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Michael Taft - Towards a New Economic Narrative
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worker & community struggles and protests |
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Thursday March 12, 2009 00:09 by Mark C - Contact.ie
A new 10-point programme for economic recovery and renewal
The Right are having a field day in the economic debate. It's time progressives take to the pitch. In 'Towards A New Economic Narrative', Michael Taft of Notes on the Front outlines a ten point programme to kickstart an alternative debate. It includes: Borrow 'Till We Drop * Tax Lay-About Capital, Not Work * Public Safety Committees * Spread It Around * Competition This! * Go On a (Social) Binge * A New Green Deal * Money's Too Tight To Mention * The Enterprise Guarantee * Reinventing Public Economic Activity
A (very basic) Summary of the "Narrative" This is not the last word. It's the first of many words. But one thing is certain: the Left must become audacious and present a bold economic package to people. It we don't, the Right will continue to drive the debate, the Left will become marginalised and the economy will continue its ever downward sprial.
One could read Michael Taft's articles for style alone, if the content were not of such import. His “The Recession Diaries” published (at least) daily on his blog and also on Irish Left Review makes for fascinating reading. The insights succinct, the criticisms sharp.
3) Public Safety Committees
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Jump To Comment: 1 2He notes the Indymedia Article and provides an updated contextualisation of his 'new Economic Narrative' essay.
http://notesonthefront.typepad.com/politicaleconomy/200....html
Here's an alternative alternative economic program:
- Nationalise the gas. All OUR base belong to US.
- institute a Special Strategic Retraining Initiative to transform furloughed builders into small-scale market gardeners
- liberalise trading regulations to promote flea markets and farmers markets & subsidise venues
- institute price-controls in insurance for markets, food producers, crafts, cottage industries
- institute price-controls in retail and wholesale; a sharply progressive tax on profits (they have this in e.g. belgium), targetted and food, clothing, books, gardening stuff, knitting, sewing, baking
- more & bigger grants for sustainable power (some of this already happening), solar, wind, hydro, insulation
- radical overhaul of tax laws: devise a fair and progressive tax regime, with the express intent of using a share of profits to support irish society; implement it simultaneously with the annulment of all previous tax laws with thier million-and-one loopholes (probably hoping for too much here ;)
- appropriate properties empty for more than X months to be made available at very minimally priced 1-year leases to the disadvantaged, family housing and also non-residential spaces for youth and community projects
- green spaces around towns and cities to be made available to households to grow food (e.g. allotments in phoenix park) for nominal charge
In short, reskilling the unemployed towards farming,
using empty houses for social housing,
keynsian spending for energy generation & conservation & food production.
The worst-case scenario is that the depression turns out to be L-shaped rather than U- or V-shaped (cf Nouriel Roubini), and if that were to occur (risk factor is maybe 40%?) than we definately wouldn't want to be indebted up to out eyeballs.
The IMF would have us in effective indentured servitude .. check out Argentina, Madegascar, Ukraine, Iceland, .....