A Terrible Blogger is Born! wrote an excellent article about the worship of hierarchies which has dominated economic policy ever since the advent of (post-WW1) modern capitalism, and the subjection of the individual to these hierarchies. It’s quite a long entry, and there’s no way to really encompass it all, so have a look.
Taking our cues from Galbraith and Huxley, we really should see government and business leaders as co-captains of the corporatist ship, which explains why Keynesian economics, with its obsession with “full employment” and insistence on perpetual spending and no consumer saving, makes the most sense for this system. Carson quotes from Jeffrey Kaplan article called “The Gospel of Consumption” that describes how business leaders were upset to discover that the basic needs of consumers could probably be taken care of with “three days work a week”. National Association of Manufacturers President John E. Edgerton set the tone for elite opinion, both governmental and corporate:
“I am for everything that will make work happier but against everything that will further subordinate its importance. The emphasis should be put on work- more work and better work.” “Nothing,” he claimed, “breeds radicalism more than unhappiness unless it is leisure.”
Apparently it never occurred to Edgerton that one of the things which might make work happier is the subordination of its importance. At any rate, more work (if not better work) has always been at the top of the Keynesian agenda. Ever wonder why unemployment per se should really be such a vexing problem? What if we really don’t want to work all that much?