The Prophet Of Profit?

The Dolphin's Brain By The Dolphin's Brain, 2nd Oct 2013 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>News>Politics

Is 'Profit' all it's cracked up to be? Is the Prime Minister, David Cameron the only party leader who understands business? Is Ed Miliband barking up the wrong tree (a Marxist one, presumably) in wanting to control energy company profits?

There Are Dirtier Words*

David Cameron, the Prime Minister, would like us all to know that his party, the Conservative Party, is the only one that understands the true value of the profit motive. In case it isn’t abundantly clear what he and his party stand for, he would like us all to note this one very important fact – ‘profit’, he says, is not a dirty word.

In so doing, of course, Cameron is merely repeating the right-wing propaganda argument that all the other major parties are against the concept of profit, hate the rich, do not understand business and want to promote ‘downward equality’ using some sort of Marxist theory of wealth redistribution. Is it coincidence that the Daily Mail is promoting the idea that Ed Miliband is a closet Marxist who embraces every nuance of his father’s intellectual anti-capitalist philosophy at the very same time as Cameron and the Tories are attacking Labour for having, allegedly, lurched to the left?

* see this post of mine for an example!

The Fundamental Philosophical Difference

As I pointed out in my recent post, all of the parties currently seek to embrace the business classes. For the Tories, this is their natural home. The Labour Party, however, could be described fairly as slightly later adopters of the ‘hug-an-entrepreneur’ political model.

If we are to take Cameron at his word, that he seeks to infer that Labour is against profit per se, then, of course, he is misrepresenting the position of the Opposition, deliberately or otherwise – I’ll leave you to reach your own conclusions about that.

There is, of course, a fundamental philosophical difference between the two main parties. The Tories believe in profit above everything else. This is why they instinctively react against ‘red tape’ that ‘holds business back’; why they rail against planning restrictions that ‘inhibit economic development’; why they do not like the minimum wage, even though they do not, it seems, intend to get rid of it; why they cry ‘foul’ and seek to undermine the very concept of health and safety legislation; why they abhor the very existence of trade unions.

All of these are seen as interference in the ‘right’ to make a decent profit. Of course, many in the party will tread a cautious path and try to convince the voters that there is merely a need to ‘rebalance’ the way things work. Do not be fooled. This is nothing more than ‘thin-end-of-the-wedge’ politics. Given free rein, the right-wing of the party would deregulate just about everything, because, as we all know, the free-market is the answer to all of the ills of the world.

This stance is, of course, utter nonsense. The Labour Party is not against profit, but against exploitation. It is not against market economics, just against the unfettered ‘free-market’ because it isn’t ‘free’ and it doesn’t work, except for the exploitative über-capitalist. Cameron is selling you a false notion of what Labour stands for. It is the politics of fear. Of course, he isn’t the only politician who takes this approach but, for today, the spotlight is his.

We have the Health and Safety Executive because otherwise, a significant number of employers would ignore the safety of their workforce in order to make more profit. We have trade unions because otherwise many employers would exploit workers by increasing hours, reducing pay and degrading working conditions in order to make more profit. We have planning regulations to prevent developers from arbitrarily building inappropriately in order to maximise profit at the expense of other people and the environment. We have the minimum wage because, prior to it, employers, in this ‘free-market’ exploited the jobless, the vulnerable and the desperate by preventing unionisation by force and intimidation so that pay could be forced down and profit increased. We have ‘red-tape’ and other forms of regulation, in order to safeguard the many from the greed and exploitative behaviour of the few, the powerful.

It is this type of ‘profit’ that the Labour Party is against, the type that puts profit over people. This is why Cameron is running scared and why he mentioned Labour over 25 times in his speech today. He knows that the public will no longer stand for inflated bonuses for bankers or, more pertinently at the moment, further excessive profit making by the energy companies who fatten the pockets of shareholders with dividends at the expense of the ordinary person in the street.

Oh, and by the way, we now know why Cameron and his pals are not interested in pursuing all of these big companies who are not paying their full share of tax. He said it today – these companies scout the world to find places where they can do business as cheaply as possible. If we want them to come here and provide jobs, then we have to keep them sweet, we have to offer them a favourable tax regime. Naturally, he offered no analysis of the costs and benefits of such a policy; presumably we are all just supposed to believe him.

Yeah, right!

© The Dolphin’s Brain 2013


Cameron, Capitalist, Dirty Word, Ed Miliband, Energy Companies, Enery, Health And Safety, Hse, Marx, Marxism, Marxist, Prime Minister, Profit, Red Tape, Regulation, Tax, Trade Unions

Meet the author

author avatar The Dolphin's Brain
I am a mixed bag of lawyer, vegan, environmentalist and sports nut and my writing is likely to be passionate, of-the-moment articles on a wide variety of topics. I also write the occasional poem!

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