04 October 2010

Pump priming as plunder promotion

The deficit spending governments have to do (ostensibly to 'prime the pump' of economic growth) is a symptom of how it is that market economies are really about the disequilibrium of mining the fertile core. That governments have to unbalance their budgets to get their economies running, that it seems like it's almost never a good idea for government to run surpluses, that market economies seem to lead to consumer demand and higher and higher debt burdens, all that points to a system that doesn't really work. The macroeconomic instability we repeatedly see in large industrial economies is the result of the contradictions implicit in the micro-economics of market driven, price-based allocations.

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