Imagine an international currency backed by energy? By a raw material that the entire world needs, not gold – which has hardly any productive use, but whose value is mostly speculative – not hot air like the US dollar. Not fiat money like the US-dollar and the Euro largely made by private banks without any economic substance whatsoever, and which are coercive. But a currency based on the very source for economic output – energy.
Rapacious. “They got theirs, so I better get mine. Yes, things change, and, sure this sleepy town is about to boom but that’s the way of the world…. Might as well be part of the winning team – that money making side of things. That’s all you can do.”
I just finished talking to white guy in his late forties, gassing up excavators and huge dump trucks. We’re near the Estacada High School, and he tells me the scrapping is to make room for more ball fields. The school already has fields and a football stadium. This is a town with 3,000.
According to Friedrich Engels, Anti-Duhring, “the only value known in economics is the value of commodities”.1 Commodities are products produced, not for individual consumption by their producers, but products produced for general public consumption.
How Do You Tackle a Big Idea?
It has long been believed that Capitalism is the last economic system. It has triumphed over its rivals, socialism and communism, and has now come to define modern society. Many believe that the religion of Adam Smith was the culmination of all of our economic experiments. To many, not only is Capitalism the best economic system that humanity has ever devised, it is the best that it will ever devise.
Bigotry lets stupid people feel powerful. They are bigots because they are greedy, and they are greedy because they are fearful. They are fearful because they are hollow, and desperate for their materialism and worship of power to fill the void of their lack of character, to mask their internal weakness with an illusion of external power.
Back in the days of churning your own butter, food prep took up the same hours as a full-time job – 44 hours per week on average. In the US, that time has been cut down to one hour per week. Even in India, with the world's highest food prep time, women spend 31 fewer hours per week than US women in 1900. The market's innovation made this possible, but there's still progress to be made.
Earlier this week, I hooked up for a lunch with George Archer and Jonathan Nitzan, two friends of mine who also had previous stints working at BCA Research. I enjoyed our lunch and conversation. After we met, Jonathan sent me a paper he published along with Shimshon Bichler, “Can Capitalists Afford a Trumped Recovery?”:
Gates and other venture philanthropist’s have ‘pioneered’ and ‘seeded’ new education markets through direct funding and by shaping ‘education reform’ policies. Charter schools are an essential component of this mission… allowing impact investors to be the drivers of the education reform industry’s final mission: to fully dismantle public education by way of “anywhere, anytime learning” and “personalized” technologies.
While British Prime Minister, Theresa May, keeps insisting that Brexit pathway will be a smooth, relatively painless process filled without dramatic compromise to lifestyle and outlook, the traders, stockbrokers and wolves of the City have gone about their own business. They, the suggestion goes, knew better, whereas the idiotic Brexiteer ventured to the ballot in total ignorance.
