Just a quick note to start off the day. The title says it all. The wealthy need the poor. In fact, it doesn’t matter who ends up poor, it just matters that many people do. I mean, who can know if someone is wealthy if there are no poor people around to compare them to? No, poor people are essential to the wealthy for many reasons. First, they make a great cautionary tale, as in, “see what can happen to you, my child if you don’t put your nose to the grindstone, work hard, aspire to the things that make us rich and believe in free entreprise, because mygawd it’s our way to glory and eternity.” Of course, in the same vein, they are also a great example of how not to live your life. “Those people have made a poor choice in parents. You’ve at least started life not making that mistake!” They are also a great source of cheap labour and can’t save any money so everything they make goes right back into the hands of business. What a great setup.
Actually, it’s really quite simple. We live in a class society no matter how much we attempt to deny it. Wealth and poverty are a consequence of that, not the cause. So we have rich and poor people as an inevitable consequence of the way our society has evolved. Wealth is a major moral goal so poverty must be a major moral failure. So we merrily blame the poor for their circumstances and for all the ills of the world. We don’t have the good sense to see who and what are really to blame.
Strangely enough, there is no such thing as ‘capitalism’, which is a word that would describe a system of wealth accumulation that can be compared to the evil isms, socialism and communism. Capitalism is an a-historical concept that fails to take history into account. Capital accumulation and the rapid concentration of wealth in finance capital will come to an end. What will come after? I have some sense of that in very broad terms but that’s the subject of another post.