Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
But that's a very 70s mindset itself, with the implication that capitalism is fine as long as the rentiers can be forced to create jobs.

Capitalism isn't fine, jobs or no. Capitalism is a political feedback loop which always concentrates policy access among a tiny minority. Even if there are jobs, the best you can hope for is a temporary respite from policy monopoly.

In the UK, after a hundred and fifty years of socialist history there were maybe 20 years in total - it could be as few as fifteen - where policy was designed to be politically liberating and bottom up.

The rest of the time, it was top-down and pro-rentier.

Jobs are irrelevant. They're too fragile, too subject to political whims pretending to be economic necessity, and not democratic enough.

The only way to eliminate the rentier model completely is to open project investment to the public, convert corporations into coops, and exclude high net worth individuals from politics.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue Jan 31st, 2012 at 06:39:54 AM EST
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