Thursday, May 28, 2015

We need more capitalist ideology in this country, not less.

I'm afraid Paul Mason does not understand capitalism.

One must also include the New Statesman (all of them, men and women) in that judgement.

"...we fear fear automating en masse because we can't imagine what jobs people will do who are displaced" says Paul Mason.

Under Margaret Thatcher's vision of a share-owning democracy ordinary people would own the shares of the companies in which they work.  This model already exists in John Lewis.  Therefore as employees are "displaced" due to automation the company will make savings which will then handed to share-holders - the very people who are "displaced".

Instead of an individual's income coming from wages and salaries, increasingly the source of wealth should come from dividend payments of automated (and globalised) companies.  And not just single companies but funds (assuming the funds sector can be cleaned up).  The model already exists in the form of pensions which are paid by pension funds which in turn own most of our leading companies.

Of course, ordinary people need access to shares in the companies they work for, safeguards over their holdings, and completely free fair and transparent information.

But we need more capitalist ideology in this country, not less.

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