The world’s most elite conference this year will discuss something called “the precariat” (Refugees from the crony economy get a name)


See, everyone likes to “worry” about the increasingly languishing middle class, but the answer to the problem is to directly challenge the powerful crony superstructure of politicians, economists, crony business people, crony interest group people, and various other hangers on who run the Show. And I am not talking about providing more jobs programs or college aid or some other economic trinket. The crony class, the political class, is more than happy to provide such “solutions.” In the grand scheme of things such programs cost them little. Their wealth isn’t challenged and if anything, as the perceived benevolent overseers the power of the crony class is only increased. They want to be able to buy off the rabble with more government. Why? Because they run the government.

This assessment is not held by many in the “social justice” movement. To them it seems government is the only solution to their ills. Free markets? Only rich people want free markets.

Hardly. Free markets in many ways are not in the interests of the rich and powerful. Government insulates the rich and powerful.

A real challenge to the power structure would involve liberalizing the economy. Rip away the red tape and throw the rent seekers out of the economic temple. Make the economy freer. Allow more entrepreneurship. Make it easier to start a business. Let people keep the money they earn so that they can build wealth. That’s how you undermine a rigged system.

And that is what the cronies don’t want the world to figure out.

(From Bloomberg)

This year’s agenda includes predictable topics like “China,” “migration,” and “cyber security.” But one talking point is particularly intriguing, addressing the “precariat and middle class.”

The what? The “precariat” is a term popularized by British economist Guy Standing, describing a growing class of people who feel insecure in their jobs, communities, and life in general. They are…

…the perpetual part-timers, the minimum-wagers, the temporary foreign workers, the grey-market domestics paid in cash… the techno-impoverished whose piecemeal work has no office and no end, the seniors who struggle with dwindling benefits, the indigenous people who are kept outside, the single mothers without support, the cash labourers who have no savings, the generation for whom a pension and a retirement is neither available nor desired.

Click here for the article.