jobs

29 Jul

Economists and Financialists

By Walter | 1 comment

1

Economics: “A social science concerned chiefly with description and analysis of the production, distribution and consumption of goods and services.”

Finance: “The science or study of the management of funds.”

Since every step in the production, distribution and consumption of goods and services involves the management of funds, the two sciences have become inseparably intertwined. This is unfortunate because the conflation of economics and finance only serves to obscure the ways in which the management of funds has taken precedence over the actual production and distribution of goods and services, to devastating effect. It would be useful to maintain a distinction between the two sciences. Call those students of the production and distribution of goods and services economists, and call those focused on the management of funds financialists. If you do, what becomes immediately evident is

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16 Apr

And the Squeeze Goes On

By Walter

As the world’s political and financial leaders seek to reinvigorate economic activity, it is no surprise that the greatest sacrifices and the largest contributions are being demanded from the workers, the laborers who actually produce stuff. As the economy begins to lurch forward in one sector or another, lack of confidence in the sustainability of the recovery is causing employers to delay hiring more workers to satisfy increasing demand. Instead, as reported in the Financial Times, “manufacturers have found that they are able to increase productivity by getting their employees to work harder or more efficiently.” If you are not squeezed out of your job, more work is squeezed out of you.

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