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The IR conundrum: society or economy? : Comments
By Tim Martyn, published 15/11/2005Tim Martyn argues there is a trade off between society and the economy with Australia's new industrial relations laws.
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Economists are not well fitted to explore the human realities of hearts and minds, but it would seem that some kind of change of heart at the controlling levels of the world economy is needed if there is to be a fair distribution of the financial outcomes of a fully globalized economy - for Chinese as well as Australians. Multi-million dollar pay and indeed payouts at the top end and depressed worker wages are inconsistent with a decent regard for fellow human beings, but how can the rich be induced to recognise that there are worthwhile alternatives to wealth?
One partial solution might be the abandonment of the current fawning adulation and media induced hero-worship of the mega-rich. Let the wealthy have prestige, admiration and respect in so far as they practice their philanthropy; let them be conspicuously scorned as the heartless philistines they are if they persist in the mindless parading of their unconscionable ill-gotten affluence. This kind of response is within the power of ordinary people who can reject the manipulations of the media of mass misunderstanding.
Does it have to come to the point of the first and famous French Revolution before privilege for the wealthy and pain for the poor manifests in violent social upheaval that throws doubt upon whether huge social inequality is worth it for anybody. The current situation in France suggests that other societies are madly headed in the same direction. Do we have to be so stupid?