In this short RSA Animate, radical sociologist David Harvey asks if it is time to look beyond capitalism, towards a new social order that would allow us to live within a system that could be responsible, just and humane. View his full lecture at the RSA. Download a transcript of this video (pdf).
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Geoeconomics - What could this system accomplish in the real world?
At the ends of the spectrum, people on welfare would be encouraged to work and reach their potential, and people who are rich would be encouraged to use their talents to "earn" verses accumulating unearned wealth. The ecosystem and resources would be conserved and innovation to do so would be encouraged, promoting stability. The use of information technology would encourage transparency fostering ideas and consensus. The monetary system based on the above though not redeemable for resources (the public commons) would encourage confidence, and would take into account what true wealth is in terms of natural resources and human capital and give governments the flexibility they are seeking to transition, in light of their obligations. Borrowing from Mason Gaffneys capital turnover concepts, and liquidity in banking proposals, it would reduce sunk capital, encouraging job growth and again overall stability.
What do you think?
Mason Gaffney - Economist
http://www.masongaffney.org/in...
Mason Gaffney - Essays
http://www.masongaffney.org/es...
Mason Gaffney - Book - The Corruption of Economics
http://www.amazon.com/Corrupti...
Mason Gaffney - Book - After the Crash - Designing a Depression Free Economy
http://www.amazon.com/After-Cr...
Geo-Economics - A Proposal for Sustainability, Liberty, and Prosperity
We stand on the brink of a second great depression, with poverty in the midst of plenty. The potential social and environmental costs loom large.
Speculation, especially of land has been at the root of every crash in history.
History clearly shows too little regulation has been proven not to work, but too much has also been proven a failure.
Can we find a common sense balance? - We must.
As the second decade of the 21st century unfolds, ecosystems, financial systems, social systems, and other important institutions, including governments, are being overwhelmed.
Keynesian neoclassical economics seems to have become ineffective (hitting the wall) certainly from a monetary perspective, but also from a fiscal approach perspective as the debts are mounting, and the overall stimulus effect is falling on a dollar in - GDP output result.
With the gigantic amount of debt in the world, and especially derivatives (above all GDP by an order or magnitude) , and taking into account the present global ecology, a destructive stimulus (War) with the potential of WW III, might not "stimulate" the economy enough verses the severe trade off.
What to do?
For too long citizens have been divided over ideologies that appear to have outlived their usefulness.
It is time to take a fresh look at the problems that face our world, and find solutions that fit these pressing problems in a way that unites people in a new synthesis.
Our shared financial and ecological crises seem to lead to solutions offered by Henry George and Silvio Gesell.
These two philosophies combined with what is good in our present system can create something better.
That is Geo-Economics. It combines the best of what would work.
It promotes values of individual incentive, liberty, private property & shared community resources, true conservation, human dignity, and personal responsibility.
Geo-Economics as presently envisioned, would include a simplified tax system featuring low or no taxation on labor and encourage capital turnover, (thus encouraging job creation and innovation), with land the primary "rent" tax to fund our necessary government and services.
Under Geo-Economics, Land (the earth, including water and air resources) would be put back to it's traditional central place in society, and in would be considered separately from capital as it was originally in classical economics.
Geo-Economics includes a new monetary system which takes into account the finite earth, and building in true value into a medium of exchange.
This monetary value would include the concept value of time, (From Gesells theory for money velocity) but also considered in other ways. "Time is money" Other value concepts could include innovation, other socially valued information, price discovery and backed by a basket of commodities, not just Gold, but all resources.
Information technology could tie it together. (Computer Processing, Sensors, Business Intelligence - analytics, Databases, regulated trading systems, communication systems, social networks, etc.)
The system of value would consider whether a resource be used today, or saved for another day, while also taking into account pollution (carbon credits only the beginning?)
All are included as stakeholders with respectful consideration of others ideas to improve this concept.
http://en.wikipedia.org/wiki/H...
Progress and Poverty by Henry George
http://en.wikisource.org/wiki/...
Scholars of George
http://wealthandwant.com/docs/...
http://www.wealthandwant.com/d...
http://www.wealthandwant.com/d...
http://en.wikipedia.org/wiki/S...
Gesells successful system used in the Great Depression
http://alt-money.tribe.net/thr...
The NATURAL ECONOMIC ORDER by Silvio Gesell
http://www.appropriate-economi...
It would be nice to beleive that we could all continue playing that game, but time has moved on, and unless you´re willing to let hundreds of millions starve on the streets, a form of extended social welfare is the only solution, unless of course you want to destroy all the machines... time to think of new ideas,not repeat history
I'm with the Queen - why didn't they see it coming? But, what caused this blindness? Contemporary greed? Goes back a lot further than that - domestication of animals, theoretical underpinning of society by an elite or royal family; agriculture; manufacturing; colonisation. It is about time there was a rethink especially about denial that there are other ways of thinking and acting. It is time to look to other cultures and societies that have been repressed and dominated to ensure the current system serves its masters.
Thats incredibly done - amazing way to tell a story and get attention.