotism and corruption. As long as the current democratic-capitalistic system and current political thought dominates, these can never be eliminated. All over the “democratic world”, you will find that top politicians have their hand deep in some critical and profitable business either directly or indirectly. They depend on the current economic “system” for their power and maintenance of lifestyles.

Have you not realized that no politician has seriously implemented a policy of complete non involvement in business by anyone who is part of the Government?


5) The capitalist lords themselves. All over the world, industries and sectors are controlled by families or select elitist groups. It is always the same people. With the capital that they have, they exert tremendous power over the shaping of opinions in all aspect of life all over the world. They have in their armoury not only capital but through it so-called experts to endorse what they want, diverse institutions (including and especially institutions of “learning” for the purposes of indoctrination), and such. It is a massive network beyond the reach and understanding of the commoner.

The vested groups will never allow for any fundamental change in the current system or thought even though it may benefit the greater majority of the people in a real sense (not cosmetic as it is now). Hence, do not expect any real change, maybe semblance of change but it is still within the same arena with the same players and hence, the same set of problems for the greater majority.

And for those who are hardcore mentally indolent - imagine you being in politics for 15 years and has never held a permanent job or in any real business, is it possible for you to own a bungalow? If you look around, you will find many such folks who not only own bungalows but are able to live lifestyles which even a hardworking lawyer or architect is unable to afford in relative terms! This is the “miracle” of the capitalistic-democratic system for its diehard disciples and worshippers.

In brief, therefore, the vested interest approach will not be interested to reform the system fundamentally. Whatever “reforms” they present will be peripherals that will not hurt the system and hence, them. Can you imagine a banker agreeing that they will now behave like all other businesses ie take business risks as usual without the mind boggling special protection that they now enjoy?

And the consistent problem with the laid back public is this: what they do not understand, they applaud. Heroes are made not because the person is ‘heroic’ but because the rest are turkeys (no offence to the turkey).

NEXT: THE FUNDAMENTAL APPROACH.