The Real Deal: Henry C K Liu

There is nothing like a straight shot of classical economics to keep your attitude up, and Henry C K Liu is a mighty fine distiller of that spirit:

By making the rules of development treat capital as more scarce compared with labor and thus the more valuable factor of production, owners of capital are logically justified in receiving a larger share of the benefits from development.

. . . The only problem with this perverted cost-benefit approach to welfare economics is that it is not true. Optimum development requires capital and labor to be assigned fair and equitable value so that supply and demand can be balanced and for all human lives to be treated with equality . . .

All the economies of the world are competing in global markets by pushing their domestic wages and worker benefits down in search of globalized “growth”. The global market has turned into an arena for universal voluntary slavery to serve global capital.

In Liu’s work, we find delightful reminders why justice is, as Socrates said, expedient — and why Americans have no business blaming Mexicans for turning North America into a grazing ground of human sheep.–gm