Western capitalism ruining jobs and local productions

'If we wish to understand British economic policy (and so understand why the 1% are getting richer, why debt is increasing and why most jobs coming into existence are temporary, insecure and low-paid) you have to understand the basic doctrines and practices of global finance capitalism,' Rodney Shakespeare said.

Those doctrines and practices uphold only the interests of finance capitalism and never those of ordinary people. Two examples are factory and agricultural production.

Finance capitalism says that if something is made or produced abroad (using dangerous insecticides and with no concern for worker's rights or the environment) then the resulting cheap products (often full of pesticides) are good for the consumer.

Except that the consumer has lost his/her former relatively well-paid job. In the USA over seven million jobs have been exported (and each job, in practice, supports another two or three jobs) and the consequent loss of income is basically why Donald Trump got elected.

And in the UK BREXIT was the result of finance capitalism doctrines saying that cheap (often dangerous) imported goods are better than those produced at home.

In the UK most new jobs (if you can get one) are low-paid and insecure.

There is a huge need for the jobs coming from big capital infrastructure projects (with, remember, each job supporting another two or three jobs). These can easily be financed if the national bank (Bank of England) produces interest-free money (rather than the private banks producing the money at exorbitant rates of interest thereby, in practice, doubling or more the basic capital cost). The interest-free money is repaid and cancelled. Because of the cancellation this cannot be inflationary and halves or more the cost.

Binary economics is badly needed (www.binaryeconomics.net) The national interest-free money supply can be used for big capital infrastructure projects, to help small businesses, for environmental capital projects, for social housing (and, in particular circumstances, for private housing), and, in particular, to spread the ownership of the big corporations.

There is no effective policy to support local production and supply because, if there were to be such a policy, it would contradict present finance capitalism.

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