The new value of work
The consumer class has become exhausted at all levels. This is the freezing of the credit markets: people don’t want to consume anymore.
The fact is the money that our economy functions with has no underlying value. It’s completely imaginary. This is why the monetarist theory is failing. We can of course always print more, can’t we? I used to be a Monetarist when I worked in the securities industry. There is something very appealing to the Monetarist mindset; we can control and stablize the economy by controlling the money in the marketplace. When this money does not represent real value (be it work gold etc.) and all value is derivative we get in the situation where we are today, with a working class that wants to work and build for the future, not consume today with no future tomorrow.
Our system has failed us when we have work to be done, and people to do it, but the system actively keeps the workers from work.
Nobody wants to let go of their stack of cash, for fear that it will be worthless. It is worthless.
I’m calling on all my friends to end the consumer class. What will be the currency of our post consumer era?
doubleplusthanks to my sexy editor