I’ve been trying to make sense lately of an avalanche of economic news and social data that has overtaken us and in particular has implications for the young and disenfranchised worldwide.
On the one hand bankers, politicians and media magnates in suits have got away with crimes that seem only to empower the apparatus of what is looking like an increasingly discredited and ailing economic system. On the other hand looters are venting their anger by targeting the very consumer goods produced by that system. It’s hard to separate the looming economic collapse from the steady erosion of morality across society in general, yet the traditional media at first seem reluctant to make that connection. Perhaps because they are entirely complicit.
Phone tapping and gross invasion of personal privacy were the hallmark of Murdoch’s now discredited tabloids. Perhaps the tattle tale gossip was a tonic aimed squarely at deflecting attention by the masses from the really big issues facing the world? At first glance there may seem to be no connection between double-dipping politicians, eavesdropping media and riots. But England is clearly a nation in crisis on many levels at present and where England goes others in the Eurozone are sure to follow. That has implications for global sentiment, which impacts on small trading nations such as ours.
Now Prime Minister John Key is promoting a poor card for young beneficiaries in an effort to curb welfare dependency and the misappropriation of state funds. Isn’t this precisely the kind of misdirected, pandering politics that brought England to its knees? More importantly, where is the leadership vision that will drive meaningful economic growth, promote education and create jobs for young people instead? There was one good news story however. According to a recent report on the economic cost of failing to invest in early childhood, it turns out we beat Turkey and Mexico in an OECD ranking of social spending in this area. That is simply embarrassing.
Where are we going?