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Please make use of my copy of this text, my highlights are included in this version

In order to counter the prevailing narrative all too often forced upon us, Joon Chang does a valid job of presenting his research and evidencing his take on the alternative consequences of this form of ‘neo liberal’ capitalism. This form of market based trade varies from those of historical applications, and as the author shows, these do not transport well across borders.

The key points that I would like to make note of are as follows;

  • The prevalence of limited liability which ties into what I have read of other commentators, who raise legitimate concerns around the level of risk taking that this encourages and the fact that it is the shareholders who stand to loose their entire investment. The historical structure was one of full exposure to the risk of the venture ensuring that incentives of management match that of the investor

• I would like to draw attention to the assertion that ‘there is no such thing as a free market’ and that ‘economics is not a science but a political excercise’. This further raises the question as to why it is taught so prevalently in high schools ?

• Free market for labour? No, the biggest control in place here is immigration!

• The developed world benefits greatly from historical legacies and development which has taken place over centuries – this points directly to colonialism in my view – no observer should discount the impact the modern world structure has had on wealth and continued productivity

  • Change (economic development) and Value must be put into perspective, who is giving it value and is it of value to everyone?

• The way in which nations are assessed in terms of quality of life or economic indicators leaves a lot to be desired, if qualitative factors such as prison populations, income inequality, not too mention debt levels were factored in to this argument, the perspective would change quite significantly

• Perhaps most importantly for me; the impact of colonialism has not been deeply considered when trying to understand ‘modern world’ problems. After all, a number of Eurocentric commentators like to applaud Europe’s ‘contribution’ to the making of this contemporary world, how it was shaped (literally, with a blood soaked sword) by the West, but in this process of this construction why are we failing to appreciate the ongoing impact of over 400 years of systematic, comprehensive oppression, population upheaval and geographical reconstruction. Why?

 

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Please read this article by MoneyWeek on the recent raising of the US debt ceiling….it continues to shatter the perception that the US is the most economically prosperous nation with a healthy growth rate

The US has just voted to blow its budget

“None are more hopelessly enslaved than those who falsely believe they are free.” – Johann Wolfgang von Goethe A cliché, and yet so pertinent. So many people think that the struggle against the New World Order is about preventing becoming their slaves. But we ARE their slaves! The essence of Slavery is that someone else […]

via From Chattel Slavery To Capitalism — Real Currencies

 

Quote  —  Posted: February 20, 2019 in Imperialism, Poverty
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This is a piece from 2017, by TruthOut.org. Putting aside the kind of doomsday/beware: the robots are coming type scenario, I would like to direct readers to the impact and consequences discussed for wealth inequality, productivity and earnings in this new era, which in turn has significant consequences for debt;

http://www.truth-out.org/news/item/40495-the-robot-economy-ready-or-not-here-it-comes

 

If he didn’t repeat himself yesterday, then I might not have known that he said the same thing back in 2015….

Bank of England governor trashes textbook theory and rips apart the workings and effects of the global financial superstructure, read the original speech here from three years ago

…and another blog which probably analyses it better than me here

Their world imagines self-interested, atomistic agents, coolly calculating odds over all future possible states of the world, writing and trading contracts with each other, all frictionlessly enforced, all achieving mutually beneficial – indeed socially optimal – outcomes.

Of course, markets only clear in textbooks. In fact people are irrational, economies are imperfect, and nature itself is unknowable.

When imperfections exist (which is always), adding markets can sometimes make things worse.

Mark Carney timeless quotes can be found throughout this speech

https://www.rt.com/shows/renegade-inc/379579-uk-finance-curse-suffer/

 

Is RT just a mouth piece for Russian imperialism….maybe, but doesn’t the great USA have mouth pieces and sensationalists such as Fox, and perhaps others media? Let us critically judge the content for what its worth.

From one of the Authors of ‘The Princes of the Yen’, view Professor Werner explain the workings of banking, but also justify some of the solutions to the issues it creates.

Many of these are scorned upon by neo liberals, often being rubbished by talk of the lack of competitiveness it would create, the lack of wealth for society as a whole….blah blah…haven’t we heard these arguments before, circulate again and again…but what haven’t we heard? How about the lack of manipulation, how about real democratic authority and accountability. What of fair pricing and transparency as opposed to superficial gains and over valued delusional self worth?

I must draw your attention to David Buik, ‘City Grandee’ of over 50 odd years experience of the city, frequently on mainstream business media, yet he didn’t even know how the City of London Corporation actually worked?? I would continue to question who these prominent experts are and what they actually know before we have them paraded in front of us as knowledgeable advisers and commentators