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Capitalising babies : Comments
By Helen Lobato, published 24/11/2008All the 'mother wars' regarding paid work and stay at home mothers avoid discussing the new capitalism.
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Profits are currently allowed to be maximised without many limits, which is why there are huge profits in things that people cannot substitute: Health, childcare, banking, housing.
Manipulating government health and childcare policy in the name of profits is pretty low, yet in the modern economy the norm.
Economic theory actually reveals that high profits are a sign of inadequite competition. Utility is maximised when profits are lowest. Certain "industries" should never be privatised because competition is either undesirable (medicine: race to the bottom), or unachiveable (water, power, transport).
*Some* government industries are essential. (Though certainly not all!)
We have seen how the financial system is coping with rampant capitalism. Time to revisit some of the "economic rationalism" which should be called "profit worship" and revisit the social infrastructure destroyed in the last decade.