Thursday, February 23, 2017

economics is life


Economics is life because economics is how workers provide the necessities of life. In exchange for labor, workers earn the means to purchase food, clothing, shelter and all other sundries. But the policy and practice of economics does not account for the inherent life aspect of economics. Instead, economics is defined as "a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services" [Wikipedia]. And this has allowed governments and policy makers to couch the purpose of economic policy only to the end goal of creating capital, another word for wealth and profit.

With a 'pro-economy' argument, essentially every decision of the DJT presidency is intended to generate profits for the owner class without regard for workers. Oil pipelines have been approved at the risk of contaminating the soil and water necessary for human consumption and agriculture. Health care reform to profit insurance providers is under consideration at the risk of workers losing medical insurance or essential benefits with the projected likelihood of decreasing overall life expectancy.

These policies literally put profit over life. And that is completely contrary to the purpose of work. If work cannot provide the means to survive, their is no reason or purpose to work. So the current definition of economics is incomplete. It needs to include a purpose, the survival and wellbeing of workers. And because workers are always making more workers in the form of children, wellbeing has to extend into time, the sustained survival and wellbeing of workers.

Economic policy that must take the long term wellbeing of workers in account would change the nature of geopolitics and culture. It would be a positive change.



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