2025-05-20

Homoploutia : Between Political Thought and Economic Thought

 


By Dr. Salam Al Rabadi


The Russian International Affairs Council (RIAC)  

https://russiancouncil.ru/en/blogs/salam_alrabadi-en/homoploutia-between-political-philosophy-and-economic-thought/

          

In principle, the broad concept of work is not limited to the job, but rather goes beyond it to deepen the connection to the concept of sustainable work based on expanding job opportunities policies and preserving workers’ rights and welfare. This is in order to have the ability to face the challenges associated with the dialectic of the gap between capital and workers, as doubts are increasing regarding the possibility of achieving equality and social justice.

 

     Where global political, economic and technological changes raise many question marks about the problematic relationship between the world of work, sustainable development and capital. For example, the reality of the agricultural economy is dependent on investments in vast lands and technological innovations that are controlled by transnational corporations, that is, it is the process of gradual abolition of the agricultural production system, whereby the farmer loses his social, cultural and economic identity as a producer and as a worker, to turn into a mere consumer. This fact begs the following question:

Will the development of the economy and technology lead to the realization of the societal sustainable development?

 

     It seems clear that it is no longer acceptable to deal with the reality of the labor market crises from the standpoint of rejection based on ideological considerations only, without having a practical vision. Where, nowadays  it is clear that what most worries the market forces is their having to define their position on a socially sustainable global project.

 

     In this context, there are labor and social movements that have an impact and work to confront the domination of the capitalist system and create a state of relative independence from the forces of capital. For example, the ongoing negotiations within the World Trade Organization (WTO) regarding granting workers of developing countries greater freedom of movement in the markets of developed countries can be considered a positive step in terms of:

·        Consolidate workers’ rights and increase their earnings.

·        Rebalance between capital and the world of work.

 

     Although no strategic alternative has been crystallized up to this moment that can compete with the pattern political and economic capitalist style, but we can say that the margin of movement available to society is always much wider than that available to the economy. The economic influence in the formation and adaptation of society is logical and highly effective, but it certainly cannot determine it.

     Thus, societies can be rebuilt according to a sustainable political and economic vision that, at a minimum, is capable of answering questions revolving around the dialectic of : Why are there so many ideas about how to distribute income and not about how to achieve it?

 

     In this context, even if we decided to bypass the dialectic of how to generate income and try to adopt the thesis of income distribution, we cannot ignore the problematic of modern inequality based on:

·        The expansion of the size of private capital and the disproportionate increase in the income of the rich. Where the gap between them and the working class is very deep and there is difficulty in bridging it.   

·        Systemic inequality " Homoploutia". Where we are now noticing the expansion of the segment of wealthy capitalists and high-wage workers (such as CEOs, financial analysts, doctors, athletes, celebrities, people who inherited a lot of assets…etc). This is a new capitalist elite consisting of the richest capitalists and the richest workers (senior employees).

 

     Logically, these gaps are not likely to be easily reduced as a result of developments in artificial intelligence that lead to a reduction in labor and an increase in the accumulated share of capital. If the only solution to these gaps lies in a more equitable distribution of private capital by increasing tax rates or committing to raising the rate of employment of the labor force, but practically there is no tangible movement in this direction, whether in the developed or emerging economy. This fact raises question marks about:

 How is it politically possible to maximize economic and technological opportunities in a sustainable manner that serves the interests of societies, particularly the most disadvantaged and impoverished marginalized groups?

     The basic challenges lie in how to sift the rich and confront the gaps that characterize economies. Here, it is necessary to recognize that poverty will not be eradicated without political reflection. The nature of the economic system is strongly influenced by political strategies capable of radically changing the structure of markets. This can help reduce these gaps and achieve equality, not to mention allowing all classes to benefit from sustainable economic growth.

 

      In light of the above, it is clear that it is extremely dangerous for economists and technocrats to treat sustainable development issues as if they are unrelated to political ideas and the philosophy of governance, and as if they are merely exercises in Applied economics and Econometrics. It is time to change this logic and move towards combining and linking political philosophy with economic and financial thought. It is in order for countries to become more productive in terms of the quality of human sustainable societies rather than the development of things, numbers and data.

     In sum, based on the principle of critical interaction with economic liberalism and technological development, we must address the fundamental political dilemma, based on the following question:

How can the actual existence of poverty and inequality be combated instead of hiding behind dry financial data and statistics pointing to the alleged benefits of economic growth and technological development?


For communication and cooperation

يمكن التواصل والتعاون مع الباحث والمؤلف سلام الربضي عبر الايميل
jordani_alrabadi@hotmail.com