Who's the boss?

Last week we looked at legal and moral rights. This week we’ll examine economics.
In ancient societies, rulers exacted taxes to pay the cost of governing. They conscripted soldiers for their armies and workers for their civil projects. People bartered day to day for business, sons learned from their fathers. Fishermen’s sons became fishermen, farmers’ sons became farmers, and carpenters’ sons became carpenters. Itinerant merchants traded foreign goods for local products as they made their circuit. Transactions were licensed and taxed by local authorities.
   In the eleventh century AD, merchants formed guilds to resist excessive demands of feudal lords and to regulate competition. Encouraged by the merchants’ success tradesmen formed their own guilds to bargain more effectively, ensure consistent quality, and regulate the supply of products. Guild leaders, especially merchants, gained political influence. Power shifted from those who owned land to those who produced and traded commodities.
   With the advent of machinery, many merchants became entrepreneurs and built factories to replace cottage industry. Their near-total control over production and distribution gained them immense power. Industrialists took control from land barons; capitalism replaced feudalism. Partnerships were formed to finance bigger and bigger businesses. Bigger businesses meant bigger risks and corporations were created to isolate individuals from the total liability of the company.
   Just as merchants banded together in guilds to resist the excessive demands of the feudal lords, workers formed unions to bargain against the oppression of the industrialists. Governments also recognized the growing imbalance of power between the industrialists and the general population. Injustices were noted and laws were enacted to limit corporate domination. Governments also formed organizations to provide services which are socially necessary but not readily profitable.
   Economic statistics have become the standard measure of success in all endeavours. The economy has become the greatest concern globally, even in decisions such as when to marry or have children. Affordability has become a key determinant even in matters of morality. The almighty dollar has come to challenge our almighty God.

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