Life-Value vs Money-Value: Capitalism’s Fatal Category Mistake | Prof Jeff Noonan

The 2008 financial crisis spread from Wall Street to the world almost overnight, threatening the lives and livelihoods of millions, even though its causes had nothing to do with the production and distribution of any of the basic necessities of life. Instead, the crisis erupted because the financial system had become unhinged from its real function: supplying credit to productive enterprises. Finance capital increasingly made its money from complex “derivatives,” which are not claims on a company’s profit (as shares are) but on debts packaged and sold as investments. Immense profits were made, which provided the incentive to create more derivatives, causing debts to be piled on debts, all sold with guaranteed returns. Many of these derivatives involved American mortgages. Since these were backed by a physical asset (the house), they were advertised to institutional investors as highly secure, but the models assumed that housing prices would continue to rise. As it turned out, the housing market was a bad-mortgage fuelled bubble. When it burst, the “mortgage backed securities” became worthless, and banks from Athens to Iceland collapsed. Instead of having to foot the bill for their recklessness and greed, major banks were bailed out with hundreds of billions of dollars of public money. Workers lost their jobs, housings, and savings; Wall Street bankers paid themselves bonuses for the greatest failure of the financial system since 1929.

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Behind Global System Collapse: The Life-Blind Structure of Economic Rationality | Prof John McMurtry

This study examines the system-deciding principle of economic rationality for its logical soundness and effects in global practice. Analysis demonstrates the fallacious structure of the underlying assumptions of homo economicus across theories and institutions, and explains how cumulative destruction of global economic, social, and ecological life systems follows from its life-blind mechanism. Higher-order concepts of life-capital, life-value efficiency, and life-good supply and demand are then defined to bring economic rationality into coherence with terrestrial and human life requirements. Read More

Life Capital: The Unseen Unifying / Bridging Alternative — Project Sanity | Prof John McMurtry

Excerpt reproduced from: https://projectsanity.online/life-capital/ The primary act is the act of understanding. — Dr. John McMurtry, Author: The Cancer Stage of Capitalism: From Crisis to Cure “Sanity means health in its etymology and its current use, applied to the mind, the healthy mind. What is most of all needed for the healthy mind of society is… Read More

Seeding, Feeding and Weeding our Physical, Mental and Social Gardens of LIFE | WINNFM – OPERATION ROOM August 21 2018

On August 21st, 2018, I was invited on Dwyer Astaphan’s Operation Rescue Radio Talkshow on Winn FM 98.9 to discuss a wide range of issues that deal with the health of individuals and society.

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“The Productive Base as the Ground of Society and History. Marx’s Base-Superstructure Theory” by Prof John McMurtry

Reproduced from: https://www.globalresearch.ca/the-productive-base-as-the-ground-of-society-and-history-marxs-base-superstructure-theory/5623772 The Productive Base as the Ground of Society and History. Marx’s Base-Superstructure Theory By Prof. John McMurtry Global Research, December 23, 2017 Theme: Global Economy, History, Poverty & Social Inequality “One basis for life and another basis for science is an a-priori lie” –Karl Marx, Economic and Philosophical Manuscripts, 1845. Base-Superstructure Theory (BST) is… Read More

“Decoding the US Empire of Chaos” and “Is There a Unifying Alternative to the Empire of Chaos?” by Prof John McMurtry

Decoding the US Empire of Chaos: The Global Reversal of the Social Evolution of Humanity Reproduced from: https://www.globalresearch.ca/decoding-the-us-empire-of-chaos-the-global-reversal-of-the-social-evolution-of-humanity/5507118 The interview (transcript below)  from questions with Prof. John McMurtry was conducted for the 15thAnniversary of “Geopolitika” a journal of geopolitical and cultural analysis in Belgrade which was broadcast on Radio Belgrade by the weekly show “Silen” on… Read More

A nucleus of an idea whose time has come

In a previous post entitled Is our credit creation system the father of all pathogenic human interferences?, I endeavoured to compare and contrast the delocalized mitochondria that sufficiently powers our cells in our bodies via ATP production (without debt and interest production), and our centralalized banking system that insufficiently disempowers our communities in our nation-states via debt-producing compound-interest… Read More

Why is a focus on the bottom line literally a race to the bottom?

The race to the bottom is a socio-economic phrase which is used to describe government deregulation of the business environment or taxes in order to attract or retain economic activity in their jurisdictions. An outcome of globalization and free trade, the phenomenon may occur when competition increases between geographic areas over a particular sector of… Read More

Is CORRUPTION the invisible hand of the free market?

In my search for understanding of why life-capital at the planetary and social levels of life organisation are being spoiled and deprived while money-capital in terms of the money indices like the global GDP and stock markets continue to increase over time, I am beginning to believe that we have a global corrupt system in which public… Read More

Expanding our Public Health System to include Collective Life-Capital Health

“Natural capital’ is an understandable attempt to put a value on our living planet and all the services it provides for us, writes John McMurtry. But it fails by measuring nature in dollars and cents. We need to develop a new concept of ‘life capital’ that must be preserved from exploitation and degradation no matter… Read More