When Martin Shkreli was arrested the internet erupted with a dark sense of joy. Finally, the most hated pharmaceutical and finance guy in America was going to get justice – if not for raising the price of drugs 5,000% but for an unrelated ponzi scam.
This came up during People’s Economics, the discussion groups which represented a kind of “Barataria Live”. Our section on High Finance asserted that the complex and overlarge finance system inherently encourages this kind of bad behavior, which is to say that any regulation or law you might write is irrelevant compared to the kind of damage guys like Shkreli can do before they are caught.
Two interesting thoughts came out of this and subsequent discussions which provide logical ways for us to get past this problem and move to a better future. And there may be more.
What’s the right thing to do to help the economy? Clearly, Congress has no idea, making bizzy with games designed to impress their constituents. Major economists don’t agree, either, with at least three different views on what is going on and the appropriate remedies. How can it be so chaotic and disorganized?
It’s always been Barataria’s creed that if you complain about how things are you have to stick your neck out and offer a better solution. Our answer has always been that there is a totally new economy forming around us as we work through the Managed Depression, and that there is a dire need for public and private leadership to help us create that new world dynamically. That’s a bit too hard to define , but we can offer is a different way of looking at the situation we’re in. It doesn’t directly point to courses of action, but it suggests things that should be tried.
Here is a description of the Triple Threat to the US Economy – Business Cycles, Globalism, and Demographics – and how they are working together to make this a once in a lifetime change.