Thursday 26 April 2012

Economic Burdens Not Fairly Shared

Globespan has released details of a survey that the have conducted on behalf of the BBC World Service.

61% of 11,740 people interviewed across 22 countries ( including the UK ) believe that economic burdens are being unfairly distributed among populations.

The percentage of dissatisfaction has increased from previous surveys.

Not surprising, but a further indication of strains between citizens and their masters. 

The UK is now officially in recession which ( using the Spanish data within the survey ) is only going to result in an increase of anger and pain in the UK electorate.

However, would an economic miracle and a dramatic increase in wealth across the board persuade everybody that the current economic model is perfect ?

Put another way, would a unregulated free market resulting in the magic " silver bullet " convince the British that there should be no regulation of banks, big business etc ?

I genuinely think not. There are generations that will never forget the current economic downturn and the behaviour of the City and the banks,

Therefore some sort of regulation of business and markets is a prerequisite to a citizens perception of well being. If this principal is accepted then the only questions that remain are :-

What types of regulation ?

How much regulation ?

Who regulates the regulator ?

Small government does not sit easily with this ethos nor does " light touch regulation ".

Nor does the mantra " keep the markets happy " because the markets will scream blue murder at any controls on their behaviour.

The moral of the story is that whenever you hear a politician, economist or worst of all, a " City expert " saying that the government must bow to market forces  and deregulate, what you really hearing is that person saying " screw you ! I/we don’t care as to your well being "

Good to remember this next time you vote.

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