By Letter to the Editor on October 13, 2021.
Anyone who has observed events in the business world or the economy must be aware of the major drain on everything since the 1970s, by our subsidy of major corporations. Today, business has been so spoiled by their endless lobby groups that protect and coddle them with taxpayer’s money. They have lost contact with real business operating principles like contingency funding.
Before the Reagan/Greenspan and Thatcher era business attitudes were focused on service to customers. Those were the days when “the customer was always right.” Because the whole purpose of business was to provide for the needs of the public, and customers.
Hudson’s Bay and Simpson Sears set the example, guaranteeing satisfaction with their products and service.
Television advertising began to change with the idea that the public needed to be convinced of ever-expanding economic growth. Not whether we needed products, but the economy had to be sustained.
International corporate trade deals were set up not to serve society, but to maintain annual profits. Governments are no longer allowed to interfere with corporate expectations and incomes.
We were taught to spend beyond our income with quick and ready credit. The income of workers was no longer allowed to reflect the costs of raising a family and staying solvent. All balance and limitations previously established to prevent abuse of the people was removed to allow unlimited, “sky-is-the-limit” money speculation. The “market” became the be-all and end-all of value. Oil corporations demanded annual subsidy.
The definitions of “the economy” and “capital” were left to economists. Attitudes and values became professional considerations and no longer open to the general population.
Workers no longer allowed to form unions to represent their economic interests; because they might interfere with the health of this theoretical economy. Everyone required a professional resume to qualify for economic existence.