'the economy' with a will and even personality

[dee-luded 2,959]

http://www.theage.com.au/comment/philip-freier-head-20160114-gm6e8v.html#ixzz3xNME5zpX

Commentators have endowed the economy with a will and even personality of its own.  They say it is hesitant or uncertain;  ailing,  sick,  or needing a transfusion.   But, more ominously,  they regularly call for sacrifices on its behalf.  

Such language can have dangerous implications for ordinary people,  because it affects how we relate to each other.   Sometimes it becomes no longer as people,  or family or citizens,  but merely as individual components of the economy – lifters or leaners,  to quote a former treasurer.

 

We can see ourselves less as part of a great joint enterprise but as competitors,  motivated more by self-interest and less by compassion.   Yet there is also a sense in which the personal metaphor is appropriate,  and that is to indicate another truth,  that the economy is no more or less than the interaction of persons.

 

In suggesting we can over-emphasise the economy,  I do not mean to deny its centrality,  its direct impact on people's jobs,  family lives,  hopes and plans.  

But, to paraphrase Jesus' teaching about the Sabbath,  the economy was made for people,  not people for the economy.

Once,  when people talked about the economy,  they meant local or national.   Today,  even ordinary citizens are far more aware of the global economy,  and that it is beyond even the most powerful nation-state to dictate or direct.   Technological advances,  especially in communications and transportation,  have brought undoubted economic benefits,  but there are costs as well,  such as increased opportunities for exploiting people and rising alienation,  where people feel powerless to influence what is happening.

Read more: http://www.theage.com.au/comment/philip-freier-head-20160114-gm6e8v.html#ixzz3xNME5zpX
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Edited January 16, 2016 by dee-luded

[Wrecker45 3,378]

I'm dumber for having read that.

Capitalism > Communism

 

[Biffen 12,940]

Deeluded may have started something big here.

Demons of the world unite!

You have nothing to lose but your chambrays!!

[dee-luded 2,959]

On 20/01/2016 at 2:04 PM, Wrecker45 said:

I'm dumber for having read that.

Capitalism > Communism

 

 

you are dumb for sure.... & you of all,  cannot tell,  you should have been a pie...   you only see either black, or white...  must be very dull for you.  sorry I forgot,. excuse me.

 

.... and you have NO sense for the  'grey areas'  in between the 'tea party' you sip along to.   or the potential dictator style of a putin ?   to the (cough) communism style (wrecka speak) of a Barack Obama.

 

wrecka is so dumb,  he Trumps the Donald.

 

I do realise you try to simplify everything,  wrecka,    to either this,,,  or that...  but you miss the candy again wrecka, cause the candy is coloured.

[Wrecker45 3,378]

On 1/21/2016 at 9:47 PM, dee-luded said:

 

you are dumb for sure.... & you of all,  cannot tell,  you should have been a pie...   you only see either black, or white...  must be very dull for you.  sorry I forgot,. excuse me.

 

.... and you have NO sense for the  'grey areas'  in between the 'tea party' you sip along to.   or the potential dictator style of a putin ?   to the (cough) communism style (wrecka speak) of a Barack Obama.

 

wrecka is so dumb,  he Trumps the Donald.

 

I do realise you try to simplify everything,  wrecka,    to either this,,,  or that...  but you miss the candy again wrecka, cause the candy is coloured.

Thanks.

[dee-luded 2,959]

 

On 20/1/2016 at 2:04 PM, Wrecker45 said:

I'm even dumber for having read that.

Capitalism > Communism

 

http://www.theage.com.au/world/new-financial-crash-certain-says-former-bank-of-england-governor-mervyn-king-20160228-gn5pph.html

New financial crash 'certain', says former Bank of England governor Mervyn King

Date   February 28, 2016 - 3:56PM

Lord Mervyn King (Lord King of Lothbury), former Governor of Bank of England. Photo: Fairfax Media

 

Another financial crisis is "certain" and will come "sooner rather than later",  the former Bank of England governor has warned.

Mervyn King,  who headed the bank between 2003 and 2013,  believes the world economy will soon face another crash as regulators have failed to reform banking.

 

He has also claimed that the 2008 crisis was the fault of the financial system,  not individual greedy bankers,  in his new book,  The End Of Alchemy: Money, Banking And The Future Of The Global Economy.

"Without reform of the financial system,  another crisis is certain,  and the failure ...  to tackle the disequilibrium in the world economy makes it likely that it will come sooner rather than later,"  King wrote.

 

A remark from a Chinese colleague who said the West had not got the hang of money and banking,  was the inspiration for his book.

 

King,  67,  said without understanding what caused the crash,  politicians and bankers would be unable to prevent another,  and lays the blame at the door of a broken financial system.

He said:  "The crisis was a failure of a system,  and the ideas that underpinned it,   not of individual policymakers or bankers,  incompetent and greedy though some of them undoubtedly were."

 

Spending imbalances both within and between countries led to the crisis in 2008 and he believes a current disequilibrium will lead to the next.

 

read more  >>>  http://www.theage.com.au/world/new-financial-crash-certain-says-former-bank-of-england-governor-mervyn-king-20160228-gn5pph.html

Edited February 28, 2016 by dee-luded