Reposted from the C-Realm podcast a great conversation demystifyng economics and some of the myths drawn up around Adam Smith and his writings.
From the shownotes to the episode:
“KMO welcomes Michael Goodwin, author of Economix: How Our Economy Works (And Doesn’t Work) In Words and Pictures to the C-Realm to talk about money, history, the interplay between corporations and government, and Adam Smith’s actual words on the trustworthiness of capitalists. The conversation touches on the NYC soda ban, which Michael favors and KMO disdains. Michael will be the featured speaker at the third Full Circle Series event. KMO concludes with some remarks about the struggles of a small hog farmer in Michigan who is fighting against the Michigan state government, which favors corporate CAFO over the humane animal husbandry of small”
I see him there,
Bringing a stone grasped firmly by the top
In each hand, like an old-stone savage armed.
He moves in darkness as it seems to me,
Not of woods only and the shade of trees. (Robert Frost, Mending Wall)
A reader sent me a link to an item that appeared in Phi Beta Iota. You can find the graphic at http://bit.ly/1d3H3Q4. The original document appeared on 2010 at http://bit.ly/1fnOB2Y. I thought again of walls.
In late 2014, O1Business published a short item that provides more back up for the apparent slow down in some business intelligence markets. You can find that original article at http://bit.ly/1aAgA27. My take on the 01Business story by Marie Jung appeared in December 2013 at http://bit.ly/19VUqH9.
If you thought special interest money in the last election was a problem you haven't seen anything yet. Thanks to Citizens United the Koch brothers and their Rightwing friends are determined to spend what it takes to put their servants into office. This is so obvious one would think that the Supreme Court would realize the dreadful mistake they made. However, I don't think they see it as a mistake. The corruption of American democracy was what they intend! ed.
In recent days, the media has given flashy prominence to a story about top political figures in China stashing great sums offshore — the list of culprits going back many years to Deng Hsiao-ping. We are told this is corrupt and evil, so we are to be shocked and outraged, when we are told repeatedly that ordinary Chinese workers only make $30 a month.
This is black propaganda, to balance recent news that China has now surpassed America industrially. Also, it isn’t really news.
As we pointed out in our book LORDS OF THE RIM, Chinese who had money — the rich and the middle class — have been stashing it offshore for upwards of a thousand years, to keep emperors from seizing it. So nothing's new about this recent propaganda blast, except the attempt to blacken the names of current top Chinese leaders. They, or their relatives, always stashed hoards offshore. Which is how they came to control The Philippines, Taiwan, much of Indo-China, most of Siam, and large parts of what is now Indonesia and Malaysia. From these hoards emerged today's giant companies, banks, and oligarchs of the Pacific Rim, including some of the biggest Asian multinationals.
This may seem unduly wonky and esoteric, but this report has very profound geopolitical implications that may never surface in the media, but will, I assure you, surface in the meetings of corporations and the government.
This is one of the most amazing stories SR has ever published. This is what vampire capitalism has produced. Think about this: There are seven billion people on earth, 85 of them have so much wealth that it equals the collective wealth of three billion two hundred million co-inhabitants of the Earth. How can anyone think this is O.K.? How can a democracy operate in that reality, particularly after Citiz! ens' United.