“All this has happened before and it will happen again” – This is one of the famous quotes from Battlestar Galactica (2004-2009) which finished its run just as the last major financial crisis was beginning to bite, a crash that has been described as the most serious crisis since the “Great Depression” of the 1930’s. We now find ourselves at an even bigger crisis, not only do we have a major health crisis but also lurking around the corner is yet another financial crisis which I fear will be bigger than “The Great Depression”, this financial crisis has been brought about in part by consecutive governments “kicking the can further down the road”, however this is no longer possible.
We missed a trick in the previous crash, we had an opportunity to overhaul the financial system and hold those responsible to task, such as what happened in Iceland, it now appears we have another opportunity. This will not come easy as it involves having discussions on topics that don’t generally get discussed such as the meaning and nature of work – it’s amazing to think that jobs we now consider to be ‘Keyworker’ roles are also generally the lowest paid, whilst others are ‘furloughed’ on immense salaries…only in a truly broken society is this possible.
Within our current Capitalist/Consumerist society we praise companies and individuals who can extract as much profit as possible and then give payouts to a small number of shareholders further increasing the disparity that is already apparent, however we need to find a more sustainable way to operate. One such way would be to introduce some form of Universal Basic Income (or Negative Income Tax), either way we need to make sure that we have an appropriate safety net for all of society that is fit for purpose in the 21st Century….”So say we all!”
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