New economics run on old ideas

Emmanuel Macron’s victory in the French presidential election intensifies and pushes the EU problem further down the road.

The EU is in self-destructive mode; pumping trillions of euro into trying to keep old economic ideas of always producing more with continual ‘growth’ despite overproduction already being out of control, while expecting ‘work’ to generate sufficient employment despite the ravages of automation.

Old economics serve one purpose only – to concentrate wealth into fewer hands while abandoning ever-increasing numbers who lose business and security of employment into dependency and despair outside the economic loop.

New technological economics require new thinking capable of restraining gross overproduction; of managing sufficiency, which has replaced growth; and of generating sufficient employment from less work, realising employment as primarily a method of distributing wealth rather than a historical imperative in the creation of wealth.

A Marine Le Pen victory would have forced these matters to the fore, forcing us to face the inevitable.

Now we must endure further years of illusory growth and recovery, bringing us closer to the abyss while revolution ferments among those abandoned by policies of trying to run new economics with old ideas.

It’s like trying to navigate a nuclear aircraft carrier using a manual from the Spanish Main. Padraic Neary Tubbercurry, Co Sligo