Magic Economics
Economists do like to weigh in on normative issues of this kind nonetheless – and here is where, for me, they cease being potentially useful mechanics and start to become priests, magicians or quacks.
Economists do like to weigh in on normative issues of this kind nonetheless – and here is where, for me, they cease being potentially useful mechanics and start to become priests, magicians or quacks.
An enclosure is no less than right to amorality, freed from the ancient obligations of the common. It follows that our task is to evacuate enclosures and reclaim the common.
Municipalities should move quickly to enact high-end real estate transfer taxes, requirements for the disclosure of beneficial ownership, and regulations aimed at the disruptive impact absentee owner-investors are having on our cities.
The question we explored was simple: “how do we get to a new economy?” How exactly do we move forward with sophistication and seriousness to build the power necessary to take on the existing system? As Makani Themba, one of the conference’s plenary speakers put it, “It’s not just about how we build a new, parallel economy—it’s also about how we starve the beast which is the current one.”
For millions of Americans, however, the greatest threat to their day-to-day security isn’t terrorism or North Korea, Iran, Russia, or China. It’s internal — and economic.
Hence the commons, by growth, can reduce its need for interaction with the circuit of capital via the cash nexus, and incorporate more and more basic functions of life into itself. The commons are constrained by the fact that they coexist with capital and the state.
My advice for young adults everywhere is this: pick an issue you’re passionate about and volunteer. You’ll meet people who care about the same things, and more importantly, you’ll be DOING SOMETHING to make the world a better place.
These three commons legal institutions exemplifies, in different ways, a central feature of the commons as described in the previous piece: namely, decommodifying access to a common good by taking homes permanently off of the speculative market
A just recovery for Puerto Rico not only means rebuilding what Maria destroyed, but reclaiming the political and economic agency stifled by American colonialism.
Those who benefit most from the status quo spend a lot of money to persuade the rest of us that this – an economy that serves the top 1% — is good for us and, in fact, the best we can do.
This first in our series of briefing papers on building An Economy That Works explores the underlying phenomenon of ‘secular stagnation’ – a long-term decline in the rate of growth of the Gross Domestic Product (GDP).
I argue here that these fault-lines originate in real and deep differences that have emerged in Britain over decades rather than in the few years since the financial crisis.