The Right Way To Deal With Debt

I'll confess right now, I have an appallingly limited understanding of economics and the current global crisis, which is why I'm going to resort to oversimplifications and generalizations in this post. You have been warned!

It seems to me that both left and right-wing political administrations have their own ways of dealing with a country's debt, each employing methods to directly and indirectly reduce debt levels.

Left: Tax increases (to directly pay back and reduce debt) and increased government spending (to stimulate economic growth and indirectly reduce debt).

Right: Tax cuts (to stimulate spending and economic growth and, as such, indirectly reduce debt) and reduced government spending (to directly prevent debt from increasing).

Now, from what I understand concerning the matter, it appears that the right-wing approach is actually more effective. The reduction in services (caused by reduced government spending) is negated by a growth of similar services provided by the private sector (which can afford to do so on account of the tax cuts). While the left-wing approach creates jobs through increased government spending, the increased taxes stifle spending and growth in the private sector, ultimately crippling economic growth and preventing the government from repaying the new debt incurred from its spending.

New World Order?

The more I look at the world, the more I come to believe that there is something fundamentally flawed in our current world order. Call it capitalism, call it what you wish, a serious upheaval of the very way we think and the assumptions about the world that we take for granted, needs to take place.

And it won't require a little thinking outside of the box either. To generate an upheaval of such magnitude we will need to step so far out of the proverbial box that we will have practically left the building. In fact, I wouldn't be surprised if such a revolutionary idea literally came to someone in their dreams.

Where to begin though?

What makes a Looter?

I'm sure those of you reading this post have heard about the riots taking place in London and in other cities in the UK. Supposedly, the riots have their roots in what is believed to be the wrongful shooting of Mark Duggan. The whole truth concerning this matter has yet to be revealed, but what has become evident is that the riots taking place at the moment have nothing to do with the shooting anymore. Even Duggan's friends and family have spoken out against the rioters.

Which begs the question, "Why are these riots taking place?" I'm sure there are a number of staple answers to this, such as frustration towards unemployment and the general economic situation, but when we remember that the majority of the rioters are minors, the lack of jobs doesn't seem to be the likely cause of their outbursts.

This, quite frighteningly, appears to leave sheer criminality as the most likely cause of the riots. If this is the case, it would mean that the rioters have been exposed to an appalling lack of social and family values. Some have pointed fingers at the welfare system, claiming the rioters are the children of those who abuse the system. In my view however, thing's aren't so cut and dried. Granted, children of people who live off welfare have an increased chance of following in their parents' footsteps and living off the system, but would such an environment result directly in a generation of violent criminals? It could also be said that people who abuse the welfare system make for poor parents, and as such make no attempt to prevent their children from entering a life of crime. However, once again, could simple neglect breed individuals capable of so boldly committing the crimes we have seen take place?

First Post

Hello all.

I hope this is the beginning of what will become a long and enriching journey for anyone who chooses to join me and embark upon it. All too often these days, I hear people complaining about all the misery and hardship they see and read about on the news. I like to think of myself as an optimist, but I'd be blind not to acknowledge the validity of these complaints.

However, when I watch the news, I'm not overcome by a sensation of fear or sadness. Rather, I feel curious about the causes of events, even frustrated about my powerlessness to do anything about them.

I reach out to anyone who feels the same way. Simply put, by discussing the world around us, we can expand our understanding of it and perhaps even find solutions to its problems. Is this naive of me? Maybe, but I am still confident that among our small steps we'll find a giant leap.