By showing that in capitalism, resources are wasted and an enormous amount of productive capacity is squandered, suppressed or given over to applications not having any direct bearing on peoples' needs and which would therefore not obtain in communism, it may be demonstrated that communism will have plenty of leeway to apply the dictum, ‘from each according to his ability to each according to his need.’
Insofar as so many forms of occupational activities found in present day capitalist society will no longer be required in a communist society and technology will at last be truly unfettered in order to relieve human beings of arduous or unpleasant or unsafe work, it could be argued that in a communist society the average number of hours needed to be spent on work per person would be a tiny fraction of that required in capitalist society. This too reflects upon its feasibility.
(a) Capitalism is wasteful of resources:
A critical difference between industrial and biological processes is the nature of production. Living systems are regulated by such limiting factors as seasons, weather, sun, soil, and temperature, all of which are governed by feedback loops. Feedback in nature is continual. Such elements as carbon, sulphur, and nitrogen are constantly being recycled. If you could trace the history of the carbon, calcium, potassium, phosphorus, and water in your body, you would probably find that you are made up of bits of the
In sum, Americans waste or cause to be wasted nearly 1 million pounds of materials per person per year. This figure includes: 3.5 billion pounds (920 million square yards) of carpet landfilled, 3.3 trillion pounds of carbon in CO2 gas emitted into the atmosphere,19 billion pounds of polystyrene peanuts, 28 billion pounds of food discarded at home, 360 billion pounds of organic and inorganic chemicals used for manufacturing and processing. 710 billion pounds of hazardous waste generated by chemical production, and 3.7 trillion pounds of construction debris. Furthermore, these are merely domestic figures for material flows, and do not account for wastes generated overseas on our behalf.,,,
Total annual wastes in the
People are often spoken of as being a resource—every large business has a “human resources” department—but apparently they are not a valuable one. The
From ‘Natural Capitalism’ by Paul Hawken, Amory Lovins, and L. Hunter Lovins. Chapter 3
Overproduction And Underproduction
But sometimes the commercial and industrial basis is also decidedly unsound. The cycle of prosperity has brought an overextension in many lines, and the necessary adjustments must be more fundamental. Probably the most incisive criticism of our capitalistic system is that production is carried on without proper co-ordination of different lines, so that suddenly society finds that too much of its energy has been devoted to the production of certain things and too little to others. Capitalistic production connotes production in advance of need; it requires much time - and the different industries require different lengths of time - for the delivery of products. Capitalistic production is based on specialization, one group producing one thing which it exchanges for the things produced by other groups. The quantity of any one product that can be absorbed by the community is quite definitely related to the quantities of other goods produced for exchange. Unemployment and overproduction are but ill adjustments of this proportion. The exchange ratio (the price) of goods is the index by which the production of this or that commodity is actually controlled. Society under the capitalistic system relies upon her enterprisers to gauge and forecast these prices and to adjust production so as to maintain a relatively steady and proportioned flow of goods. In a single industrial plant the general manager so apportions the labor, materials, and space as to secure harmonious adjustment of the outputs of the various divisions. If in assembling the final product five pinions are required for every axle, the plant is organized to produce them in that proportion. But society lacks such a general organizer and administrator; each producer is free to produce what he will, in what amounts he thinks best. The result is spasmodic overproduction and underproduction in various lines. A sort of anarchy prevails, and production and consumption are in constant flux and readjustment.
This lack of correlation between supply and demand arises, therefore, from various causes: In the first place, production is made in anticipation of demand, and the interim between production and consumption varies with the commodity and is not always determinable. The demand is also difficult to estimate for it is subject to varying influences and changes often with the caprice of fashion, legislation, politics, and the like. The enterprisers, moreover, are not omniscient. In the second place, even if enterprisers were able to forecast perfectly the demand, they might not be able immediately to readjust their production, for there is a certain immobility in the factors of production; the enterpriser may logically conclude that it is better for him to run at a small loss than to shut down the whole plant; or he may decide to flood the market on purpose to drive his less able competitors to the wall. Finally, one enterpriser has no control over his competitors; he may gauge the demand perfectly, but find when he has his product ready for sale that the market is glutted with competing supplies, whereas in other lines of commodities there is a dearth.
Whatever the causes of periodic or spasmodic overproduction, it is a characteristic phenomenon of the capitalistic system that from time to time certain products can be sold only at a loss. The result is that many commercial and industrial concerns fail and also involve their creditors in ruin.
Food waste contributes to excess consumption of freshwater and fossil fuels which, along with methane and carbon dioxide emissions from decomposing food, impacts global climate change. In a new paper published in the open-access, peer-reviewed journal PLoS One, Kevin Hall and colleagues at the National Institute of Diabetes and Digestive and Kidney Diseases calculate the energy content of nationwide food waste from the difference between the US food supply and the food eaten by the population. The latter was estimated using a validated mathematical model of human metabolism relating body weight to the amount of food eaten.The researchers found that
By 2100, the global human population may reach 9.5 billion with 75% of these people located within urban settlements. Meeting the needs and demands of these people will provide significant challenges to governments and society at large, and the engineering profession in particular.
Four key areas in which population growth and expanding affluence will significantly challenge society are: food, water, urbanisation and energy.
Food: An increase in the number of mouths to feed and changes in dietary habits, including the increased consumption of meat, will double demand for agricultural production by 2050. This will place added pressures on already stretched resources coping with the uncertain impacts of climate change on global food production.
Water: Extra pressure will come not only from increased requirements for food production, which uses 70% of water consumed globally, but also from a growth in demand for drinking water and industrial processing as we strive to satisfy consumer aspirations. Worldwide demand for water is projected to rise 30% by 2030, this in a world of shifting rainfall patterns due to global warming-induced climate changes that are difficult to predict.
Urbanisation: With cities in the developing world expanding at an unprecedented rate, adding another three billion urban inhabitants by 2050, solutions are needed to relieve the pressures of overcrowding, sanitation, waste handling and transportation if we are to provide comfortable, resilient and efficient places for all to live and work.
Energy: Increased food production, water processing and urbanisation, combined with economic growth and expanding affluence, will by mid-century more than double the demand on the sourcing and distribution of energy. This at a time when the sector is already under increasing pressure to reduce greenhouse gas emissions (on average across the globe to 50% of 1990 levels), adapt to uncertain future impacts of a changing climate and ensure security of future supply.
The Institution of Mechanical Engineers recognises the scale of these issues and that there is a need to begin implementing the early phases of routes to sustainable solutions. The long timescales involved in many of the engineering-based projects required to meet these challenges, often measured in decades of construction and implementation, mean that if action is not taken before a crisis point is reached there will be significant human hardship. Failure to act will place billions of people around the world at risk of hunger, thirst and conflict as capacity tries to catch up with demand.
In meeting these needs and demands, the Institution of Mechanical Engineers recommends the following:
1. The adoption by governments of five Engineering Development Goals alongside the UN Millennium Development Goals. In the key areas of food, water, urbanisation and energy, engineers have the knowledge and skills to help meet the challenges that are projected to arise. There is no need to delay action while waiting for the next great technical discovery or a breakthrough in thinking on population control. In this report we present five Engineering Development Goals for priority action and crisis prevention. Governments around the world must adopt these goals and start working with the engineering profession on delivery targets if we are to build on The Millennium Development Goals. The Institution's Five Engineering Developing Goals are:
Energy: Use existing sustainable energy technologies and reduce energy waste. Don't wait for new technologies to be developed
Water: Replenish groundwater sources, improve storage of excess water and increase energy efficiencies of desalination
Food: Reduce food waste and resolve the politics of hunger
Urbanisation: Meet the challenge of slums and defending against sea-level rises
Finance: Empower communities and enable implementation
2. Provide all nations and leaders with engineering expertise. Many governments around the world lack high-quality engineering advice and guidance to make informed decisions for implementation of the Engineering Development Goals (recommendation 1). Many developed nations already provide assistance in areas of medical knowledge and primary/secondary education with great success – the UK does via Department for International Development (DFID). The Institution recommends that the remit of DFID be expanded to train and second civil, mechanical, water, agricultural and electrical engineers to provide other governments with low-cost, practical and up-to-date engineering expertise.
3. Help the developing world to ‘leapfrog’ the resource-hungry dirty phase of industrialisation. The majority of future economic and population growth is projected to occur in the South. However, knowledge of potential sustainable solutions, and experience of the failings from unsustainable dirty industrial activity, are currently concentrated in the North. If economic market forces are left to be the sole or major driver of intervention and action is delayed, then the same errors are likely to be made. Nations in the developed world, such as the UK, must help the developing world to leapfrog the high-emissions resource-hungry phase of early industrialisation to reduce the environmental impact on us all.
Marx was writing in the mid-19th century, and obviously his discussion of unemployment is therefore in part out of date. However, his analysis may have a validity, if considered globally. The ILO reports that the proportions of world unemployment are steadily increasing.Half of all workers in the world - some 1.4 billion working poor - currently live in families that survive on less than US$2 a day per person. They work in the vast informal sector - from farms to fishing, from agriculture to urban alleyways - without benefits, social security or health care. Some 550 million working poor live on US$1 or less per day. Unemployment in terms of actual people out of work is at its highest point ever and continues to rise. In the last ten years, official unemployment has grown by more than 25 % and now stands at nearly 192 million worldwide, or about 6 % of the global workforce. Unemployed and under-employed together total about a billion people. Of these unemployed, the ILO estimates that 86 million, or about half the global total, are young people aged 15 to 24.
Cosmetics in the
Ice cream in
Europe and the United States
Pet foods in Europe and the United States
Business entertainment in Japan
Alcoholic drinks in Europe
Narcotics drugs in the world
Military spending in the world
And compare that to what was estimated as additional costs to achieve universal access to basic social services in all developing countries:
Basic education for all
Water and sanitation for all
Reproductive health for all women
Basic health and nutrition
Just what is needed for the fish in
Miriam O' Reilly explores whether the politics has worked against the advice and measures already taken.
She travels to
Miriam also hears how the limits on quota have actually resulted in thousands of tonnes of cod being caught and thrown back into the sea dead every year. This includes large edible cod as well as young fish which would otherwise mature and breed. In some of the
Scientists say the fleet needs to be reduced further to reduce such shocking waste but fishermen say there are many alternatives, including the consumer becoming more adventurous in their taste. So will the anticipated price increase of a further 20% over the next year move us to be more adventurous or will our love affair with cod remain constant - whatever happens?
Source: Costing the Earth 2010
It is now commonly understood that excessive and wasteful use of energy and materials is the driving force behind global ecological problems and crises. Yet, while it is common to hear the term energy efficiency, it is rare for people talk about materials efficiency, which is the sustainable alternative to endless mining for raw materials.
Many people can point to ways that society has become more energy efficient since the energy crises first appeared in the 1970s. And thankfully people are starting to equate financial and environmental gains with energy savings. But when it comes to materials efficiency (our use of resources like minerals, forest products and plastics) many people are not so clear how it all ties together.
In fact, government, industry and consumer approaches towards production and consumption of materials remain much like the energy strategies of the early 1970s. We are still orientated to maximising supply (and celebrating its growth) while avoiding serious approaches to demand reduction or efficiency in production and product design.
While some gains have been made in recycling, huge opportunities still exist to reduce residential and commercial levels of waste and consumption. This economy is in its infancy. For example, the USA landfilled 7 million tonnes of aluminium between 1990 and 2000. This figure is the equivalent of 316,000 Boeing 737 aeroplanes. Despite this potential, it is important to understand that recycling is really only one (and perhaps the least efficient) of a variety of strategies to increase our overall materials efficiency.
Unfortunately, many of these strategies are currently foiled by a range of problems including tax structures, policy incentives and regulations that favour virgin materials extraction. These hide real costs, result in depressed forest product and mineral prices and fuel unsustainable levels of consumer demand.
Based on calculations of our ‘ecological footprint’ many prominent analysts have concluded that world resource consumption needs to be cut by 50%. The excessive and inequitable rates of consumption in the global north and the inevitable growth in the developing world, mean that northern nations need to shoulder a ‘Factor 10’ or 90% reduction in materials flow to meet the global target.
While these statistics may seem dire and extreme, they do not necessarily lead to the conclusion that we need to revert to a bleak monastic existence in either the developed or developing worlds, shutting down the economy to ‘save the earth’ On the contrary, according to the view of leading resource efficiency thinkers like Amory Lovins and Paul Hawkens, among others, ecological limits do not inherently limit economic activity or the human welfare that should be its primary purpose. Only resource depletion resulting from our current unsustainable path would guarantee this.
Rather, economic activities must be changed to focus on maximising resource productivity rather than drive to maximise resource consumption and use as our measures of economic health. We need to re-orientate our behaviours, regulations and markets to make radical improvements in the value we gain from each unit of resources we use.
This reality presents huge opportunities and challenges. The potential increase in our ability to capture more value per unit of resource (either energy or materials) is a massive untapped economic resource in itself. It is estimated that this value gain could be 4–10 times existing levels, recapturing so much of our squandered wealth, and avoiding costs of waste at the same time.
So, if materials efficiency is such an essential element of a sustainable future, how do we get more clearly on this path?
Some real steps in this direction are being taken in Europe with the European Union’s proposed Scrap Car Directive, requiring 85% (by weight) recycling of automobiles and phased-in discontinuation of cadmium, lead and mercury in auto parts. Additionally, in 2003, the EU passed into law the Declaration on Waste Electronics and Electronic Equipment to mandate similar take-back plans and phase out of hazardous materials like lead and cadmium.
According to John Young of the Materials Efficiency Project in Washington, DC, USA, there are a range of practical measures that can sharply increase materials productivity: recycling and reuse; more eco-efficient design of new products; and the development of much more efficient ways to deliver the services that products now deliver.
Young sets out a modified version of the 3Rs (reduce, re-use, recycle) tuned for a deeper efficiency analysis that seeks to focus on the services we seek rather than the products we consume.
It is estimated that a total of 17.5 billion pieces of junk mail are produced every year. This figure includes both addressed and unaddressed junk mail.
According to Royal Mail, 4.54 billion pieces of addressed junk mail ('direct mail') were pushed through British letterboxes in 2007.
In 2006 a postman called Roger Annies was suspended for telling customers on his round about the best way to opt out of receiving junk mail.
Delivering junk mail is a nice earner for the Royal Mail, and postal bosses objected to staff telling people how they could get around it.
Indeed, one of Royal Mail management's big frustrations was that there was a cap on the amount of unsolicited junk that postmen could deliver.
Well, this could be about to change.
On Monday Royal Mail and the postal union declared peace in a long-running dispute over pay and modernisation that had sparked a series of strikes.
But buried in the 79-page agreement - which still has to be voted on by its members - is a pledge from both sides to lift restrictions on deliveries of what the Royal Mail calls "unaddressed mail".
Source: http://news.bbc.co.uk/1/hi/business/8558079.stm 9.3.2010
‘The core truth there is that, contrary to long-standing dogma, it is capitalists, not commoners, who cannot live without the perpetuation of autos-über-alles in
To understand why this is so, it helps to realize that all capitalists have faced what I call "the problem of products." This is the reality that only certain things make good capitalist wares (a.k.a. "commodities" in Marx's term). Take oxygen, for instance. Because air is a gift of nature that ordinarily requires no labor for delivery, except in hospitals, you can't make profits by selling people bottles of air, despite its extreme value to all of us. Likewise, while you can make profits by hiring wage laborers to manufacture and distribute candles, the candle is extremely simple and inexpensive, so it's bound to remain a minor capitalist commodity.
So, how is an enterprising investor class to reap large, growing, sustained profits, the raison d'etre of capitalist endeavor? What products are really ideal as commodities?
The answer is: products that are as large, complex, and prone to as frequent repair and replacement as possible, within the limits of keeping customers happy enough to keep using and buying. Other things being equal, the bigger the product and the more parts (and "parts" can be either physical materials or human services) the product has, the more opportunities there are for capitalists overseeing the production chain to do what they do to "make" their money -- namely, to pay workers less than the final market value of the products the hired workers make’…
‘Now, those already familiar with Baran and Sweezy's magnum opus (which I personally would rank as the most powerful work of social science in the twentieth century), Monopoly Capital, will know that the triumph of corporate capitalism in the late 1800s quickly produced a quantum leap in "the problem of products." Once leading capitalists were able to enjoy the pricing, financial, and organizational advantages of big corporations, they found themselves living in a much more stable and stratified business climate -- i.e., a capitalist's Garden of Eden. Unfortunately, as Baran and Sweezy explained, for the investing class, the one big downside of this triumph was its tendency toward over-accumulation, the systemic outcome of piling up too much wealth at the top, of creating capital gluts. Like a poker player who's winning too often, major corporate capitalists, thanks to their increased powers, find themselves becoming increasingly dependent upon political and managerial artifice both to stimulate new investment opportunities and to sustain old ones.
Now, if the simple truth be told, this is far and away the most important back-story of the tragic dominance of the automobile in American life. Speculate all you want about ordinary Americans' "love affair with the car," but the institutional fact stands that the triumph and perpetuation of an automobile-intensive way of getting around town in the United States has long been, in the words of the National Association of Manufacturers, the "lifeblood" of capitalism in the United States and around the globe.
And the most important reason for this institutional fact resides in the automobile itself, which is as close as anybody could realistically imagine to the ideal capitalist commodity. Consider the mundane reality: Cars are fantastically large and complicated machines. To manufacture, deliver, maintain, make roads for, insure, store, and fuel them in the
Without the ability to sell tens of millions of fancy steel, plastic, and glass boxes, along with their supporting services and fuels, every year, the big business economy would implode. In comparison, the instant and complete shut-down of the
What is to Be Done?
The truth is that, when used as the dominant mode of transportation, the automobile is a supremely wasteful, destructive, unsustainable technology… ‘
And the massive, massive squandering of energy to which "we" are all consequently addicted is but a subordinate element of a nation-gone-capitalist.
Hence, while good petro-politics is certainly crucial, the genuinely breakthrough in our democratic debate will come only when we start to acknowledge and discuss the reality that capitalists are addicted to making and selling automobiles, whatever the general costs and dangers of doing so may be.’
(b) Capitalism has system requirements that would not exist under communism Military :
by Anup Shah
From Global Issues :Social, Political, Economic and Environmental Issues That Affect Us All
‘Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. The world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children… This is not a way of life at all, in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron.’
‘The arms trade is a major cause of human rights abuses. Some governments spend more on military expenditure than on social development, communications infrastructure and health combined. While every nation has the right and the need to ensure its security, in these changing times, arms requirements and procurements may need to change too’.
Have a look at the following links:
2. World Military Spending http://www.globalissues.org/article/75/world-military-spending
8. Military Aid http://www.globalissues.org/article/785/military-aid
War Economy: Capitalism linked to military rather than human needs
by Roger Marsh,
Capitalism’s main economic claim to being an indispensable system is that it promotes economic growth, the benefits of which ostensibly trickle down to the vast majority. Today, however, in the mature capitalist economies, economic growth has slowed to a crawl (though sufficient to threaten the environment). The gains of labor productivity flow upwards by myriad pumps, after which they are seldom allowed to trickle down. The result is a deeply unequal society and generalized economic stagnation, associated with a dearth of effective demand—countered only in part by financial bubbles, which eventually burst with disastrous effects. In the past five decades, the
This long-term slowdown is associated with growing structural inequality. The economic surplus generated by society is amassed more and more at the top. Worker productivity is much greater than it was back in 1975, but very little of this increased wealth actually goes to workers themselves. .. the wages of
In this Les Misérables economy, it is hardly surprising that the general quality of life for most people has not improved—despite the continuing growth of overall social wealth and the increase in human productive capacities. The Happy Planet Index, developed by the New Economics Foundation, examines how “happy” a country is—as measured by a combination of life expectancy and life satisfaction in relation to its ecological footprint. In the 2009 Happy Planet Index, the
A lot of this damage to individuals has to do with our lack of concern for collective needs. The physical infrastructure of the United States—the built environment of our cities, roads, railroads, bridges, public water and electrical systems, parks, etc.—is crumbling. The per capita ecological footprint of the
Massive amounts of labor and resources go toward lethal military purposes, while an increasing amount of human labor and productive capacity lies idle. By virtually all accounts, economic stagnation will be the order of the day for at least a decade, maybe decades, to come. In March 2010,
(2)Police and Para-militaries:
SOURCE: The Eighth United Nations Survey on Crime Trends and the Operations of Criminal Justice Systems (2002) (United Nations Office on Drugs and Crime, Centre for International Crime Prevention)
Millions of people rely on direct and indirect military spending for their jobs. Because there is not a Guaranteed Livable Income (GLI), Citizen's Dividend or Basic Income Guarantee, there is a huge ECONOMIC imperative to keep war going. This fact has yet to be addressed by peace organizations who do not advocate or promote GLI for peace (if you know of one please email us.). Instead of paying people for war, and paying for war WITH an on-going massive destruction of human and natural resources, instead, we could pay people for peace with a GLI which would allow us to save people, the planet and would create the opportunity for peace.
If 440 Billion [US] creates 2.3 Million [
Employed indirectly by the Military: Large numbers of people are employed indirectly in military-related jobs such as: engineers and scientists, shipbuilding and aerospace. Military spending also uses much of the budgets of the [
Source: US Military-Industrial Complex by Jennifer T. del Rosario-Malonzo, IBON Research Department
There are 513,069 people employed worldwide in 29 companies with 80% or more of their production in arms manufacturing. (This does not count employees at 4 companies which did not list any employment data, or the 67 companies listed who had 1-79% production in arms, nor does it count arms manufacturing in
What is Military Keynesianism?
* Increased military demand for goods and services generated directly by government spending.This direct spending induces a multiplier effect of general consumer spending.
* The maintenance of a standing army removes many workers, usually young males with less skills and education, from the civilian workforce... an employer of last resort ... jobs regardless of the state of the general economy.
* Because the military-industrial complex is a large employer and constitutes a significant fraction of aggregate demand , it is politically difficult for the government to reduce deficit spending. The end result of this, it is feared, is a cycle of constant war and continually high military spending.
* [Critics, say] these policies are no longer viable for developed countries because military strength is now built on high-technology professional armies.
Source: Wikipedia, Military Keynesianism
Number of employees:
Wells Fargo & Co
Economist Paul Krugman and many others have suggested that the health insurance industry has a lot to do with the excessive cost of
From August 1997 to August 2007, employment in the health insurance industry grew an astounding 52%, from 293,000 to 444,000.1 During the same period, employment among physicians, nurses, and others who provide health services or work to support them grew half as fast, by 26%, from 10,387,000 to 13,042,000. Employment in the economy as a whole grew even more slowly, by only 12% over the same 10-year period (see figure). The ratio of health insurance industry employees to health service providers grew from 28 insurance employees per 1,000 provider employers, to 34 per 1,000.
The insurance industry had about 2.3 million wage and salary jobs in 2008. Insurance carriers accounted for 61 percent of jobs, while insurance agencies, brokerages, and providers of other insurance-related services accounted for 39 percent of jobs.
Source: : http://www.bls.gov/oco/cg/cgs028.htm
Actuarial work and risk management
Source: http://ww2.prospects.ac.uk/p/types_of_job/financial_management_and_accountancy.jsp Number of employees: HSBC Holdings plc Financial services 312000 Citigroup Inc Financial services 299000 Financial services 189927 J P Morgan Chase Financial Services 176000 Allianz AG Financial services 167193 Financial Services 138000 Crédit Agricole SA Financial Services 134000 The Royal Bank of Scotland Group plc Financial services 120000 Société Générale Financial Services 120000 Financial services 115000 HSBC Holdings plc Financial services 312000 Citigroup Inc Financial services 299000 Financial services 189927 J P Morgan Chase Financial Services 176000 Allianz AG Financial services 167193
Number of employees:
HSBC Holdings plc
J P Morgan Chase
Crédit Agricole SA
The Royal Bank of Scotland Group plc
HSBC Holdings plc
J P Morgan Chase
In today's New York Times, Paul Krugman endorses a Tobin Tax on financial transactions (FutureOfCapitalism.com readers read about it here first on Wednesday) as "part of the process of shrinking our bloated financial sector." How's that process going? Well, even without a Tobin Tax, employment in the financial sector, which includes insurance and real estate, has shrunk to 7.697 million, down from a peak of 8.362 million in December 2006. That's a loss of 665,000 jobs. Each of those lost jobs has a human impact. The question for Mr. Krugman (he doesn't answer it in the column) is how many hundreds of thousands, or millions, more jobs would he like the financial sector to lose before it is no longer "bloated" in his estimation? And, some follow up questions: How is it possible for a politician or a regulator to know whether a sector is "bloated" or not, and to impose taxes on the sector just until the point at which the sector is no longer bloated? Would this assessment be made for all industries that make up the American economy -- newspaper columnists? Ivy League economics departments? -- or just politically unpopular industries? And why would such an assessment by a regulator or a politician be more accurate or effective than the aggregated wisdom of the individual choices and decisions that make up the overall economy? Right-sizing, in other words, has a way of happening on its own without a lot of help from politicians. What's more, it'd be particularly ironic if the same politicians who, through the Troubled Asset Relief Program and the TGLP, tried to protect the bloated financial sector, turned around and then imposed a tax with the aim of shrinking that same sector. Better to have no bailouts and no Tobin Tax than to have a Tobin Tax imposed to try to undo the effects of the bailouts.
by Editor |
(7)Ticket collectors, Ticket inspectors, Till workers etc:
There are approximately 3500000 people employed as a Cashiers, Except Gaming
(8)Bailiffs and debt collectors:
Rising levels of unemployment and declining real household incomes had a major impact on the ability of some consumers to service debt and pay their bills throughout 2009.In this environment you’d expect it to be boom time for Debt Collection Agencies (DCAs), however, the industry has come under increasing cashflow and other financial pressures.
There are over 600 DCAs in the
There are several strands of business activity.
Consumer Debt Collection - collection from private individuals who have not paid money they owe.
Consumer debt collection splits into 2 areas, recovery through office routines and recovery by personal visits (Field Collection). In the latter case, those employed tend to be part-time.
Commercial Debt Collection - also known as business to business (B2B) collection - this involves collecting from businesses who owe money to other businesses.
International Collection - This can be for creditors or agencies abroad who wish to collect debt in the UK or for UK companies wishing to collect debts from overseas customers. Debt collectors do not generally travel overseas themselves but work within their offices or use agents abroad.
Legal Collection - Once debts pass into the legal recovery stage the process through the courts follows a laid down set of procedures and timetables. Debt recovery actions and direct contact with the debtor has to be within this framework and collectors working in this field must have a good knowledge of court and legal procedures.
Tracing of absconded Debtors – The
Other Credit Support Activities
There are a range of other services which member companies of the Credit Services Association and its sister organisation the Debt Buyers and Sellers Group provide but this factsheet will concentrate on the abovenamed activities.
There are an estimated 20,000 people in either a full or part-time capacity employed by association members.
Dramatic changes in technology have meant big changes in the way the credit industry, and therefore, the prevention and recovery of debt operate. Major databases supply fast and reliable credit information on companies and individuals. Account recovery in large companies has become highly automated, with computers and sophisticated dialling systems; in smaller DCAs the recovery process is more individualistic.
Much of the collection process is by post but increasingly by email, SMS and telephone messaging. But there comes a point when human intervention is required.
Types of jobs: Advertising, marketing and PR