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Bye-bye by (money)

by on February 1, 2014

We changed our by-line from
“Fix money creation, separate investments, and peel back undemocratic laws”
to
“If all you know is economics, you don’t even know that!”

It’s a truism, granted. But “important” economists to forget it. Proof:

Remember: You can’t become an economist simply by reading all the books about economics. You’ll be “the worst economist in the world” (Chomsky about biology). Economics was founded by observing the real world, not vice-versa. Keep that in mind when someone tries to explain why we can no longer be decent to each other, and mankind’s collective fate hinges on whether some interest-rate thingy is moved up or down a notch!

The source for our new by-line, by the way was a film on Swiss TV called “In the banker’s head”. It featured, among others, a banker explaining he quit his job because he no longer wanted to “work at a place where he had lost all respect for his colleagues”, and another who quit because he found his clients despicable, including “how they made their money”.
Oswald Grübel stated correctly that over history bankers never were that popular. Shame they didn’t ask him how he felt they could change that!
Highlight of the show: A Swiss farmer who likes farming … and green landscapes. He could have sold his land, which was cleared for “re-zoning” from farmland to building land, for 34 million, but got very standoffish when the interviewer suggested he might be foolish.
Read our article Housing for a short explanation, in layman’s terms, why our current system of money creation leads to such perverse conditions.
===
For those who would like to delve a little deeper, and aren’t scared of technical terms such as
Chartal Theory’ (“Money is a measurement.”)
Currency School’ (“Yes!”)
and
Banking School (“As long as we get to do the measuring!”)
Check out Real-World Economics, with a paper by Prof. Dr. Joseph Huber, some interesting questions from his occasional co-author, our supporter James Robertson, not to mention extensive comments from yours truly!
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