Mysteries of Money

I think it’s a very interesting read with lots of detail. It shows how “money” in whatever form is NOT a value-free commodity. On the contrary…

The Baseline Scenario

By James Kwak

Have you heard this story before?

The first assets deemed safe were coins made of precious metals.  As a technology, coins had many problems: they could be clipped or, debased by the sovereign. They had to be assayed and weighed to determine their value in the best of times; whole currencies would collapse in the worst, when the “fraudulent arts” gained the upper hand. Coins were bulky, too, and vulnerable to theft. But they worked: they were always liquid, their edges could be milled to prevent clipping; and, for long periods of time, coins served as fairly reliable stores of value.

As trade expanded, problems with coins gradually led to the creation of paper money – privately-produced circulating debt in all its early forms: moneys of account; bank notes and bills; goldsmith notes; and merchants’ bills of exchange, all of them convertible on short notice into coins.

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To What Extent Is Economics an Ideology and to What Extent Is It a Useful Theory?

More people must see and read this. So I send it out in the hope “One small step…” We’re hoodwinked and blinkered

Fixing the Economists

By Philip Pilkington, a macroeconomist working in asset management and author of the new book The Reformation in Economics: A Deconstruction and Reconstruction of Economic Theory. The views expressed in this interview are not those of his employer

Ever since the Enlightenment many societies have moved away from justifying their existence and formulating their aims through recourse to religious language. Gone are the days of the ‘Great Chain of Being’ which justified the natural and social orders all the way from the plants and trees through the commoners, via the nobility and the King all the way up to God the creator. What replaced these ideologies were ideas about ‘Progress’ – how the good society was attained through Progress and what such Progress would look like. Progress, it was said, was to be grounded in the scientific method; what had worked so well to uncover natural processes…

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 Here’s a thing guys.

Driving around near Birkenhead last week, my aunt ill, my last elderly blood relative, alternating between quiet musing and playing items of music…

… and thinking inevitably about my declining years, how much change I’ve inevitably noticed/been a part of, during over 60 years when to a greater or lesser degree, I’ve been struck gently or forcefully by various stuff, items and events local and national, I was impressed by the apparent relevance and appropriateness of these musical pieces to my musings and perhaps to my current situation, using that as a thumbprint for my wider situation where- like some of you guys- I’m at over 2/3 of “My Journey” completed. They’re like a rash of starting guns going pop,pop,pop.

The titles give clues,signposts…

What’s our place? We’re insignificant cogs. Unless we realise it. Then- we’re disillusioned. A bit freer.

We’re stuck in place: Our job is to consume stuff. Period. We happy with that offer?

Then today I saw: From John Harris

2016: Understanding the nightmare

There’s a wealth of material here. If you can, read her book too

Sarah Kendzior

A selection of my articles on the hellscape that was 2016, divided by topic. Full list available here. If you want an understanding of how we got into this mess, try my book on the conditions leading up to the election, “The View From Flyover Country”

Thank you to the Globe and Mail, De Correspondent, Quartz, The Guardian, Foreign Policy and the many other outlets who support my work. Thanks most of all to my readers! Normally after a year like this I would say next year is bound to be better, but…

Anyway. Here we are.


Donald Trump’s shakedown of the American Dream (12/4/16)
We’re heading into dark times. This is how to be your own light in the age of Trump (11/18/16)
Our fate was sealed long before November 8 (and not because the election’s rigged) (11/3/16)
A fascist’s win, America’s moral loss (11/9/16)
Trump’s strategy:…

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