St. Paddy Day Green (Not a new Band), Merry Go Rounds, and Prisoners
— Exchanging Private Interest, Public Risk for a New Future
I am a middle aged tax payer. I have bought a house, raised two daughters into independent adulthood, buried my parents, have (had?) a fairly viable 403b plan for retirement. And my wife and I have worked in the nonprofit sector for over 30 years, apiece. And we have seen multiple economic cycles and federal government responses — all while dutifully paying our taxes and attempting to be good, value add residents of our community.
As we all know, we are in the midst of COVID 19 — here and now — it is evolving and hard to assess. What is obviously not hard to imagine are the potential health risks to vulnerable populations. For example, seniors, the unhoused, the incarcerated — how do we best serve these people, our community members? We are in the midst of addressing this, and health professionals/other experts will hopefully lead the way. And as science methodically (as it must) overcomes these challenges, they will ultimately help us heal, recover. But beyond health impacts, what is also troubling is that going forward, the economic risk for small businesses, local governments, regions and public funding is becoming ever more apparent. So ultimately, as has happened in the past during other national emergencies — the federal government, using taxpayer money will attempt to help the economy.
And then as invariably happens for those of us who have been on the merry go round of life in the US for a period of time know, soon we will be rolling out plans to save banks, large corporations — all with the concern of managing risk, their huge debts (Remember too big to fail? Remember the savings and loan crisis? Heck, remember trickle down economics?)
The reality is that in our quasi capitalist system, we have switched how private risk is inherent in the investment option and socialized it, making it a public commitment to save wealthy Wall Street investors. And yeah, I know if we have a mutual fund based retirement investment vehicle or a relative employed by a large corporation, we all have skin in the game. Note my retirement reference above, I do have my senior citizen skin in the game.
But 70% of our economy is estimated to be based on consumer engagement in the activities of life. Right now, the small business owners, the service workers, the nonprofit employees and so many others — our neighbors — will suffer significantly. Can our government institutions invest in them, cover their risk, believe in them as Americans to add value, create, help rebuild?
Revolutions do start when an oligarchy only extracts value and exploits public resources to hedge their bets. Such CEOs or financial whizkids are not captains of industry — they are cowards of commercial blackmail. And yes, I voted for President Obama and sincerely miss his steady hands on the tiller, but I still cannot forget that no one went to prison for the morass of that financial meltdown.
What is interesting about this moment is that we can see the benefits and costs of connectedness, the costs and benefits of big and small. And with our economy coming to a screeching halt, we now know we can live more lightly, consume less, rely on neighbors and as some of us have kids at home — well — really appreciate what teachers do.
And this is a teaching moment. As many know, the prisoner’s dilemma is a paradox in decision analysis in which two individuals acting in their own self-interests do not produce the optimal outcome. The typical prisoner’s dilemma is set up in such a way that both parties choose to protect themselves at the expense of the other participant. Our current systems have perpetuated that mental paradigm. Clearly, we would all do better if we could consume less, and consume differently — have cleaner air — and invest in a better, more sustainable journey forward.
So déjà vu all over again, most of us are unwilling patrons on a merry go round with the equation of risk and reward, all backwards, quite dizzying and disorienting — and worse than any amusement park ride I have ever been on — and I have helped manage such a facility. So let me off — I am going to vomit.
Potential Solutions going forward? St. Paddy’s Day, my Irish mum’s most favorite holiday, made me think of green. And then, recent news reports and images have been documenting how the reduced economic activity has reduced pollution. So, given the bizarre wiring of a brain and too much remote work, I have been wondering how we can take this moment, not waste a crisis, and leverage challenges into opportunities. Here are some thoughts:
#1) Invest in a Green Economy
People Solutions
Create a web labor board that matches workers to jobs and reward those that switch to a more carbon neutral gig, with a signing bonus, subsidized by the government. We currently have outsourcing platforms that could be modified for this possibility. And we currently have sick people that should not be working, healthy people that are not working. We need to move labor around, and if we could concurrently do that in a way that would invest in and grow a green economy — how amazing would that be? Answer, amazing.
Policy Solutions
Reward sustainable energy, don’t bail out old oil companies and bad ideas.. Reward innovation, new solutions.
Funding Solutions
Again, please do not just hand out money to corporations without expectations. Your parents did not give you an allowance as a kid, without expectations. At least mine did not.
#2) Address Healthcare Access
People Solutions
Obviously, improve access — coverage for all. Build off the ACA, and lead us to universal coverage, focus on prevention. We are wasting so much money in emergency rooms, even in the best of times, and who knows now.
Policy Solutions
Reward health, prevention. Some for profit are companies doing it as it reduces absenteeism, improves productivity. Replicate their efforts.
Funding Solutions
Invest in nonprofits that do the prevention, outreach work in communities. Support them in linking the most vulnerable to resources, and do it respectfully, contracting appropriately, paying fairly.
#3) Support Local Economy, Self Sufficiency
People Solutions
Invest in human capital, offering vehicles for life long learning.
Policy Solutions
Create tax incentives for commerce through locally owned, and/or cooperatively owned entities.
Funding Solutions
Invest in fablabs, innovation and acceleration centers that are committed to inclusiveness and reaching out to nontraditional, potential business leaders.
Next steps? Flip the switch on this merry go round, don’t go backwards, don’t make us even more sick. Fast forward to a green blur of activity, the joyousness of good health, and let us look at our neighbors and at least exchange a smile, and hopefully even more.
