Saturday 14 May 2016

The GOP, Republicans, and free market capitalism

The GOP's website features under the 'Republican Platform' the programme Restoring the American Dream: Economy and Jobs. Under subsection heading 'Job Creation: Getting Americans back to work' we find a long tirade about how everyone will be better off thanks to some - unexplained - 'roaring' economic growth. The paragraph ends by saying "Republicans will pursue free market policies that are the surest way to boost employment and create job growth and economic prosperity for all."

Sure this is an empty promise. But beyond that it is also widely deceiving. What we see these days is that the distance between the wealthiest people in society and the most disadvantaged ones is bigger than before WWI, when many Europeans countries still had Aristocrats who fell under different rules. This enormous level of inequality is coupled with i) housing problems, ii) rising rent levels, iii) rising debt levels, iv) governments cutting down on social services, education, and health services. These processes together lead to even more suffering and vulnerability for the majority of people.

What the Republicans are proposing is to make this situation even worse. The problem with the current, heavily de-regulated US and European free market economies is not that they don't offer chances, options, or freedom to choose one's jobs. The problem is that thanks to the deregulation most people who don't have extensive financial resources - and that is the majority of society - don't have viable options that would allow them to i) pay for their rent/mortgage, ii) make savings, iii) educate their children, iv) pay their bills in case of healthcare relate bigger expenses. What the Republicans are proposing is to exacerbate this situation. The owners of companies, factories, etc. will be able to offer even more demeaning, predatory, and exploitative work arrangements. I don't think there is anything compelling in voting for such a party.
 

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