Wednesday, 3 April 2013

Elections: We ask for trust but we need a lot more than trust

Elections: We ask for trust but we need a lot more than trust

There was a time when people used to believe that they could trust the Conservative Party to run the economy and trust the Labour Party to keep the NHS and British politics was based on myths and legends rather than facts but nobody can change the fact that shoemaker makes shoes.

The political life has been distorted and the economy of this country has been distorted and we are paying a very high price for distortions. The farmer knows about farming. The butcher knows about meat. The specialized photographer knows about photography. The teachers know about teaching. The banks know about banking. The gas company knows about gas and the telephone company knows about telephony. We could go on and on making a list of activities and of those involved in the said activities.

The real economy has been replaced by monopolies that do everything, but know very little about what they are doing and as a direct result of this madness we lose jobs, we lose expertise and we end up paying much higher prices and buying things that we don’t really need.

Every year, many thousands of students are being asked to choose what they want to do with a view to go to University because they want to have a career perhaps in economics, perhaps in medicine, et cetera, et cetera. Here comes one of the most visible examples of distortion that is affecting millions of lives.

When you want to have surgery, you expect to find a competent surgeon to carry out a surgical procedure. Following the same logic, I expect to have a competent economist to deal with economic policy. The paradox is that many thousands of students that become specialists end up working in fields that have nothing to do with their areas of specialization. A history teacher might be a very good history teacher but not a very good Chancellor of the Exchequer. The world of Politics is very often irrational and because of this irrationality millions of lives are ruined.

Let’s go back to the principle that says that shoemaker makes shoes. Let’s put an end to monopolies based on pricing strategies rather than knowledge and expertise. Let’s bring back specialization and consistency to have a sound economy that produces real permanent jobs.

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