Wednesday, September 28, 2011

Why Dick Smith Should Stick to Electronics: Dickhead Economics

In a populist outburst bemoaning the Cole’s CE pay for the year – as if that particular salary could materially affect the course of the Australian economy - vastly successful entrepreneur Dick Smith provided further evidence of a commonly observed phenomena:

Often it seems, businessmen who have an intense and sometimes unique knowledge of the micro workings of a given market and how to profit from that, frequently have quaint ideas about the wider forces at work. 

Smith told Morning Report that “capitalism has to have growth” and this is not possible because the world is “finite”. Apparently, the Murdoch empire (the guys currently flattened through a misjudgement in the micro markets they know so well) is obsessed with growth and they control 70% of Australia’s newspapers. And? Anyway…..

All this is “of course” linked to the poverty of farmers and “all those people on the dole” (that’s the guys in the hoodies with the cheap MP3 players, batteries and electronic goodies helpfully provided by Mr Wonder who “knows” that this “extreme capitalism” is wrong). Apparently “all extremes are wrong”. A bit of minor ex cathedra from the electronics king.

These are strange meanderings of logic. They come from the now thankfully out of fashion fantasy that “capitalism” like “socialism” is some kind of human selected “way of life” to be lifted down from the shelf in some sort of philisophico-political supermarket specialising in such wares, placed in the trolley and trundled to the cashier.

Presumably “extreme capitalism” is the jumbo size while the people of the USSR all went for the XOS version of socialism.

Nice to know know Dick is sticking with the family size capitalist pack that comes with a modest CEO salary, suitably wealthy farmers (who apparently make the world’s best food – it’s just that globalisation “doesn’t work the way its supposed to”, and no unemployment.

Why am I paying taxes so RNZ can parade this utter drivel? And why does Simon Mercer – once the fearless champion of “Fair Go” let him away with it?


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