Category Archives: Economic Paradigm

New Economic Paradigm and the Culture of Entitlement

New Economic Paradigm and the Culture of Entitlement


In Canada the lack of moral compass and ethics in public and corporate life is highlighted by the Senate scandal, political leaders cushioning their income with $20,000 fees for public speaking, free embassy facilities for Cabinet ministers on vacation, the corruption of city mayors – on it goes. The culture of entitlement is rampant and has angered Canadian citizenry. Perhaps this culture of greed and entitlement is a bi-product of the economic structures we presently live in.


In whatever way the global economy is analyzed, poked and taken apart – we must recognize what it cannot do. Finance Capital has a design about securing the establishment of those conditions that ensure the continued creation of profits for the beneficiaries of capital. It does not have a design feature for morals or ethics. Morals and ethics rest with humans and it is the responsibility of humans in power to infuse, restrain and curtail the logic of capital so it may also benefit those humans who do not have a financial stake in the design structure of capital. Capital has always been amoral – it cannot on its own be anything else. Sadly, many of the controllers of capital have also been amoral for so long that our species faces possible elimination.


The Global Marshall Plan, like its namesake that restored balance to the world by funding the education and rebuilding of Europe after WWII, is based on new concepts and financial instruments. Designed to restructure world trade so that it is in synchronicity with humanitarian concerns and environmental protection, the goal is to produce an Eco-Social Market Economy as a new direction for globalization.  New structures to co-finance and equalize development worldwide rest on novel taxes on international financial transactions (Tobin Tax), on world trade and providing special drawing rights on the IMF.  This would provide the billions of dollars required to bring about a global economic miracle, which at the same time is environmentally responsible.  This radical proposal to restructure globalization has the support of prominent politicians, scholars and organisations in Europe as well as business leaders.  It has the solid support of the European Union to implement such a Planetary Contract as the first step to creating a worldwide Eco-Social Market Economy by 2015.  It is intended as a viable replacement for the present maladaptive world of free trade. Such a market structure has responsibilities for human justice issues and the eradication of poverty. Corporate culture is no longer allowed to freely make and enforce the rules for global culture and planetary care. A new structure of global governance emerges through a revamped World Trade Organization, but interestingly is still deeply founded on trade and markets. Far from eroding profitable business enterprises, this orientation assures that the most balanced, resourceful and market-sensitive companies will be the most competitive!


Where is George Carlin when we need him?

There is a seemingly immovable elephant in the middle of the culture of greed. This is the elite haven known as the Culture of Entitlement.  It coddles our bankers, investment brokers and corporate leaders in a cocoon of corruption, greed and power.  Just what would the late George Carlin have to say about this entity? George Carlin was my favourite American comedian.  Gifted with an acerbic wit, impeccable timing and scathing satire he created comedy routines that reduced world crises to hysterical tatters. Where is he when we need him the most?  Which is right now ‘midst the global circus we all inhabit.  He is of course deceased, yet I hope there is a George Carlin lurking in all of us, as I borrow his persona for a moment.  I will temper his language a little, as I want the folks reading this to get the point rather than be put off by profane language!


“Culture of Entitlement? What damn Entitlement? Don’t you see – the market took care of that problem for us – brilliantly.  It destroyed the culture of entitlement – the bankers, investment bums, hedge fund managers, corporate bandits – the market took them all and threw them into the abyss where the suckers belong. It threw them off a cliff into the deepest, darkest hole where they could never, ever climb out. Why do you think the damn market went to the trouble of creating such a drastic economic meltdown? So what do we do with this victory? We hand out parachutes, life-lines and soft landings for the giant parasites of entitlement to keep on sucking off the public teat.  We bailed the creepy, corrupt suits out.  We provided idiots with huge bonuses to retain their skills – the same skills and idiots who got us into this mess in the first place. Are we Insanely Nuts or what? President Obama – do you get it yet? Those angry voters who shellacked you in the 2010 midterm elections – remember those guys? It was their tax dollars that bailed out the creepy suits on Wall Street. The same suits that foreclosed their homes.  Connect the dots will ya?.


Do you know where the 700 billion dollars for bailouts came from?  It’s from your damn hip pocket.  Your taxes, my taxes, everybody’s taxes – spent to fix a corrupt system that is not just broken, it’s obsolete and unworkable.  The market shook it off “like fleas from the backside of a dog!” So what do we do?  We put the broken system on artificial life support.  We Are Ludicrously Nuts.  And there’s more.  The latest idiocy is to get private investors to buy the toxic assets of banks with government financial support.  That’s our taxes again people: only 75 – 100 billion dollars this time.  That guy Krugman, who got the Nobel for thinking straight, calls it by its true name – “cash-for-trash.” And our hip pocket is hung out to dry once again.  We Are Indescribably Nuts.   700 billion dollars is just the start of retaining bandits in suits so they can stab us in the wallet over and over again.  How many IRS deductions on paychecks are needed to ring up 700 billion dollars?  It’s enough to drive a dead comedian to drink.”