New Economic Thinking Published on Feb 2, 2014 The financial crisis that ran from 2007 to 2009 has been called a “Minsky Moment,” meaning it offered a much-needed reminder to all economists of Hyman Minsky’s neglected dictum that “capitalism is essentially a financial system.” But even with this reminder, it is hard to know what… Read More
The precursors of money, along with language, enabled early modern humans to solve problems of cooperation that other animals cannot – including problems of reciprocal altruism, kin altruism, and the mitigation of aggression. These precursors shared with non-fiat currencies very specific characteristics – they were not merely symbolic or decorative objects.
This is a revised version of my talk for the 2017 Festival of Ideas for Change, on why we need to reform laws governing the way money is repeatedly created, destroyed and created again for the benefit of those seeking wealth and power.
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
Imagine a world where governments can borrow huge amounts of money created by private corporations (for their own profit) and charge the debt to taxpayers (without any say-so from those taxpayers); then use the money to do whatever they like, including buy arms, make wars and laws and payments to benefit themselves, their supporters and friends.
Imagine a world where the entire money supply is created as debt, and rented out at interest. Debt rented out at interest? Can such a devious a form of robbery even exist?
It can and does; for this is the world we live in today…
How do we begin to explain the total mess the world is in, and why money is the root of it all?
Energy in living systems is all too often equated with money in economy, and vice versa. This has misled generations of biologists and economists alike. As we have seen, living energy transactions are always tied to real interactions and exchanges between molecules with minimum dissipation. For money to be equivalent to energy, it too, has to be tied to exchanges in real goods and services. Unfortunately, money has become more and more decoupled from real goods and services, and hence more like entropy than energy. It becomes entropy in unequal exchanges when the price paid is too low, as in exploitative labor or between currencies that are grossly overvalued on the side of the purchaser. The money market is especially entropic [25,44,48], because it is not based on any real-valued goods or services; furthermore, it artificially inflates the purchasing power of the rich, leading to greater exploitation of environmental resources. This becomes more explicit when the medium for energy exchange in the living system is considered.
http://www.lettersofnote.com/2012/10/people-simply-empty-out.html https://www.presidency.ucsb.edu/ws?pid=29502 by Ivo Mosley http://www.cobdencentre.org/author/ivo-mosley/ Ivo Mosley studied Japanese for a first degree and Musical Theatre for an MA. He has written fiction, plays, and cultural criticism for many publications, both mainstream and fringe. He became interested in money creation while writing on the illusion of democracy, identifying money-creation by banks as the murkiest… Read More
Published on Nov 28, 2016 Detailed Index – Professor Richard Werner’s Talk: 1 – Why is banking so important for the economy, society and the sustainable development of regions and communities? 2 – What causes the recurring boom-bust cycles and crises? 3 – What policies or banking systems have historically been most successful in avoiding… Read More
Source: Holt-LunstadJ, Smith TB, Layton JB (2010) Social Relationships and Mortality Risk: A Meta-analytic Review. PLOS Medicine 7(7): e1000316.
https://journals.plos.org/plosmedicine/article?id=10.1371/journal.pmed.1000316
