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Most certainly, anyone grounded in the evolution theory is likely to have registered Charles Darwin in their long term memory. For Charles Darwin, the Cambridge University graduate and Naturalist is rightly considered the father of evolution. As a matter of fact, this theory has always been monogamously married to the discipline of biology but admittedly this academic union didn’t preclude extrapolation to other areas of academia, including Adam Smith’s economics.
Darwinian natural selection
But before examination of economics under the telescopic lenses of Darwinism, imperative it is to first appraise its underpinning in the natural sciences. For natural sciences Darwinism hypothesises that organisms evolved by the process of natural selection of inherited variations that provides an existential advantage. And this aforementioned natural selection is that invisible force that propels the evolutionary process, leading to the organisms adapting to environmental changes through the acquisition of adaptive traits for competing, surviving and reproducing. And it is these adaptive traits that are inherited by offsprings which over time are disseminated throughout their population hence equipping said organisms with survival advantages.
But natural selection albeit being theoretical, is very much practical as epitomised in the dinosaurs’ demise. For it is hypothesise that some 66 million years a colliding asteroid precipitated in meteorological cataclysms. And these cataclysms resulted in catastrophic famines for which the fitter and smaller animals survived at the expense of the mammoth dinosaurs.
But then again, natural selection can be closer to home as was evident by Meghan, Duchess of Wales testimony of a miscarriage. And traumatic they are, but of minor consolation is the knowledge that the vast majority are driven by natural selection and not a consequence of maternal pathological biology. The fact is, nature forever endeavours perfection to provide offspring a competing chance in a demanding world. But if nature determines that the conceptus is not to its exacting standards then certainly and painfully it will be miscarried.
The economy as a living being
Certainly, the economy is not precluded from natural selection on account of being a living, breathing and pulsed entity where monies, generated through taxation, serve as its lifeblood. But not dissimilar to higher-rank animals, this lifeblood must be circulatory which mandates a cardiac pump vis-a-vis, Finance Ministry. And it is this monetary circulatory system that sustains economic life as such that if the economy encounters a monetary haemorrhagic diathesis then the Finance Ministry summons economic doctors to investigate the haemorrhagic malady. But fortunately, on most occasions the diagnoses point to an uncomplicated lacerated industry, for which economic suturing accompanied by infusions of monetary blood, may suffice. But if the monetary haemorrhages are of large volumes and recurrent, despite innumerable suturing and infusions of monetary blood, then the Finance Ministry has difficult decisions to make. For aware they are that frequent infusions of monetary blood into the chronically ailing industry for an inordinate period will surely stress other industries. And the inevitable result is that with time, the stressed industries will themselves be ailing, eventuating in an economy with multiple ailing industries. And without decisive and prudent actions, this ailment will metastasise leading to economic death visiting other industries with these strangulating deaths consequentially suffocating the larger economy. And it is this rationale which underpins economists’ argument against risking the economy in attempting to rescue a nonviable industry; rather they would recommend natural selection takes its course.
Natural selection in the economy
Globally, many industries are facing their demise as a consequence of Covid-19 but certainly uncompetitive they were for failing to adapt. Failing to adapt despite the markets leaning to online shopping. Failing to adapt despite the markets transitioned from CDs/DVDs. Failing to adapt despite the markets preference for live-streaming. Failing to adapt despite the markets favoured social-media messaging. The reality is, these industries were tethering on the brink before Covid-19 but precariously they limped on like an injured gazelle, praying that the predators never visit. But visit they did, in the form of Covid-19, with those not among the fittest facing dissolution. Topshop, Debenhams, Burton, Bonmarche, Dorothy Perkins, Edinburgh Woollen Mill Group, Oasi and Warehouse are some of the 200,000 failed businesses in the UK which globally translates to millions with tens of millions unemployed, not dissimilar to the 2007 Global Financial crisis. And also not dissimilar to 2007, Governments are rightfully not intervening in natural selection.
PPP battles natural selection
Natural selection is brutal, unforgiving and unyielding. Indeed natural selection holds true for most facets of life, except in PPP delusional world. For in PPP delusional domain, there are many unreads decked out in expensive suits, chauffeured in royal SUVs. For recently, one such unread lord it over Freedom House, masquerading as a scholarly, but far from scholarly is he. The said PPP-unread boasts of being a Turnaround Specialist and a world-class accountant yet his CV speaks to a below average numbers cruncher. The deluded PPP-unread boasts of rescuing the world’s economy, guiding the hands of Obama and Gordon Brown, during the global economic downturn, yet his CV speaks to one who was a basic tax-checker in America. The very PPP-unread who was an epic failure in the UK and an embarrassingly damp squib in the US, is now trying to be the world-renown magician, Harry Houdini. And with his Houdini magic tricks in a black bag, he now rocks up in Guyana boasting that he can turnaround the Sugar Industry which is long dead consequence of natural selection. And magically, millions the PPP-unread pocketed, to lay divine hands on a rigor-mortis Sugar Industry and in so doing earned himself the title of the world’s first celestial unread. And intoxicated with money in hand and black bag, the witlessly celestial unread facetiously promised to restore life, to the deceased Sugar Industry. And surely puerile they are, for after negligently gambling and losing billions for 23 years, illogically the class celebrated their inexplicable, bizarre Freedom House, backroom poking of numbers, money aborting economics. Now into its 24th bloodsucking year, we helplessly spectate as the PPP-unreads brainlessly gambled another $7B on the expired Sugar Industry but unchanged is the reality that the sugar market has long evolved but failed they did, to adapt said Sugar Industry, during their 23 corrupt years.
Now embarrassingly, in front of the world’s eyes, their status as PPP-unreads was confirmed when they deludingly believed that the dead Sugar Industry can compete in the survival of the fittest, Monosaccharide World Marathon. But certainly, their title of PPP-unreads gained undisputed status when in Sugar For The Poor economics, invested US$747.38 to produced one tonne of sugar then in incomparable jocular economics, attached a sale-price of only US$388.57.
But thankfully we have accepted the demise of the Sugar Industry but difficult it must be for PPP to reconcile the passing of their favoured votes generating machine. But move on PPP must, for the rest of the world has long done their mourning, cremating and grieving. Surely, doing the honourable thing in permitting the Sugar Industry to RIP, is long overdue. For the PPP-unreads are well aware that natural selection has spoken and must be respected before the entire economy is dragged down with this senseless votes honey-trapping foolery. (The views expressed in this article are those of the writer and not necessarily that of this newspaper)