Economists, Financiers, and Oilgarchs...Oh My!

What is missing from the philosophy of economics is the fundamental understanding that 1) all resources are finite and 2)  labour is a willing good.  Once these are used as a metric for input costs, neo Keynesian rhetoric falls to the way side.  Neo Keynesianism relies on free labour and thinks of all resources as abundant.  Nothing is further from the truth.

Labour was known as a right by the order of the constitution, and was enforced with the civil rights movement.  This is the reason that Africa is uniting.  This is the reason why China has raised wages; people are taking a stance on an issue that is simple:  labour is one's own, and no one else's.

If resources were absolutely abundant, there would be no concept of property, monie or otherwise.  This would be a literal heaven, and everyone would share and take without removing comfort.  To be specific, there is a set amount of gold, as it only comes from stars.  There is a limited amount of oil, as it takes millions of years for it to accumulate.  Silver only grows on veins of other metals, and platinum too.  There is an ever changing amount of fresh water, but due to population growth, even that has become without excess.   The things that finance revolves around, the goods and capitol, amount to what finances the world.  The world is a set state of affairs.

Without doubt, there is one exception, and that is our ingenuity.  We have proven over and over again to be able to construct new ways of living within these means.  We do this by utilizing what we have.  We create machines, then we use oil for machines, then we use the oil instead of the machines (solar voltaic).  This proves that we are unlimited, but,  as of yet, we have failed to recognize the implications.  Hopefully we have only scratched the surface, but we are running out of time.

If economists would realize all of this, a new world would emerge, and maybe then people would find the ideas that would move us forward in the story of this earth and create new ways that can utilize our resources in a more efficient way.  Until then, the old world will weigh down economics, and the world around it.  If only the oilgarchs could become humbled, and tell the financiers so, then maybe the philosophy of economics would be freed from the chains of Neo Keynesian Smithsonian economics.  Until then, the few that recognize the paradigm for what it is will continue to be the only ones who benefit.