citizens can go back to ‘conservative economy’ or they can call for politicians who are competent and honest
ZARAGOZA, SPAIN: We know that the economic activity has an objective to satisfy human material needs in the best way possible. However, the human being is not only a being of material needs — food, clothing, home, health, etc — but also of constant aspiration to achieve better living conditions in general.
Our ancestors had same needs and desires but they either accepted their lifestyle more or less primitive in terms of comforts and services, or they settled down on what can be called ‘conservative economics’, that is, to work, save and finally enjoy, buying material goods that they needed or liked, and they could afford. With this economic philosophy, they were never trapped by their own economic decisions. They didn’t tend to owe anything to anybody because they refrained from buying on credit, and in this way, they could only fear the lack of work and therefore the lack of income and the coming of a long or serious illness.
With the development of new goods that make life more active and enjoyable, such as cars, home appliances, aircraft, etc, progressive economic policies emerged. Based on credit purchase, they got the form of economic life of people reverted: enjoy, work and pay while we can. The welfare state (when the state guarantees all people health, aid in case of unemployment and pension or economic aid in case of retirement) contributed to this new approach.
But not all the politicians — who administer the enormous public wealth needed to face up to those obligations assumed by the state, called social security — are competent, honest and fair. Many of them decide to abuse their positions for personal or party’s gains.
From here on, citizens are trapped by debts and are in the hands of too many corrupt or greedy politicians. One day, they decide to borrow, enjoy the goods and then work. Another day comes when the cycle is broken, the work ends and no one can pay anyone (except officials and wealthy people), starting with the administration as happened in Spain.
That is happening in the EU because of European politicians who were wrong when they introduced euro as single currency for all member states, without first establishing the necessary harmonisation and economic regulation and taxation for everybody.
In conclusion of these simple and basic reflections, I think that citizens have two options: they can go back to ‘conservative economy’ or they can call for politicians who are competent and honest and pursue the common good. The moral conscience (public and private) is the first aspect that should prevail in human relations and in that, those who rule us must follow the same. It will happen when greed and avarice will drop out of fashion.
Roberto Grao
Published in The Express Tribune, December 17th, 2018.
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