[Buddha-l] Getting real about Buddhism and capitalism

[Erik Hoogcarspel]

jkirk schreef:

> Fascinating--that he even anticipated Keynes on thrift. He could be 
> seen as the first exponent of "trickle-down" economics, the optimistic 
> (but erroneous) view that as the rich get richer they spend more thus 
> creating jobs that wil trickle down to the poor.
>
> Problem with this is that the rich do not spend that much--they invest 
> most of their gains to create further paper gains--today most of what 
> they spend is on imports (BMWs, Mercedes, Paris and Milan fashion and 
> residences in foreign countries)--not on things that would generate 
> significant job increases in their own countries.
>
> But trickle-down, contrary to all the evidence, is still the mantra of 
> the Republican Party bee-hive, Bush & co.
>
What Mandeville, Smith and Keynes couldn't see are the environmental problems. I read in an article in Le Monde that economists expect the wages of India to become equal to Western standards within 22 years. China is going much faster and will reach the level (my guess) within 10 years. There's not enough material on earth to satisfy the enormous demand for luxury goods in the future. Already now the increase in demand for airconditionings puts a heavy strain on China's electricity supplies. Still economists believe in the growth model, which in our economy of reproduction means an unlimited production of demand, greed in Buddhist terms. So mass production is entails the prodcution of a mass of unsatified consumers. Buddhists can even use the 12 nidaanas to show how this works. Wasn't there a guy named Schumpeter who dreamed about a Buddhist economy? 

Erik


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