The blog provides a left-wing non-partisan perspective on socio-economic issues in Russia and throughout the world. The focus is on qualitative development of national economic systems and ensuring flexibility in economic policies to meet the challenges of the 21st century. Email: leftistobserver@gmail.com

PROPAGANDA ECONOMICS

I honestly hope that these global economic hardships will teach humanity a good lesson. While realizing the catastrophic effects of a global economic collapse, I, in a sense, welcome this crisis in hopes that it can wake us up to the nasty economic reality we are in. Corporate economists together with politicians and mainstream media are shouting their heads off convincing everybody that the dolce vita snatched away by the “financial crisis” is about to return soon – it is just around the corner. These are the times of propaganda economics when a bunch of highly-paid clowns tell the common folk stories about the free-market neverland in order to soothe them into complacency and inertness.

Under the watchful gaze from boardrooms and CEO offices, this charlatan circus hits the road each time corporate revenues stop rising. When things get really rough, some politician gets assigned to play Peter Pan in this show. His opening lines about refusing to grow up are apparently designed to convince adults that it is not yet time to wise up. And most end up remaining in childish delusions.

Any sensible economist – whose mouth is not gagged with employment obligations to transnational corporations and whose hands are not soiled from slicing up developing countries throughout the world – will agree that the path the world economy is on leads to greater social and economic dangers in the future. He or she would agree that the profession of an economist faces a serious conflict of interest these days, but corporate elites would like to remain silent about.

As a pharmacist finds it more profitable to sell painkillers rather than provide a cure, a modern economist is trained to ensure enrichment of his bosses rather than solve economic problems. Like a ravaging pack of wolves, they plunder entire countries by exploiting their weaknesses while long-term consequences of their decisions are ignored due to the irrelevance to the short-term profitability.

There must be a moral side to economics, but expecting morality from a businessman together with the economists on his payroll is akin to expecting loyalty from a hyena. This is especially true in hard times like today.


Boris Anisimov

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