Thursday, 2 August 2018

3 Acres and A Cow, Milking the USA, who ate all the pies?  From Dr Paul Craig Roberts who served in the Reagan Administration.

Going back to an earlier analogy about the map not being the territory, I see this Article as a Map of Political Economy in the USA and By Extention a blueprint upon which the nation states which form The  Washington Consensus, base their own political economy. ( The PetroDollar is Massively significant in compounding mistakes in our present Navigational Bearing)

Of Course, Energy is a Fundamental *First Cause* if you will in the economy but if one looks to Motivations and the end causes by which we can come to find a sensible course.

"This is most obvious in the animals other than man: they make things neither by art nor after inquiry or deliberation. That is why people wonder whether it is by intelligence or by some other faculty that these creatures work, – spiders, ants, and the like... It is absurd to suppose that purpose is not present because we do not observe the agent deliberating. Art does not deliberate. If the ship-building art were in the wood, it would produce the same results by nature. If therefore, purpose is present in art, it is present also in nature.[20]"

What after all is seeds? what indeed is the Value of One Dollar or One MToe of Oil or 1000 Kwh of Electricity.

After all of the Measurement and Analysis is done and we have our Cold Hard figures what do we do with them what are we aiming for.

Ezra Pound wrote his ABC of Economics in 1932/33, it is a quick short read and dispatches the dismal science efficiently without bluster

The Penrtich Uprising marched to the Sloga, An End to the National Debt and a Larger Loaf of Bread, The Distributists ( Chesterton and Belloc ) Espoused 3 Acres and A Cow, The US Emancipation movement 40 acres and a Mule. Pounds Solution would seem very much in tune with Dr Craig Roberts, Half the Working Week and Pay a wage commensurate with a dignified happy life.

Distributism favours the dissolution of the current private bank system, or more specifically its profit-making basis in charging interest. Dorothy Day, for example, suggested [36] abolishing legal enforcement of interest-rate contracts (usury). It would not entail nationalization but could involve government involvement of some sort. Distributists look favourably on credit unions as a preferable alternative to banks.

“The world has enough for everyone's need, but not enough for everyone's greed.”

― Mahatma Gandhi

Martin Shubick,

''The monetary and financial system of an economy are part of the socio-politico-economic control mechanism used by every state to connect the economy with the polity and society. This neural network provides the administrative means to collect taxes, direct investment, provide public goods, trade. The money measures provide a crude but serviceable basis for the accounting system which in turn, along with the codification of commercial law and financial regulation are the basis for economic evaluation and the measurement of trust and fiduciary responsibility among the economic agents. A central feature of a control mechanism is that it is designed to influence process. Dynamics is its natural domain. Equilibrium is not the prime concern, the ability to control the direction of motion is what counts.

Money and financial institutions provide the command and control system of a modern society. The study of the mechanism, how they are formed, how they are controlled and manipulated and how their influence is measured in terms of social, political, and economic purpose pose questions, not in pure economics, not even in a narrow political economy, but in the broad compass of a political economy set in the context of society. ''
Martin Shubik

What I am trying to get across is even where we base our analysis in terms of the energy conversion potential of the economy, which I believe is a positive Story where there is room for 'Miserable Optimism',  The Miserable element provoked by the future prospect of confronting Twain's aphorism, ' It is much easier to con a man than to convince him he has been conned after the event'