I woke up this morning thinking about the type of people who are thrown up by our political systems and put before us for election. I have spent the last few days mulling over the surge of support for Jeremy Corbyn’s leadership bid and that alone would have given me reason enough to put this rant down on paper. But the actual spark came from a member of that monument to democracy, the Bush dynasty.
The mantle of political entitlement has now passed to Jeb and he picks up where his celebrated brother left off by completely misunderstanding the world around him. This week he made a few headlines with his outrage at Obama’s plan to extend overtime coverage to managers earning below $50,440 per year (essentially reducing the possibility of lower salaried workers being forced to work additional hours for no extra pay). Jeb was stunned by this frivolity and, on top of claiming that Americans need to work more hours, not less, he showed his finely tuned economic skills by telling us that this new rule would result in less overtime pay and less wages earned. Sensible members of the human race (and a few economists) were quick to point out the many flaws in this reasoning. First of all, by curbing the exploitation of some managers, employers would be forced to use more workers and/or additional overtime to pay to cover the same workload. The argument that companies would cut salaries to compensate for this new rule is just not credible.
With capitalism in the doldrums and a general election nearly upon us it is the season to reflect on how we might manage to convert the neoliberal, market-driven free-for-all of our current society into something we might actually like to live in. Will Hutton set the ball rolling in the Guardian yesterday with a lengthy promotion of his new book, which lays out a new framework for building “smart societies.” Hutton’s critique of the existing order raises some salient points and only those living on the moon over the last generation or three could have failed to notice that “problems in the British economy and society run deep.” He is also right in asserting that, if “there are no networks of reciprocal obligation, and no acknowledgement that human beings associate in a society they can construct, redesign and reform around those principles, then we are all reduced to atomistic consumers and workers – serfs who are no more than notations in the spreadsheets of companies and public bodies alike.”
The problem with Hutton’s analysis, however, is that he still puts business and wealth creation at the heart of society. “The aim of any manifesto for change” says Hutton “must be to create the smartest economy for Britain – it is the only route to prosperity in the decades ahead.” Refining the mechanisms of wealth generation is all very well but surely this should not take precedence over the social and human fabric of the world we live in. Unfortunately, Hutton is a little sketchy on this issue and even though he is adamant that businesses should not solely tools of stock market speculation, he also declares that “companies are organisations of genius, solving problems, innovating and delivering great goods and services.” ICI, GEC and Rolls Royce are all used to show Britain’s great industrial tradition but he conveniently forgets recent allegations of corruption and bribery in the latter.