New politics - dead economics

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This article really gets to the nitty gritty of what it means to oppose the Coalition, or rather, to articulate a different view of society where solidarity and social equality replace the domination of finance and corporate power. As the writer says, just advocating a return to growth is not offering a better alternative.

The Irish bank crisis has worsened - the bailout is so large that every Irish citizen faces a debt burden of E35,000! Britain and Europe has supported a bailout because they fear contagion from an Irish bank collapse. UK banks are heavily involved in the Irish finance sector. Regardless, an E80 billion bailout for Irish banks is the economics of the madhouse. They are burning down the house so a bunch of greedy bankers can collect on an insurance policy they did not even take out. I just cannot see how this can be made to work. It would be better for us all if there was a run on the banks. In the short term it hurts the shareholders and creditors (let's all weep) and all those affected by this, but longer term society could have a new start - as long as the same old political ideology of corporate cannibalism is thrown in the dustbin.