zenpundit.com » economics

Archive for the ‘economics’ Category

Going 3D

Wednesday, December 14th, 2011

Announcement: America 3.0

Monday, November 28th, 2011

Hearty congratulations to Lexington Green and James Bennett of Chicago Boyz on their book deal!

America 3.0

James C. Bennett, author of The Anglosphere Challenge (Rowman & Littlefield, 2004), and Michael J. Lotus (who blogs at Chicagoboyz.net as “Lexington Green”), are proud to announce the signing of a contract with Encounter Books of New York to publish their forthcoming book America 3.0.

America 3.0 gives readers the real historical foundations of our liberty, free enterprise, and family life.  Based on a new understanding our of our past, and on little known modern scholarship, America 3.0 offers long-term strategies to restore and strengthen American liberty, prosperity and security in the years ahead.

….America 3.0 shows that our current problems can be and must be transcended with a transition to a new America 3.0, based on modern technology, decentralized communities, and self-reliant families, and a reassertion of fiscal responsibility, Constitutionally limited government and free market economics.   Ironically the future America 3.0 will in many ways be closer to the original vision of the Founders than the fading America 2.0.

America 3.0 gives readers an accurate, and hopeful, assessment of our current crisis.  It also spotlights the powerful forces arrayed in opposition to the needed reform.  These groups include ideological leftists in media and the academy, politically connected businesses, and the public employees unions.  However, as powerful as these groups are, they have become vulnerable as the external conditions change.  A correct understanding of our history and culture, which America 3.0 provides, shows their opposition will be futile.  The new, pro-freedom, mass political movement, which is aligned with the true needs and desires of Americans, is going to succeed….

Read the rest here.

Beware of Greeks Spurning Gifts…..

Wednesday, November 2nd, 2011

 

This has some possible geopolitical implications:

Greek government in chaos with debt deal in doubt

ATHENS, Greece (AP) – The Greek government teetered and stock markets around the world plummeted Tuesday after a hard-won European plan to save the Greek economy was suddenly thrown into doubt by the prospect of a public vote.

One day after Prime Minister George Papandreou stunned Europe by calling for a referendum, the ripples reached from Athens, where some of his own lawmakers rebelled against him, to Wall Street, where the Dow Jones industrial average plunged almost 300 points.

Papandreou convened his ministers Tuesday night, and a spokesman said the prime minister was sticking to his decision to hold the referendum, which would be the first since Greeks voted to abolish the monarchy in 1974. Papandreou has also called a vote of confidence in his government, to be held midnight Friday.

“The government is not falling,” said Angelos Tolkas, a deputy government spokesman.

….A Greek rejection of the second rescue package could cause bank failures in Europe and perhaps a new recession in Europe, the market for 20 percent of American exports. It could also cause Greece to leave the alliance of 17 nations that use the euro.

European leaders made no secret of their displeasure.

“This announcement surprised all of Europe,” said a clearly annoyed French President Nicolas Sarkozy, who has been scrambling to save face for Europe before he hosts leaders of the Group of 20 major world economies later this week.

“Giving the people a say is always legitimate, but the solidarity of all countries of the eurozone cannot work unless each one consents to the necessary efforts,” he said.

French lawmaker Christian Estrosi was even more direct. He told France-Info radio that the move was “totally irresponsible” and reflected “a wind of panic” blowing on Papandreou and his party.

“I want to tell the Greek government that when you are in a situation of crisis, and others want to help you, it is insulting to try to save your skin instead of assuming your responsibilities,” Estrosi said.

Sarkozy and German Chancellor Angela Merkel, who have been at the forefront of Europe’s efforts to contain national debt, talked by phone and agreed to convene emergency talks Wednesday in Cannes, France. Papandreou will also attend.

Merkel also spoke by telephone Tuesday with Papandreou, his office said.

The response was brutal in the international financial markets, especially in Europe. Greece’s general price index plunged to close down 6.92 percent, while in Germany the Dax index, the major stock market average, lost 5 percent – the equivalent of about 600 points on the Dow.

The French stock market closed down 5.4 percent, the Italian 6.7 percent and London 2.2 percent.

“Talk about your all-time bonehead moves,” said Benjamin Reitzes, an analyst at BMO Capital Markets….

While it is likely that the EU will muddle through this latest Greek crisis, I have to wonder if the EU will exist at all in five years? Or perhaps as a rump Northwest European confederation? This will not be the last debt crisis.

Our unlamented and departed Soviet adversaries used to talk about what they called “the contradictions of capitalism”. In the current crisis we are seeing the contradictions of technocratic governance as practiced by European elites. It seems that lacking the political ability to coerce Southern member states into genuinely accepting austerity programs, or alternatively spur their less developed economies to higher growth rates, the EU structure is both the raison d’etre and the obstacle to a solution.

An essentially undemocratic elite project, the EU is stymied by the residual democratic capacity of national citizenry to resist. Ordinary Greeks are not inclined to accept financial castor oil spooned by foreigners to please the international markets and I suspect the tolerance of German taxpayers for footing more than their share of the EU bills is wearing dangerously thin.

Either power will increasingly flow to the EU nations still writing the checks, making the EU even more unrepresentative, but more economically rational in political decision-making, or there will be a rush for the exit door.

ADDENDUM:

Greek Prime Minister abruptly sacks military chiefs

Is Mammon having a “secularism” crisis?

Friday, October 21st, 2011

[ by Charles Cameron — Robb’s analysis, capitalism as religion metaphor, irony, warning ]
.

church-for-sale-sm.jpg

image source — btw, contact jonesharris [at] btinternet.com if interested

.
Okay. The Church of England‘s own website, whose banner reads A Christian presence in every community, now hosts a list of, well,

closed-churches.jpg

which seems a rather unfortunate way to phrase things — but the point is, something called “secularism” is gnawing away at belief and church attendance, and I’m wondering if it may not be gnawing away at belief and bank attendance, too…

And since Mammon is the theological term for riches or material wealth personified, I’m asking, metaphorically speaking, whether Mammon is now facing its own “secularism” crisis…

Well, to be honest, I’m not the one doing the wondering, really — I’m borrowing the whole idea from the imperturbable John Robb, fighter pilot, entrepreneur and author of Brave New War, and spicing it up a bit with nice pictures of a church conversion to drive the irony of the whole thing home.

From two of Robb’s recent posts on his Global Guerrillas blog:

1.

Oct 5 JOURNAL: The Pope of the Church of Capitalism

The Chairman of the Federal Reserve is part:

Religious figure. The Pope of the Church of Capitalism. The leader of the Church. Final arbiter on the meaning of scripture (arcane economic indicators and economic papers). Is trained in ancient mysteries (economics). Has a council of Cardinals (the Fed board). He also issues indulgences (bailouts and free loans) to banks that he likes.

2.

Oct 7 OCCUPY (Insert Your City Here): Protesting Capitalism’s Crisis

What Occupy is Really About The real reason we are seeing this movement right now is because

Capitalism, the last great ideological system, is in crisis.

This isn’t merely a crisis of outcomes (economic depression, financial panic, etc.), it’s a crisis of BELIEF. While people generally believe in the idea of capitalism, a critical mass of people now think that the global capitalist system we currently have is so badly run, so corrupt, so terrible at delivering results that it needs either a) a complete overhaul or b) we need to build something new.

In short, in its tiny way, this protest may be the start of a reformation of the church of capitalism.

A splintering that may change everything…. For better or worse depending on how well you did in the old, corrupt system.

3.

So, anyway — is it time for capitalism to rid itself of the sale of indulgences?

The religious metaphor is, of course, what fascinates me.

But there’s a warning here, too, about the dangers of radically polarized populations and mobs and their heated passions, as Robb quietly implies with his “for better or worse” — are we ready to go through another (networked, and no doubt accelerated) Thirty Years War?

That is something I devoutly hope we can avoid.

Autonomy, Mastery, Purpose

Tuesday, October 18th, 2011

An research-based look at human motivation by Dan Pink:

Interestingly, the direction of corporate/billionaire driven Education Reform runs counter to most of this, being centered in strongly Taylorist ethos of micromanagement and continuous quantitative measurement, rote and synchronized usage of teaching scripts and routines, with the intention of erasing autonomy of both teachers and students. Standardized competence, set at a level of basic skills, is their systemic learning objective rather than mastery – for which they wish to charge the taxpayers a boatload of money. #EpicFail.


Switch to our mobile site