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Economics:  Political Propaganda, Misleading Information, or a Mixture of Both?


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Economics:  Political Propaganda, Misleading Information, or a Mixture of Both?

The so-called 'fight against inflation' is apparently an economic deception designed to exploit the working population further. Just how one-sided this is can be judged by the fight supposedly being against 'wage inflation'. Left out of consideration are excessive price increases, profits, dividends or capital gains. Also more or less ignored is the large top-level remuneration which has been increasing yearly for some years at up to four or five times the rate of inflation, increasing each year by amounts many times exceeding the average income of the working population.

In the USA, 'Citizens for Tax Justice', at one point published a revealing article 'The total cost of the wealthy's tax cuts explains the entire increase in the federal budget deficit!'

Another example is that the UKs Conservative government began to withhold from pensioners their share of the increasing national income and wealth, for no apparent good reason, amounting to something like 2 percent of their pension every year. Pensions had been linked to the index of average earnings but in 1980 they were linked to the cost-of-living index. As a result their present pensions are a fraction of what they ought to be, have now to be increased by over 34 percent just to reach the level at which they should be now. And pensioners still have to be compensated for the moneys withheld from them without good reason by the government since 1980.

What is called 'Economics' is used to misinform and mislead the general public, and so we need to take a close look at what is being taught and consider closely the role and vested interests of experts, and at the extent to which 'He who pays the piper calls the tune'.

Owners and employers may try to pressurise the working population into accepting lower rates of pay by increasing the working population's needs, doing so by advocating or condoning greater unemployment, less social security, fewer national health service provisions, weakening the quality of education (knowledge, clear thinking, understanding, objective evaluation).

And so profits are apparently being maximised regardless of the cost to others, to the community. Without care or concern for the condition, standard of living or quality of life of the working population. Without being concerned about the in sum-total enormous human suffering which results.

People assume that an expert who talks convincingly and seems sure of himself knows what he is talking about, an additional factor being that he is likely to use long important-sounding words with an air of conviction and certainty. This applies particularly in the areas of economics, psychology, sociology, philosophy and politics.

Employers are likely to pay close attention to what their employees say in public and particularly so when the occasion is in the public eye, is likely to be opinion-forming. Employees are aware of this, are likely to see such occasions as potentially career-advancing, are likely to be saying what employers would wish to hear. And so employers have a strong influence on what their employees say in public and employees are likely to be advocating viewpoints which are employer-serving instead of being people-serving and community-serving.

Bias is increased further because employers are likely to promote, and to put forward for making public statements, those who agree with the employers' point of view.

And bias can be increased even further when media present mainly one point of view, say that of employers, or of a particular political party, or of advertisers.

Consider this. Would it not be a good idea for each member of a government, each elected representative, to state in public what they personally are likely to gain, or lose, from the way they are voting on a particular legislation, or from the policies they are advocating?

I feel that lists of such gains and losses would make interesting reading. For example about the changes by a conservative government to UKs 'local government' taxation, from 'Council rate' (depending on property value) to Poll Tax (depending on number of resident people, on size of family) to Council Tax (Poll Tax amended because of public protest).


See report
Corrupted Economics and Misleading Experts
from which this theme's information was extracted.

For a meaningful and objective economics, management and government science, see
Economics: Index
General Management: Index  (Middle, Senior and Top Level)
Community: Index  (Social Responsibility and Accountability)

Short Description

Title   Description
Corrupted Economics and Misleading Experts   Discussses the relevance and reliability of specific important economic relationships and shows how 'Economics' is used to misinform and mislead the general public. Clearly states underlying considerations and discusses misleading political interpretations and the role of independent experts.

Subjects discussed include the cost of living, the fight against inflation, index linking, unemployment, uses of the base interest rate, share prices, currency exchange rates, the role and vested interests of experts.

Manfred Davidmann

Manfred Davidmann is an internationally well-known and respected scientist and author of a number of books and reports which have had and are having considerable impact. His work usually breaks new ground and opens up new understanding and is written in meaningful and easily understood language. Outstanding is that his work is generally accepted as factual, objective and unbiased.

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