Profit-Making is Different Than Profit-Maximizing by Ulrich Thielemann
Discussions of jobs and the economy are often marked by trivialization, distortion, unreality and wishful-thinking. The neoliberal model promotes profits, not investments and rationalization and digitalization lead to mass unemployment.
Most created jobs are temporary and precarious. People trust in the myths of the self-healing market, efficient financial markets, dishwashers becoming millionaires and pulling yourself up by your bootstraps. System analysis, market failure and state failure are usually glossed over. All personal achievement depends on state investment in roads, schools, hospitals, airwaves, food safety and water quality.
Ulrich Thielemann, formerly a professor of economic ethics at the University of St. Gallen, Switzerland, is now director of a think-tank for economic ethics MeM in Berlin. To read several of his recent articles, visit
more at www.kickitover.org, www.alternativetrademandate.org, www.onthecommons.org, www.therealnews.com and www.storyofstuff.com