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UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of ten of America's presidencies and who has edited alternative journals since 1964. The Review, which has been on the web since 1995, is now published from Freeport, Maine. We get over 5 million article visits a year. See prorev.com for full contents of our site

December 26, 2009

HOSPITAL CLEANERS FOUND WORTH MORE TO SOCIETY THAN BANKERS

BBC - Hospital cleaners are worth more to society than bankers, a study suggests.

The research, carried out by think tank the New Economics Foundation, says hospital cleaners create L10 of value for every L1 they are paid.

It claims bankers are a drain on the country because of the damage they caused to the global economy.

They reportedly destroy L7 of value for every L1 they earn. Meanwhile, senior advertising executives are said to "create stress".

The study says they are responsible for campaigns which create dissatisfaction and misery, and encourage over-consumption.

Waste workers promote recycling, researchers note

And tax accountants damage the country by devising schemes to cut the amount of money available to the government, the research suggests.

By contrast, child minders and waste recyclers are also doing jobs that create net wealth to the country. . .

Eilis Lawlor, spokeswoman for the New Economics Foundation, said: "Pay levels often don't reflect the true value that is being created. As a society, we need a pay structure which rewards those jobs that create most societal benefit rather than those that generate profits at the expense of society and the environment".

Tax accountants are said to destroy L47 in value for every L1 generated

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2 Comments:

Anonymous Anonymous said...

The bankers ought to clean out bed pans to make themselves useful, and see what they left the rest of us in.

December 26, 2009 5:07 AM  
Anonymous Anonymous said...

When asked why he robbed banks, Slick Willy Sutton replied "because that's where the money is." So it is with bankers. They are not interested in banking for its intellectual stimulation or its value to society, They know lots of money flows in the banking system and by clever artifice, perhaps they can snag some for themselves and their cohorts. It's up to the rest of us, including waste collectors and hospital cleaning staff et al to create the wealth that the bankers wash around in. That is the important point to remember: bankers create no wealth. They "manage" it. They even have admitted this in the past, saying that although they create no wealth directly, they indirectly make its creation possible by selectively underwriting large costly projects with the money entrusted to them. Well now, we are currenty seeing the truth, which is that their prior apologetics is just a cover story for looting. In fact, this observation is a synopsis of our current societal problem: persons in so-called leadership positions, including bankers, are using these positions to enrich themselves at others' expense and attempting to cover their tracks with a combination of arcane language and and outrageous chutzpah. They have gotten away with this because we, the people, have the quaint notion that our leaders are true leaders and selfless rather than selfish. But selflessness requires character and vision, and for the most part bankers have neither. They are simply addicted to money.

December 26, 2009 9:13 AM  

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