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What Is An Economy

April 2013

A common definition of an economy is the total financial output of a nation. That is usually expressed as Gross Domestic Product: GDP. If we have a high and increasing GDP we say we’re doing OK. If the GDP is low, we say we’re in recession. I don’t like that definition. Let me explain why.

U.S. GDP presently is allegedly high. Giant corporations today are again earning mammoth profits. Supposedly, we got out of our recession two years ago. I don’t buy that concept.

Neither do 20 to 30 million Americans who, after five years, still can’t find work. Most of them have had to move in with their parents, their in-laws, or their children to keep from being homeless. Many of the much-maligned Occupiers were and are homeless. So are 10,000 American veterans. Do you consider that a healthy economy?

Giant U.S. financial interests spent the 20th Century eliminating large numbers of private small businesses through price manipulation. Thereby, they captured domination of available markets. Through computerization, corporations eliminated millions of jobs. They outsourced jobs to foreign countries. With the Supreme Court ruling that our corporations are persons and may financially control our election process, implying we’re simply all just consumers, the deal was complete.

Until the Supreme Court reverses that decision and the government places legal financial control of elections in the hands of individual citizens, I don’t believe we have an economy.

I believe the only valid definition of a valid economy would be for American corporations to cooperate and collaborate with the government to organize relevant job training, and to share available work with all Americans who want work.

Otherwise, an alleged economy rewarding giant U. S. financial corporations while continuing to impoverish 20 to 30 million Americans, I call a simple economic exploitation machine. And I believe all of us silently accepting it, are complicit in the oiling of its gears.

From my corner, with an opinion, I’m Howell Hurst.


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