global economy

Globally the economy doesn’t seem to be working well. The rich are getting richer the poor are getting poorer and the middle class are getting crushed. Globally when financial institutions got into trouble they got bailed out while social services got cut.

When society does well people are happy with the status quo but when things go wrong people look for alternatives, the alternatives could be good or bad. Voters may choose a fairer society and a fairer economy or they could choose fundamentalism, fascism or communism.

While proponents of the present system argue that it is based on deregulation and a minimum state I think what we are seeing a shift of the state towards favouring “Wall Street” over “main street” as the Americans would say.
John O Brien.


Author: irishfabian

This blog expresses my views about the world. I am a member of the Irish Labour Party in Cork East.

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