Go Bernie. Rattle those self-satisfied cages.

From Bernie Sanders, via the Washington Post, the wisdom and fundamental decency of democratic socialism:

There are very few unspoken rules among major-party candidates for president, and Bernie Sanders is breaking one of them. He’s saying that America’s leaders shouldn’t worry so much about economic growth if that growth serves to enrich only the wealthiest Americans.

"Our economic goals have to be redistributing a significant amount of [wealth] back from the top 1 percent," Sanders said in a recent interview, even if that redistribution slows the economy overall.

"Unchecked growth – especially when 99 percent of all new income goes to the top 1 percent – is absurd," he said. "Where we’ve got to move is not growth for the sake of growth, but we’ve got to move to a society that provides a high quality of life for all of our people."

Sanders' comments will, no doubt, be twisted into an anti-growth philosophy, which is not what Sanders is advocating. But that's OK. Such is politics. What Sanders is advocating is, in part, what Thomas Piketty — no economics slouch — recommends in Capital in the Twenty-First Century: an organic restructuring of national and global wealth, so that the engines of growth are tuned to social purpose. And whenever middle America comes to think of it, what other purpose should capitalism serve?

I'm also not particularly disheartened by the coming distortions of Sanders' comments since his remarks are but a lightning assault on, and necessary counterreaction to, the madness of modern capitalism — the "dung of the devil," in Pope Francis' marvelous, imaginative words. Distortions will only bring publicity to Sanders' shock-troop tactic, and the more publicity the better. Bit by bit, some of its content — chiefly, that of fundamental decency as the goal — will sink in.

 

Comments

[Peter G]

A noble goal has Bernie.

Here are two ways not to do that which are spectacularly disastrous. The George Bush American way, which was to broadly encourage investment in home ownership through easy credit to the suspiciously marginal. Which was based on the theory that house prices would ever rise and equity vest with new home "owners" that they could claim by refinancing while allowing financial juggernauts to harvest billions by packaging bundles mortgages as Triple A investments. Works great until it doesn't.

The Chinese Way, wherein you allow those with little capital to "buy" into the Chinese stock market with laughably small margins creating demand for stock, further driving prices ever skyward. Also works great until it doesn't and margin calls go out. Which causes imaginary equity gains like imaginary home equity to vanish in a puff of smoke.

There's a message in this. Beware of politicians bearing easy paths to distributing prosperity. Try taxes.

[The Raven]

Sigh. I wish I believed that he was tough enough to pull it off. Remember, too, he's spent decades in the Senate, compromising, because the Senate's rules and customs force that on Senators. If he takes on the banksters, he's going to face tough opponents. The man is 73 years old. If elected, at the end of his term he would be 80. I have trouble believing he's up to the job. :-(

[Peter G]

If he gets enough people thinking in the right direction that will be enough.

[teabow]

"Bit by bit, some of its content — chiefly, that of fundamental decency as the goal — will sink in."

One can only hope.

[RT]

I'm glad to see a politician ask the question: What is an economy FOR, anyway?

[Bob]

If Bernie can convince a significant number of people the economy should serve them and not the other way around it will be a major victory. He might not be a perfect candidate, but the man is filling an important role admirably.

[David & Son of Duff]

Well, you don't have to wait for 'President' Sanders to implement his policies in order to see how they work out in practice, just take a long, hard look at France with its statutory 35-hour week, early retirement and mega-high taxes on the wealthy. Result, the wealthy (or lots of 'em) have decamped to London and France has huge unemployment figures so now the youngsters are fleeing to Britain to find jobs, too.

Like all socialists he never stops telling us how he is going *spend* (redistribute?) the wealth but he never mentions how he is going to *produce* any wealth in the first place.

[Bob]

Ha! If you think the American idea of socialism is anything like France's you are highly mis- or uninformed. Our history is very different, as you yourself have pointed out concerning our revolutions. If the French style of socialism ever makes its way to The States it won't be in the foreseeable future.

[David & Son of Duff]

Dream on!

[Bob]

I just had a wide awake dream that a possible majority of our conservatives consider England something of a Marxist nightmare. You have, *gasp*, socialized medicine. What do you think about that, comrade?

[David & Son of Duff]

I think it stinks, just as all state-run 'enterprises' do!

[Bob]

Too bad you never got to experience our privately run system before Obamacare. Believe me, to really fuck things up takes profit motive.

[David & Son of Duff]

https://en.wikipedia.org/wiki/Stafford_Hospital_scandal

'Nuff said, I feel!