THE BANKS AND THE CANCER STAGE OF CAPITALISM: FROM CAUSE TO CURE | Prof John McMurtry (1997)

(Abstract)

There is a hidden war of value codes in the world today. On the one hand, there is the life code of value: Life → Means of Life → More Life (L → M of L→ L1). On the other hand, there is the money code of value: in its classical form, Money → Commodity → More Money ($ C → $1). In its carcinogenic form, this sequence becomes: Money → More Money → More Money ($ → $1 $2  $n). The latter money sequence of value is decoupled from any commitment to life function and is driven by the lending and investment cycles of banks. This paper demonstrates the carcinogenic properties of this sequence at the social level of life-organization.

The second part of the paper proposes a remedy. The first step consists in making the government-conferred privileges of banks – creating money by credit and lending others’ money stocks at compound interest – accountable to society’s life requirements. The second step consists in returning central banks to their constitutional mandate of lending to governments rather than alienating this function to private banks. The article concludes by arguing that the great obstacle to Canada’s and other countries’ economic well-being is the abdication by governments of their sovereign powers over society’s money supply, and the long cultivation of public ignorance on this ultimate issue of public policy and value decision.

John McMurtry
Department of Philosophy
University of Guelph

Bank of Montreal Distinguished Visitor Lecture, Trent University, March 13, 1997. Read More

Climate Catastrophe and Social Justice: Analysis and Action (2008) | Prof John McMurtry | scienceforpeace.ca

Published 2008-10-04 by John McMurtry

Keynote Address

Science for Peace and University of Toronto Students Union Conference
Climate Catastrophe and Social Justice: Analysis and Action
October 4, Earth Sciences Building, University of Toronto

The destabilization of the world’s climate and hydrological cycles is a catastrophic effect of a more general disorder to which it is not connected — the failed global market experiment and its regulating money-value system which brings degradation and despoliation of human life and life support systems at virtually every level of life organization.

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Why is there a War in Afghanistan? | Prof John McMurtry (2001) | scienceforpeace.ca

The following article was part of a Science for Peace Forum and Teach-In, about How Should Canada Respond to Terrorism and War on Sunday December 9, 2001. A speech was made there by Professor of Philosophy, John McMurtry. It looks at a wider and deeper issue of totalitarianism that is creeping in, or, as McMurtry suggests, continuing in more earnest.

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Good and Bad Capitalism: Re-thinking Value, Human Needs, and the Aims of Economic Activity | Giorgio Baruchello (2009)

The world is experiencing a twofold crisis. On the one hand, the global, virtualised economy is collapsing and, in its fall, it is bringing down significant sections of the real economy. On the other hand, the environmental collapse of the planet is also marching on, and there is no clear sign that this may stop soon, for the most commonly discussed paths for economic recovery seem to rely upon further spoliation of the Earth’s life support systems. In this book chapter, the reader is to encounter an account of this twofold crisis in light of the deeper axiological grounds that are causing it. To this end, the present author refers extensively to the theory of value developed by Canadian scholar John McMurtry, according to whom: “[F]inancial crises always follow from money-value delinked from real value, which has many names but no understanding of the principle at its deepest levels.”

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Capitalism and Freedom: The Core of a Contradiction – An Essay on Cornelius Castoriadis and John McMurtry | By Giorgio Baruchello (2008)

0.0 Capitalism and freedom is not only the title of a 1962 book by Milton Friedman playing a pivotal role in asserting worldwide the neoliberal paradigm, but also the slogan that leading statesmen, politicians and opinion-makers have been heralding in recent years, in order to justify, amongst other things, the slashing of welfare states and the invasion of foreign countries…

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Devolution: a road map | Local Government Information Unit (UK)

Reproduced from: https://www.bl.uk/collection-items/devolution-a-road-map Devolution: a road map Document type Paper Publisher Local Government Information Unit Date of publication 4 June 2015 Subject(s) Social Policy, Community Development and Regeneration Download (1.6MB ) This paper outlines proposals to invert the current relationship between central and local government by creating a locally led process of devolution in England,… Read More

From Political Warring Insecure Complexes to TRUE PEACE INITIATIVES based on UNITY of COMMUNITIES

It all started last week, when I had another flare of my recurrent joint problems, which are usually triggered from stress at the workplace that appears to be going from bad to worse. I have been trying to wean myself off steroids for the inflammation in my joints over the year, but each time I… Read More

HAS THE CYCLE BEEN BROKEN? | COMMENTARY BY CHARLES WILKIN QC (Aug 8, 2019)

In late 2015 I published a book called “Breaking the Cycle” in which I drew attention to the political tribalism from which our country has suffered since 1967. I also focused on the need for constitutional, governance and electoral reform. I documented the excesses of the Douglas Government up to and including the 2015 general election. I suggested that the result of that election won by Team Unity, a coalition of three political parties, raised hope that the never ending cycle of political tribalism would be broken. I warned however that change was not guaranteed. I wrote the following at the end of the first chapter: “Previous governments quickly fell into the entrenched partisan ways with the leaders consolidating power around themselves and their close associates. Will the new Prime Minister, Timothy Harris and his Team Unity government do the same? The jury is out and the clock is ticking.”

The purpose of this commentary is to reflect on where the country is four and a half years later.

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Emancipation From Programmed Dependency | Dr Patrick Martin MD

In November 1937, Marcus Garvey spoke at the MIS Hall, Lower Market Street. He said, “Your island is your garden of Eden”.  “You must work and get things for yourself”. 

Bob Marley sang similarly: “Not one of my seeds / Shall sit in the sidewalk and beg bread” (So Jah Seh, 1974). 

Seeking after government handouts is like sitting in the sidewalk and begging bread. This is exactly what programmed dependency encourages. A mentality of getting things without effort.

Programmed dependency exists when otherwise able adults are officially categorized as poor without scientific assessment including means-testing. Such persons may be given money from the Treasury without performance conditions. If not money, a contract, house or land may be part of the giving and receiving.

…. Read More

Nobody left behind: maximising the health benefits of an inclusive local economy

This report makes explicit the links between health and the local economy, their interdependence, and the action that local authorities and their partners can take to ensure that health and wellbeing are key considerations in local and regional economic development strategies.

Public health
06 Feb 2019

Ensuring that the local economy benefits everyone – sometimes known as ‘inclusive growth’ – is a priority for local government.

The concept of inclusive growth was originally developed by economists working in developing countries, when organisations such as the World Bank realised that economic growth was not always resulting in the reductions in inequality and increases in living standards that had been expected.

There is increasing evidence that the benefits of wealth and a flourishing economy will not simply ‘trickle down’ to the poorest sections  of society.

Much of the work that Government can do to improve the economic prosperity of a country takes place at the national level. But the way local authorities tackle issues of local economic development can also make a positive difference to the wellbeing of the communities they serve.

Across the country, local authorities, supported by their public health teams, are making valiant efforts, in the face of significant financial constraints, to make this aspiration come true.

The issues discussed here and the many examples of good practice will help ensure that, when it comes to our work of economic development, nobody is left behind.

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