Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
<blockqoute>As it were, we have the perfect target for that spending: energy infrastructure - improving the housing stock, building public transport networks, and renewable energy.  Jobs, and the solution to the two most pressing long term problems: fossil fuels depletion and global warming.</blockqoute>

I agree, of course. However, to employ econo-speak, is policy of this sort going to be Pareto optimal, or is going to involve increasing the tax take from people who are doing well, and using it to boost the consumption of those who are not doing well.

And more, if this sort of "green stimlus" is going to have any effect on increasing consumption, it's going to have to be directed at those with lower incomes who will actually spend the money instead of of putting it into a Swiss Bank (thought I hear that Lichenstein is the new Switzerland....)

Who is out there putting in these terms, and putting it into proper proportion, i.e. explaining that we are talking about spending that is on order with multiples of GDP, not percentages?

Ironically, in global terms, Labor is far less powerful politically now than it was in 1929.

The Labour party has slipped the leash of labor unions, and now sees itself as master to, rather than servant of, the TUC.

And don't get me started on the US Democratic party.

Where, globally, is labor organized into a politically relevant force?

I see a lot of promise in this crisis, but I also see very real peril.  Of collapse, economic and social.  Of anti-democratic forces rising in Europe and America.

I'm thinking of Smedley Butler, and wondering what it means that the past 10 years have seen the creation of a private military industry outside the control of the State.

And I'm worried.

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Sun Oct 12th, 2008 at 05:20:07 PM EST
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