DJP
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Seems to me the WSM forum is a dead donkey. There’s been more conversaion ABOUT the forum than actual discussion on it. No-one really uses yahoo-groups these days and I wouldn’t be that suprised if yahoo pulls the plug soon.I’ve been having better disussions on various facebook groups these days. If this online forum will catch on time will tell, I may make some changes so users can comment on articles without registering, but as far as the WSM yahoo group is concerned I think we should let it die a death, if it hasn’t died already.
Hello Nod,So, over 30 years you have managed to amass a comfortable pile of crumbs. You’ve put yourself to use, the only use that people are able to put themselves in the present social system, and helped increase the size of the cake that is societies capital. But by spending too much time staring at your pile of crumbs you’ve failed to noticed that the cake mix is rotten, that the fumes from the bakery pollute the environment we live in and that the bakery owner grows fat from your efforts.That a life of wage slavery should have such an effect on someone is understandable, even well paid wage workers are always in a precarious position, whether or not they are aware of it. Most slaves, even well fed ones, secretly dreamed of being slave-masters. We seek the end of the system wage slavery.You should really know better.
3 comrades from Norwich managed to hand out around 450 leaflets at the event in the city which was a well attended affair with around 2000 attending.
Haven’t read this one but his guide to ‘Capital’ is probably the best around. ‘From Political Economy to Economics’ is pretty good as well, at least the bits I read where.He didn’t seem to be a Keynesian.
..Another high point was when I found myself in a minority of one for not agreeing that Money = Debt.Perhaps next time I’ll do a presentation on Leibniz Law of Identity!
Went down to the Occupy Norwich camp last night for their ‘monetary reform’ working group.There was a fair amount of amicable discussion, though with the majority in favour of some kind of ‘monetary reform’ (perhaps not surprising as this was the subject for the meeting)I made some comments, well quite a few, and ones about the fractional reserve being a red herring and how commercial banks going bust disproves that they can make money out of fresh air, got funny hand signals which are a kind of silent applause.Unfortunately the idea of a Norwich pound seemed quite popular.There where also two local people present who today I have found out have written a book critiquing banking from a Muslim perspective.I intend to go down again. This is definitely something worth persisting with and a good forum for discussion. How often do groups of people gather outdoors to discuss the nature of the society we live in?
If anyone’s interested Positive Money’s proposals can be read here
Should be meeting some people who are impressed with these ideas tonight. I feel a standard article is in the pipelinePerhaps the Simon Clarke’s book Marx, Marginalism and Modern Sociology may have some relevant stuff.Or this article.’The law of diminishing returns’ is a piece of bunk that is taught in economics lessons but especially in relation to corporation size and efficiency doesn’t really have any bearing on the real world of business.To be honest though, to me it seems like you heading down a dead-end ally…
ALB wrote:Pity you couldn’t make it since it seems to have been a bit of currency cranks convention, with only one person saying anything sensible:There ‘monetary reform’ group meets every wednesday so hoping to come down next week. They may also be starting a group to discuss capitalism in general.
Didn’t make it to the meeting in the end. But if anyone is interested a transcript is hereMight see if they’ll have me to do some speaking.
I guess the problem is that ‘money’ has come to mean more than M0. The Bank of England even stopped publishing M0 data in 2006Perhaps a better approach today is to talk about ‘credit’ and ‘wealth’?An expanision in bank loans is an expansion of the money supply (in terms of M1, M2, M3 and M4). But is this necessarily an expansion of wealth? Obviously not.Definitions of money are here
