Marxism, populism, IP & MMT
November 18, 2018 7:11 AM Subscribe
- Reading _Capital_ - "Prices confront each individual price-taker as objective facts, but --- so goes the Walrasian myth --- they are in fact the outcome of a social process, reflecting at once the possibilities of production, the social facts of initial endowments, and the purely subjective wants of everyone."
- Populism and the New Oligarchy - "Political terms, as Pierre Bourdieu insisted, should be regarded not merely as tools but as stakes in the political struggle."
- The idea of intellectual property is nonsensical and pernicious - "Property is a legally constructed, historically contingent, social fact."
- Modern Monetary Theory (MMT) Critique - "The state has essentially outsourced money creation in our financial system to private banks."
- How identity systems create financial power - "Over half of international payment flows by value are denominated in the US currency. All US dollar transactions ultimately cross the books of the US central bank, the Federal Reserve. And if you wish to route a dollar payment via a bank that doesn't have an account at the Fed, your bank needs to have an account with a US bank that does. But US banks also have to comply with rules set by the US Treasury's Office of Foreign Assets Control."
- Can China take a lesson from Estonia in using public data? - "Both China and Estonia have built digital public data systems that play a big role in everyday life. The major difference is China is exerting control and Estonia is fostering trust."
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