Tuesday, 9 December 2014

I say Jeeves pour me a scotch.

Why would we want it any different and doesn't it acknowledge the fact that markets work ? I'm talking about the phenomena that in Britain we have a slowly recovering economy based largely on ultra low interest rates and a bagful of tax payer money pump priming the banks, not only getting them off the hook of their bad practice, but to theoretically lend the business. 

The politicians proudly declare that unemployment is coming down and is now the lowest in a decade. The problem is that pay, for the majority has flat-lined or decreased since the banking crash of 2007 and the real value of the pay packet today is 7 percent lower in value than 2007. Through the diminution of labour rights and the demonising of the position of Unions in their role of collective bargaining, there is little the ordinary worker can do except look yearningly at the boss the his golden handshake contract, ensuring double digit salary increases and a bonus if he does his job properly 
I know there are some of you feel this moan is purely based on envy and I should enthuse that the movers and shakers are happy in their penthouses so they won't leave us to go off elsewhere for greater gratification but it's not so. Humanity can only work harmoniously if there is a feeling of fairness. Take away the sense of belonging to a society and discontent leads eventually to trouble.
The squeeze on living standards, already depressed by shortages, lack of affordable housing overcrowded schools and a health service having to peel away the services it used to offer is further effected by the rise in prices which not accompanied by an increase in earnings means one simply has to do without.
The economic scenario much loved by the mighty Goldman Sachs sitting in their global deal making boardroom has come true. The unit cost although irritatingly higher than the Chinese model is coming down and in some areas of business where interns are persuaded to work for nothing, just to sit close to god and, hopefully some day be taken on as an employee then the unit cost is nil. Over the last decade since the crisis within the finance industry many structures to protect the workers rights have been demolished and the employer now has a flexibility un-dreamt of since the end of the war (a war, defeating Fascism to secure their rights of democratic involvement) to fit his business plan with virtually no thought to the security of his workforce. Productivity is now the crucial term in deciding the yard stick to measure the workforce by. In many countries this goes hand in hand with an investment in labour enhancing devices so that productivity is a partnership between labour, up to date equipment and the investment needed to ensure it can happen.
Of course in this country investment is a dirty word. If they had invested in affordable housing we wouldn't have a housing shortage if we had invested in machinery we would still have an industrial base, if we had invested in education we wouldn't have had such an illiterate workforce. It all comes down to money you either invest profits in the future or you salt them away in your private bank in the Bahamas. The insulated, privileged, public school educated boards of directors across the land were ill equipped to be sufficiently visionary as their German and Scandinavian cousins were and we are as we are because of it.
The commonly heard and off repeated claim that it was all down to the Unions and a poor work force is held glaringly unworthy when we see the success of Nissan in Sunderland, one of the most efficient work environments in the West, manned by the self same union members (bloody minded northerners no less) but treated properly and trained properly they hold their productive own with anyone.
Their only danger is, once again from the Etonian ranks as members of the backbench Conservative party via with each other to "he haw" the loudest in their desire to exit the EU.
It's a terrible dilemma for them to be told by Johnny Foreigner what they should do or not do in this British plaything of theirs. Their ancestors conquered or stole it and now someone wants to tell them how to run it. "I say Jeeves pour me a scotch".

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