Cheating Economics

The dramatic news from financial world are pushing me to make some reflections on the enormous distance between real economics and speculation economics. It is important to emphasize that beyond this catastrophe there are managers and politicians who are getting richer damaging thousands of citizens and firms with the well-known strategy “privatize gains, publicize losses”. Someone is still looking at these individuals with envy and admiration because they can exhibit huge richness being super paid by their organizations for their capability in inventing so complicated financial products or in distributing speculative bubbles and giant debts in funds sold to citizens. In this moment economic world seems to be divided into two opposing and incompatible slices as never: on the one side the management speculating on goods (without having any property) nourishing an irresponsible power and on the other side the real economy world made of real jobs and productivity. The problem we have today is in understanding the past and present role of politics in this scenario and the reason why adequate rules have not been applied, the excessive freedom has been concede to finance to act with impunity in a no-rule context called “liberism” or the real contents of the muddy relations between banks, finance and politics. These unclear links permitted to make certain speculators respectable individuals who became rich (and they are still gaining from all this) just cheating people, being clearly aware to cheat, and speculating with the money of common people. Paradoxically, this crisis within the financial world will turn necessary to awake people about the criminal irresponsibility of our politicians: without this awareness the economy of speculation won’t be stopped because managers and politicians are never called to pay the final bill.
I have always supported real economy, above all at local level, made of entrepreneurs and workers always honestly committed in their activities: for this reason I always repeat that these financial markets without rules can produce only crises and speculations without generating any kind of real development because they pursue delirious and hallucinating models based on illusions. This is a parody of development: just remember that the main theorem of finance is “make only your own interest and business”. The possibilities to correct this situation are not linked to technical reforms, but rather to a completely different way in considering and understanding the reality around us, giving a real sense to citizens’ participation and making financial markets an effective service. A great public commitment is thus necessary also to cope with the present asphyxia in our politicians and an ethic regeneration: if money will remain the central bias in political life, the strongest interests are always able to pay politicians to direct politics to their scopes. We do not need political commitments anymore, but rather democratic efforts also to denounce the qualities the economy of speculation lacks: good sense, creativity and ethics.