our greatest blessings come to us by way of madness Phaedr. 244a

2012/12/19

munny 101

notes culled from original munny post 

capitalism assumes 2 things: unlimited resources unlimited growth

Draw it out. At some point all resources are finite. And so is need -- the thing that drives growth. And growth is assumed in capitalism. Depended upon to sustain a nation.

Simply: you have to have product, something to market. This is culled from raw materials. work. human beings. Things finite in a real world. A real planet. A planet that depends on balance and forces innate. It's the wall we've hit. (And why they want to mine outer space...)

And you have to have consumers who can afford to buy product. For the system to "work," that is, to sustain a society, things have to work the cycle.

Need becomes (necessarily) created, because growth is essential to the process. Planned obsolescence. Pet rocks. Thin.

Thus, the market is driven more like a cancer than by the symbiotic principles of nature. And only the latter endures.

There has to be tempering, balance.

Those 401k's that will feed you in old age. Security? Foreign thought to a country that has no real safety nets. And of course, the whole business is padded and subsidized... Free market is a myth. Look at oil.

And now all that paper speculation. Derivatives. Algorithms. Money based on thin air.

The Freemarket is a myth. And concentration of wealth that works to protect and propel itself first -- is contradictory to democracy.

Now see Munny 201.

extra credit: http://www.nytimes.com/2013/02/04/opinion/krugman-friends-of-fraud.html?ref=paulkrugman&_r=0

http://krugman.blogs.nytimes.com/2013/02/11/more-about-us-austerity/

http://economicsofcontempt.blogspot.com/2008/07/official-list-of-punditsexperts-who.html

http://www.rollingstone.com/politics/blogs/taibblog/taibbi-talks-price-fixing-with-leonard-lopate-20130426