from Encirclement:

  1. Does it makes sense to say
    that GM, for example, is efficient
  2. because it made $23- or 24-billion
    net profit in the last decade,
  3. when it created 300,000 unemployed!
  4. Does that make sense?
  5. We say GM is efficient,
    but what is this efficiency?

  1. We say the American economy
    is more efficient.
  2. It is, in financial indicators,
    yield over capital investment, etc.
  3. But the U.S. has never had so many
    people living under the poverty line,
  4. the American poverty line,
  5. or so many people
    without access to health care –
  6. 40% of the American population has
    practically no access to health care.
  7. The U.S. has never had
    such a low level of education.
  8. 50% of Americans
    can’t locate England on a map.
  9. Today, this is aberrant,
  10. when there are at least
    50 TV channels per household.
  11. There’s a picture of what
    I’m calling lack of meaning.
  12. Materially, economically,
    financially, we’re more efficient.
  13. But ecologically, socially,
    politically, humanly,
  14. we are steadily losing
    our values and quality of life.
  15. Senselessness.
  16. To discuss this, we must eschew
    the dominant economic discourse.
  17. To start to make sense of this,
    the problem must be reformulated …
  18. from scratch. To do this,
    we must go back to Aristotle.
  19. He said, “Do not confuse
    the economic –
  20. oikos nomia, the norms
    of running home and community,
  21. with chrematistic, krema atos,
    the accumulation of money.”