As we know the economy has as objective to develop all sorts of methods and activities to satisfy human materials needs of the best possible way. However, the human being is not only a being of material needs: food, clothing, home, health, etc, but is also a being of wishes that constantly aspire to better food, better clothing, better household conditions and better health, with aspirations always renovated to achieve better living conditions in general.
Our ancestors had our same or similar needs and desires but they either accepted their lifestyle more or less primitive in terms of comforts and services, or they settled down on what can be called the conservative economics, I mean: work, save and finally enjoy, buying material goods that they needed or liked and they could afford. With this economic philosophy, they didn’t never wrong, they didn’t ever were trapped by their own economic decisions. They didn’t tend to owe anything to anybody because they refrained from buying on credit, and in this way, they could only fear the lack of work and therefore the lack of income and the coming of a long or serious illness.
With the development of new goods that make life more active and enjoyable, such as cars, home appliances, aircraft, etc; the progressive economist emerged. It is based on the purchase on credit, and with that the form of economic life of people is reverted: enjoy, work and pay while we can. The welfare State (when the State guarantees all persons the health, aid in case of unemployment and pension or economic aid in case of retirement) contributed to this new approach.
But not all the politicians who administer the enormous public wealth that are needed to face up to those obligations assumed by the State what is called social security, are competent, honest and fair. Many of them decide to abuse of their positions to enrich, or use them to waste or squander with political ideological purposes in a sectarian way among supporters and friends.
From here on, citizens are trapped by debts and are in the hands of too many corrupt or greedy politicians. One day they decide to borrow motivated increasingly by advertising and consumerism, enjoy the goods and then work. It comes another day when the cycle is broken, the work ends and no one can pay anyone, (except officials and wealthy people) starting with the Administration as it happens in Spain.
That is happening in the EU and the European politicians, who were wrong when they introduced the euro as single currency for all members, without first establishing the necessary harmonization and economic regulation and taxation for everybody, only think that the countries that have deceived or mismanaged their public accounts have the easy way to get more and more debts to deal with those caused by the accumulated waste.
In conclusion of these simple and basic reflections, I think that citizens have two options: we can go back to the conservative economy and avoid in the future dramatic situations such as the present ones, or we can demand competent, integrity and honest politicians that pursue the common good and do not lie us. As we think always about human beings, the moral (public and private) is the first thing that should prevail in human relations and, in that individual and collective moral must have justice, confidence and intellectual and practice honesty.