I started writing about this when I started posting at The Angry Bear Blog. I coined the phrase: The money from money economy. Everyone gets the "trickle down" labeling. What was missed by the voting public were phrases such as: Service economy (you don't want to do those dirty jobs do you?) and "Economies of Scale". A phrase to hid the actual intent of monopolizing. See with computers coming on line in the 80's business could run bigger on less and everyone would reap the savings....via trickle down. We got "green mail".
It was not legal until the late 80's to buy back stock or to pay with stock options. Our economy went from 17% finance to now 36% finance. Look up "financializaiton" in Wikipedia. The number shifts are astounding.
What is now being missed and was hinted about in a 2005 World Bank report on what creates wealth is "trust". The report noted that for a mature economy such as the USA, it's wealth came from intangibles. Namely, 76% of our wealth generation came from our judicial and education systems. The 2 systems the conservative movement has been doing their best to destroy via the promotion of miss trust. This promotion of mistrust is the real danger for our and other western nations.
There is not a successful nation where mistrust is the dominate trait of it's citizens. Sure, China looks successful, but they can't go much further until they become more trusting. Their success is only because our economy was shifted to predominantly a money from money system.
Thus, the capitalist, the conservatives, the money class are actually undermining their ability to generate wealth. But, this is what happens when you think the way you have lived your life proves that it is the model for all to live by. Can you say Christian Nationalism? Same perspective. The money remodeled the economy based on how they experienced earning a living. It really is rather foolish of them. Rather ignorant of them not to mention conceded.
A movie that captured all this and a favorit "Other Peoples Money". The kick you in the ass line from it: People say I don't make anything. Well, I make you money.
Someone forwarded this to me due to my interest in ownership, capitalism, and commodification. It was great to read something that so succinctly captures the issue that most major outlets continue to miss. Adam Smith himself warned against monopolists and rentierism as what would truly undermine a nation's wealth. Not that I agree with him on a lot of his ideas, but pro-capitalism thinking tends to leave out those two essential details.
it's like nothing changed since 1800 AD. Oh yes lots of trash cars and BILLIONS more zombie turds of late capitalism going to work inside a terrible techno-industrial civilization. Wow!
A catchy beat for depressingly true lyrics. The song gets you rocking, but we need to do far more than tap our feet.
The finance economy produces nothing of value but extracts that which held value. The gains generated from asset class inflation must be clawed back. The slips of paper that confer ownership to vast stores of resources must be voided.
To paraphrase, "I say I want a revolution!" No pulling punches like the White Album song.
I started writing about this when I started posting at The Angry Bear Blog. I coined the phrase: The money from money economy. Everyone gets the "trickle down" labeling. What was missed by the voting public were phrases such as: Service economy (you don't want to do those dirty jobs do you?) and "Economies of Scale". A phrase to hid the actual intent of monopolizing. See with computers coming on line in the 80's business could run bigger on less and everyone would reap the savings....via trickle down. We got "green mail".
It was not legal until the late 80's to buy back stock or to pay with stock options. Our economy went from 17% finance to now 36% finance. Look up "financializaiton" in Wikipedia. The number shifts are astounding.
What is now being missed and was hinted about in a 2005 World Bank report on what creates wealth is "trust". The report noted that for a mature economy such as the USA, it's wealth came from intangibles. Namely, 76% of our wealth generation came from our judicial and education systems. The 2 systems the conservative movement has been doing their best to destroy via the promotion of miss trust. This promotion of mistrust is the real danger for our and other western nations.
There is not a successful nation where mistrust is the dominate trait of it's citizens. Sure, China looks successful, but they can't go much further until they become more trusting. Their success is only because our economy was shifted to predominantly a money from money system.
Thus, the capitalist, the conservatives, the money class are actually undermining their ability to generate wealth. But, this is what happens when you think the way you have lived your life proves that it is the model for all to live by. Can you say Christian Nationalism? Same perspective. The money remodeled the economy based on how they experienced earning a living. It really is rather foolish of them. Rather ignorant of them not to mention conceded.
A movie that captured all this and a favorit "Other Peoples Money". The kick you in the ass line from it: People say I don't make anything. Well, I make you money.
Thank you for your posting.
Someone forwarded this to me due to my interest in ownership, capitalism, and commodification. It was great to read something that so succinctly captures the issue that most major outlets continue to miss. Adam Smith himself warned against monopolists and rentierism as what would truly undermine a nation's wealth. Not that I agree with him on a lot of his ideas, but pro-capitalism thinking tends to leave out those two essential details.
Glad you liked the piece, Antonia. I try to be clear.
Thomas
Great piece. And I was at that 1988 Floyd concert. That very one on Lon Gisland, as the natives pronounce it.
it's like nothing changed since 1800 AD. Oh yes lots of trash cars and BILLIONS more zombie turds of late capitalism going to work inside a terrible techno-industrial civilization. Wow!
I've thought that too. It's why I'm doing such a deep dive into human society (David Graeber, etc.).
Thomas
Wish the best. Late David Graeber did us all a great favor. In that breath, check out James C Scott (older generation) anarcho-academic.
Will do. Thanks.
Thomas
Lord, I despise the rentier class.
Money!
A catchy beat for depressingly true lyrics. The song gets you rocking, but we need to do far more than tap our feet.
The finance economy produces nothing of value but extracts that which held value. The gains generated from asset class inflation must be clawed back. The slips of paper that confer ownership to vast stores of resources must be voided.
To paraphrase, "I say I want a revolution!" No pulling punches like the White Album song.