Posted 5 years ago on May 18, 2016, 10:17 a.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
Long ago communities of humans hunted and gathered successfully for a quarter of a million years or more. Individual private property consisted of hearth, perhaps individual family shelters, clothing, tools, weapons and other personal property. The land and resources were held in common. The transition by some to pastoral economies changed the fundamental notions of private property little if any.
When settled agrarian communities invented civilization starting ten thousand years or so in our past, it was deemed better to hold less in common and more private property, especially land and resources. The last commons communities, even agricultural ones, didn't fall into the hands of ruling elites until the feudal lords grabbed the Northern European People's land and freeheld common resources about a 1000 years ago.
We've been mostly very religious people for a very long time. Ruling elites have ordinarily claimed the moral high ground based on theological precepts. The theoclassical approach of post modern economists and the dogma of capitalism are no exception to the story of the past ten thousand years. Neither is the growing concentration of property [land, resources, wealth and money] with a shrinking percentage of the population. But billionaire acquisitions and CEO extortions are called growth of GDP in the grotesque theoeconomics of Ayn Rand and Milton Friedman. The narcissism and megalomania of Donald Trump are typical examples of the lowest common denominator of morality and scruples that libertarian influence has wrought.
Bill Black, the author of "The Best Way to Rob a Bank is to Own One" and an associate professor of economics and law at the University of Missouri-Kansas City, takes issue with the theoeconomists, like Mankiw and his ten principles, that dominate what is called thought today:
"... Economists are unique among scientists in the frequency, severity, and persistence of their errors...." http://www.nakedcapitalism.com/2016/05/bill-black-greg-mankiws-unprincipled-economics-indoctrination.html can be also seen at: http://neweconomicperspectives.org/