If I had my way I'd abolish the whole lot. Our growth obsessed, planet destroying, 1% of the world's population controlling 44% of the wealth, crony capitalism in bed with governments to protect that 1%.
Ultimately humans will need to get by with fewer "things", there will probably need to be fewer of us, and we'll need to be much more cognizant of the actual real world we live in.
Perpetual growth with resources understood of as an "externality" is economic *smile* and destroys the planet.
There’s a bit to unpick there:
- whether the 1% controls 44% or 90% doesn’t tell you whether this is good or bad. The 1% also is not a static group of people, it involves much churn
- yes the politically influential use the government’s power to bestow advantages upon themselves. So isn’t the answer to remove the government’s power?
- growth can only be achieved by making labour more productive, something that should always be strived for. What we have now is growth fuelled by inflation which is not growth at all but fools many people for a long time.
- externalities, I assume you mean things like environmental damage. The best way to have that priced in correctly is to do away with public property and have properly understood and respected property rights. Only then can long term capital value incentives (such as a healthy environment) be considered in economic calculus.
