Wednesday, October 19, 2011

Is money the only problem?

I’m talking about our system right now, no my own situation, is money really the only problem? I mean lets say the occupy wall street and the other anti capitalistic movement manage to do what they seem to want and “overthrow” capitalism in favor of a more equalitarian society, would the problem we now face be solved?

I do admit and believe that people and institution with money have an undue weight in our western society. It is far too easy for rich people to influence the decision of the elected (or unelected official for that matter) with gift, and reason that their welfare help the nation through jobs and investment. It is after all much easier to answer the needs and question of a single person than those of the population.

Now, lets say we get the rich to pay a larger share of their income in taxes or whatever do we solve the problems? Even with a 100% tax rate for the wealthiest 1% of America you do not make a significant dent in the deficit and debt. Not only that but with any reasonable tax rate, the wealthy still have more than enough influence to put their goal in the center of the political stage.

In fact, I think that adding regulations to prevent the kind of action that lead to the debt crisis we are currently facing will not help the situation much. I think that we need innovation, new ideas and new views to solve this problem and these kind of things flourish in free environment, not in restrictive one. We need more freedom, and it counter part more responsibilities. That means less bailout, even if in the short term it is going to hurt the economy and job market, failure must be an option in our economic system at every level, nothing should be too big to fall.

Finally, we need the democracy to become more direct, our distant representative system as been created for a time where travel times and communication times could take days or weeks between two points in a single country.  We now live in a world where even third world country have access to light speed, reliable, cheap communication (in the form mostly of cell phones). This means that it is much easier to communicate, to share ideas, to figure new things, laws and the future of the country shouldn’t be decided by distant representative only accountable every few years. The representative should be easy to reach, and easy to make accountable and be replaced. Even in a country such as Canada it should be much easier and cheaper to hold mass election.

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