As David Graeber’s Debt explains in detail, the ability to force people to acquire and use the ruler’s currency has, throughout history, been a key mechanism for extracting tribute from subject populations. In today’s global economy, that is why the pricing of oil in dollars has been so important for the US.
There was a time in this country’s history when knowledge of the fundamentals of the monetary system was wide spread among the common citizens, not just Wall Street financiers and academic economists.
A few stories from a single issue of the Financial Times show how little things have changed, and how few lessons have been learned, since the 2008 financial crisis.
Ideally, we might mimic the ancient Mesopotamians, the oldest and most long-lasting civilization in history, and devise an economic system that lasts for millennia.
Like everyone else you were born into bondage, born into a prison that you cannot smell or taste or touch, a prison for your mind.
The first in a 3-part series of teleseminars on economic transformation by Marco Vangelisti.
The scale of emission reductions required to meaningfully impact Climate Change will result in economic stagnation or contraction. This will render much of the financial system non-viable, greatly exacerbating the economic problems.