This Weeks Must Read is ‘Remember, Remember The 3rd Of September’
Sep 8th, 2008 by Donagh
Michael Taft published a brilliant essay exclusively for Indymedia this weekend, and it’s really worth reading – twice.
It covers much of what Michael has been saying in his recession diaries and on his blog. But it brings it all together in a marvelous synthesis, taking in the current panicked reaction of Fianna Fail – who must be seen to do something, anything! - to saying the Left is not taking up the opportunity to suggest an alternative; to providing a succinct economic history of Ireland up to the present situation, emphasizing that contrary to the story we hear repeatedly about how the Celtic Tiger was generated by cutting tax that instead it was based on the actions of a state agency, the IDA, getting out and being smart about who it wanted to attract to Ireland; to the over reliance on foreign direct investment and property; to, finally, suggesting ways of rectifying the situation so that the economy can recover, but that it does so in an egalitarian and sustainable way.
As Michael concludes:
In this way the Left can start to tell a new story – one not predicated on the addiction to foreign capital or property or the equities market. It can begin to encompass a slow socialisation process of our economic assets, increasing taxation in order to invest into economic and social infrastructure, distributing wealth to share the wealth that everyone has participated in generating.
However, to reach that conclusion you have to read the whole thing.