The Economy Can Self Correct Hegemonic Trending If Will & Vision Prevails
Jul 3, 2017 — This is my response on Tremr.com to a post that calling for shifting taxpayer incentives away from corporate welfare and towards supporting local economies:
Tremr is an international blogging community. The name came about because of this notion of starting an earthquake of ideas. Sending out ripples with your posts, shaking the media industry, that kind of thing.
You can follow and/or participate in this discussion at https://www.tremr.com/phil-orr/anti-globalism-its-time-to-grow-local-economies-by-giving-them-the-tax-incentives-not-corporations
You are on the right track that an economy has to be broad to serve all the diversity inherent in humanity but I prefer no tax incentives.
365 words (under 1 min)
The tax incentives for the top have drained the middle of its capital. and are used to replace the wealth creation equation which drives free enterprise and protects against inflation, with "social justice", Corporate welfare is a tax subsidy for the top at a cost to the whole system and is arguably a fundamental cause of the vanishing middle.
There has been a shift in the language used to talk about the economy. The concept of the middle has been replaced with "medium income", which divides the income distribution into two equal groups, half having income above the medium income and half below, giving no information about how wealth is distributed within the two parts. The emerging narrative is dividing skill levels into low skilled or highly skilled and nothing in-between. The spinning of the loss of manufacturing jobs, replaced with service jobs, is an art indeed! How wonderful it is , we are told, because service jobs pay more! The value of the work process in its own right has gone the way of the middle, vanished from the popular narrative. That is the antithesis of a diversified economy.
However as the middle declined ,a class emerged at the top distinguished by disproportionate wealth, giving rise to an expanding private giving class, which shares a wealth redistribution function with government'and is more diversified than government, which is becoming totalitarian and/or hegemonic.
Tax incentives are the instruments of government control over the economy. The philanthropy sector creates diverse options. The concept of social enterprises is on the rise which is opening the door for a new narrative in which free enterprise can be driven by principal as much as it is sustained by its wealth creating function. The purpose of the work process, for its own sake, is entering the picture again through another door. The new "social justice" is for those with the most to give back to the rest by replenishing the free enterprise system with capital , using the emergent concept of the social enterprise as its vehicle. and distributing opportunities, not just rations, to the other half of the economy. What goes around, comes around and around and around we go!