Economy Related Quotes

Society does not consist of individuals, but expresses the sum of interrelations, the relations within which these individuals stand.

Institutionalized rejection of difference is an absolute necessity in a profit economy which needs outsiders as surplus people. As members of such an economy, we have all been programmed to respond to the human difference between us with fear and loathing and to handle that difference in one of three ways: ignore it, and if that is not possible, copy it if we think it is dominant, or destroy it if we think it is subordinate. But we have no patterns for relating across our human differences as equals. As a result, those differences have been misnamed and misused in the service of separation and confusion.

One of the reasons that so many people of color and poor people are in prison is that the deindustrialization of the economy has led to the creation of new economies and the expansion of some old ones – I have already mentioned the drug trade and the market for sexual services. At the same time, though, there are any number of communities that more than welcome prisons as a source of employment. Communities even compete with one another to be the site where new prisons will be constructed because prisons create a significant number of relatively good jobs for their residents

Art tends toward balance, order, judgment of relative values, the laws of growth, the economy of living – very good things for anyone to be interested in.

Business models are never inherently good or bad. Business model success is relative to the industry, to what's going on in the economy, to the specific business, to the year, and a few other things.

Every problem that we have in society has a suite of relative solutions that are also business opportunities. Agricultural waste is a problem. But solving that problem is a business opportunity. Energy inefficiency is a problem. But solving that problem is a business opportunity. The abusive treatment of animals is a problem. But solving that problem is a business opportunity. Reduced biodiversity is a problem. But solving that problem is a business opportunity. Plastic waste in the ocean is a problem. But solving that problem is a business opportunity. And the list goes on indefinitely. We just have to think creatively and fluidly and we can solve all of these problems that plague Earth and we can grow businesses and earn money and provide for our families in the process.

Investing isn’t a game - It has a substantive impact on the living of life and the development of civilization. It’s not just about stock tickers and opening bells and timing buys and sells to get a quick profit in the gap…. It effects when and where houses are built, the quality of schools, the accessibility of organic food, the price of solar relative to gasoline…. Investments direct the development of civilization.

Relative to perceived physical wants, the Stone Age economy is an economy of abundance.

One reads the truer deeper facts of Reconstruction with a great despair. It is at once so simple and human, and yet so futile. There is no villain, no idiot, no saint. There are just men; men who crave ease and power, men who know want and hunger, men who have crawled. They all dream and strive with ecstasy of fear and strain of effort, balked of hope and hate. Yet the rich world is wide enough for all, wants all, needs all. So slight a gesture, a word, might set the strife in order, not with full content, but with growing dawn of fulfillment. Instead roars the crash of hell...

Political economy tends to see work in capitalist societies as divided between two spheres: wage labor, for which the paradigm is always factories, and domestic labor – housework, childcare – relegated mainly to women. The first is seen primarily as a matter of creating and maintaining physical objects. The second is probably best seen as a matter of creating and maintaining people and social relations. [...] This makes it easier to see the two as fundamentally different sorts of activity, making it hard for us to recognize interpretive labor, for example, or most of what we usually think of as women’s work, as labor at all. To my mind it would probably be better to recognize it as the primary form of labor. Insofar as a clear distinction can be made here, it’s the care, energy, and labor directed at human beings that should be considered fundamental. The things we care most about – our loves, passions, rivalries, obsessions – are always other people; and in most societies that are not capitalist, it’s taken for granted that the manufacture of material goods is a subordinate moment in a larger process of fashioning people. In fact, I would argue that one of the most alienating aspects of capitalism is the fact that it forces us to pretend that it is the other way around, and that societies exist primarily to increase their output of things.

..begin by talking about the kind of existentialist chaos that exists in our own lives and our inability to overcome the sense of alienation and frustration we experience when we try to create bonds of intimacy and solidarity with one another. Now part of this frustration is to be understood again in relation to structures and institutions. In the way in which our culture of consumption has promoted an addiction to stimulation - one that puts a premium on packaged and commodified stimulation. The market does this to convince us that our consumption keeps oiling the economy for it to reproduce itself. But the effect of this addiction to stimulation is an undermining, a waning of our ability for qualitatively rich relationships.

In the social production of their existence, men inevitably enter into definite relations, which are independent of their will, namely relations of production appropriate to a given stage in the development of their material forces of production. The totality of these relations of production constitutes the economic structure of society, the real foundation, on which arises a legal and political superstructure and to which correspond definite forms of social consciousness. The mode of production of material life conditions the general process of social, political and intellectual life. It is not the consciousness of men that determines their existence, but their social existence that determines their consciousness. At a certain stage of development, the material productive forces of society come into conflict with the existing relations of production or – this merely expresses the same thing in legal terms – with the property relations within the framework of which they have operated hitherto. From forms of development of the productive forces these relations turn into their fetters. Then begins an era of social revolution. The changes in the economic foundation lead sooner or later to the transformation of the whole immense superstructure.

Hitherto men have always formed wrong ideas about themselves, about what they are and what they ought to be. They have arranged their relations according to their ideas of God, of normal man, etc. The products of their brains have got out of their hands. They, the creators, have bowed down before their creations.

A propaganda model has a certain initial plausibility on guided free-market assumptions that are not particularly controversial. In essence, the private media are major corporations selling a product (readers and audiences) to other businesses (advertisers). The national media typically target and serve elite opinion, groups that, on the one hand, provide an optimal “profile” for advertising purposes, and, on the other, play a role in decision-making in the private and public spheres. The national media would be failing to meet their elite audience’s needs if they did not present a tolerably realistic portrayal of the world. But their “societal purpose” also requires that the media’s interpretation of the world reflect the interests and concerns of the sellers, the buyers, and the governmental and private institutions dominated by these groups.

The economy has gotten bigger, the ecosystem has not. How big has the economy become relative to the ecosystem?

within the capitalist system all methods for raising the social productiveness of labour are brought about at the cost of the individual labourer; all means for the development of production transform themselves into means of domination over, and exploitation of, the producers; they mutilate the labourer into a fragment of a man, degrade him to the level of an appendage of a machine, destroy every remnant of charm in his work and turn it into a hated toil; they estrange from him the intellectual potentialities of the labour process in the same proportion as science is incorporated in it as an independent power; they distort the conditions under which he works, subject him during the labour process to a despotism the more hateful for its meanness; they transform his life-time into working-time, and drag his wife and child beneath the wheels of the Juggernaut of capital. But all methods for the production of surplus-value are at the same time methods of accumulation; and every extension of accumulation becomes again a means for the development of those methods. It follows therefore that in proportion as capital accumulates, the lot of the labourer, be his payment high or low, must grow worse. The law, finally, that always equilibrates the relative surplus population, or industrial reserve army, to the extent and energy of accumulation, this law rivets the labourer to capital more firmly than the wedges of Vulcan did Prometheus to the rock. It establishes an accumulation of misery, corresponding with accumulation of capital. Accumulation of wealth at one pole is, therefore, at the same time accumulation of misery, agony of toil slavery, ignorance, brutality, mental degradation, at the opposite pole, i.e., on the side of the class that produces its own product in the form of capital.

a free economy is an economy run by free beings. And free beings are responsible beings. Economic transactions in a regime of private property depend not only on distinguishing mine from yours, but also on relating me to you. Without accountability, nobody is to be trusted, and without trust the virtues that are attributed to the free economy would not arise. Every

One has to 'leave philosophy aside,' one has to leap out of it and devote oneself like an ordinary man to the study of actuality . . . Philosophy and the study of the actual world have the same relation to one another as masturbation and sexual love.

It's interesting that economy and ecosystem share a root prefix — eco; which is defined as relating to ecology. And ecology is defined as dealing with the relations of organisms to one another and to their surroundings. Swap out the word organisms for the word businesses and you can see how economies and ecosystems have a lot in common.

The culture and ideology fostered in this globalization process relate largely to “lifestyle” themes and goods and their acquisition; and they tend to weaken any sense of community helpful to civic life.

Associated with this weight gain are increased risks in adulthood for joint problems, angina, high blood pressure, heart attacks, strokes, type 2 diabetes and, ultimately, premature death. Outside of the human costs, health experts estimate that treating adult obesity-related ailments will cost the American economy nearly $150 billion in 2009.

(4) Modern capitalism is, and the ancient Roman economy was not, organized in a way that made it potentially rewarding to invest capital in technological development. (5) The strong individualism of U.S. society allows successful inventors to keep earnings for themselves, whereas strong family ties in New Guinea ensure that someone who begins to earn money will be joined by a dozen relatives expecting to move in and be fed and supported.

Beauty” is a currency system like the gold standard. Like any economy, it is determined by politics, and in the modern age in the West it is the last, best belief system that keeps male dominance intact. In assigning value to women in a vertical hierarchy according to a culturally imposed physical standard, it is an expression of power relations in which women must unnaturally compete for resources that men have appropriated for themselves.

When we are talking about cash flow - once again, nature is a great teacher. Cash is simply the base resource with which most activities predicate. In nature, cash is symbolized by water. Rarely is anything in nature ever lacking water. Even in the deserts, the life forms that live and grow there have figured out ‘cash flow’ or ‘water flow’…. They’ve figured out how to manage the flow of water relative to the tasks and objectives which require its use. If a cactus in the desert can figure out how to manage the flow of water relative to the tasks and objectives which require its use… then we can figure out how to manage the flow of cash relative to the tasks and objectives which require its use. If nature can invest wisely, so can we.

The erotic economy of homosexual relations continues to be traced for our culture in the enduring equation of homosexuality with male homosexuality, of male homosexuality with sodomy, and of sodomy with anal intercourse, and, in particular, with the so-called “passive” or receptive position in anal intercourse.

But the punishment-body relation is not the same as it was in the torture during public executions. The body now serves as an instrument or intermediary: if one intervenes upon it to imprison it, or to make it work, it is in order to deprive the individual of a liberty that is regarded both as a right and as property. The body, according to this penality, is caught up in a system of constraints and privations, obligations and prohibitions. Physical pain, the pain of the body itself, is no longer the constituent element of the penalty. From being an art of unbearable sensations punishment has become an economy of suspended rights.

. . . 'science' was now called on to sanction and sanctify existing social relations. According to Malthus, it was wholly desirable that political economy be 'taught to the common people.' Thanks to it, the poor would understand that they must attribute the cause of their privations to Mother Nature or their own improvidence.

But just exactly what is the “good” to which we aspire through doing and eating things that are supposed to be good for us? This question is strictly taboo, for if it were seriously investigated the whole economy and social order would fall apart and have to be reorganized. It would be like the donkey finding out that the carrot dangled before him, to make him run, is hitched by a stick to his own collar. For the good to which we aspire exists only and always in the future. Because we cannot relate to the sensuous and material present we are most happy when good things are expected to happen, not when they are happening. We get such a kick out of looking forward to pleasures and rushing ahead to meet them that we can’t slow down enough to enjoy them when they come. We are therefore a civilization which suffers from chronic disappointment—a formidable swarm of spoiled children smashing their toys.

In this fast-paced digitally connected world, your competitor is only a WhatsApp message away. Be reachable by every medium possible

Community is not something you have, like pizza. Now is it something you can buy. It's a living organism based on a web of interdependencies- which is to say, a local economy. It expresses itself physically as connectedness, as buildings actively relating to each other, and to whatever public space exists, be it the street, or the courthouse or the village green.

Structural factors are those such as ownership and control, dependence on other major funding sources (notably, advertisers), and mutual interests and relationships between the media and those who make the news and have the power to define it and explain what it means. The propaganda model also incorporates other closely related factors such as the ability to complain about the media’s treatment of news (that is, produce “flak”), to provide “experts” to confirm the official slant on the news, and to fix the basic principles and ideologies that are taken for granted by media personnel and the elite, but are often resisted by the general population.1 In our view, the same underlying power sources that own the media and fund them as advertisers, that serve as primary definers of the news, and that produce flak and proper-thinking experts, also play a key role in fixing basic principles and the dominant ideologies. We believe that what journalists do, what they see as newsworthy, and what they take for granted as premises of their work are frequently well explained by the incentives, pressures, and constraints incorporated into such a structural analysis. These structural factors that dominate media operations are not allcontrolling and do not always produce simple and homogeneous results.

I looked over at my neighbor, the song sparrow, and thought about how just a few years ago, I wouldn’t have known its name, might not have even known it was a sparrow, might not have even seen it at all. How lonely that world seemed in comparison to this one! But the sparrow and I were no longer strangers. It was no stretch of the imagination, nor even of science, to think that we were related. We were both from the same place (Earth), made of the same stuff. And most important, we were both alive.

manufacturing false hierarchies based on race and gender in order to enforce a brutal class system is a very long story. Our modern capitalist economy was born thanks to two very large subsidies: stolen Indigenous land ​and stolen African people. Both required the creation of intellectual theories that ranked the relative value of human lives and labor, placing white men at the top. These church and state–sanctioned theories of white (and Christian) supremacy are what allowed Indigenous civilizations to be actively “unseen” by European explorers—visually perceived and yet not acknowledged to have preexisting rights to the land—and entire richly populated continents to be legally classified as unoccupied and therefore fair game on an absurd “finders keepers” basis.

The Rhineland cities were developing the market economy that would eventually replace agrarian civilization; they were therefore in the very early stages of modernization, a transition that always strains social relations.

The interpenetration of pre-capitalist, semi-capitalist and capitalist relations of production, imposed upon colonies and semi-colonies by the power of capital on the world market and the violence of foreign political and military domination, has been an extremely important factor in the historical development of these twin sources of money capital accumulation.

Community is not something you have, like pizza. Nor is it something you can buy. It's a living organism based on a web of interdependencies- which is to say, a local economy. It expresses itself physically as connectedness, as buildings actively relating to each other, and to whatever public space exists, be it the street, or the courthouse or the village green.

Often the idea of survival is mentioned in relation to capitalism, as in the phrase ‘economic survival’ or the thought ‘I need to earn money to survive.’ However, in our endeavour we hoped to sever survival from economy, striving for a purer form of modernized surviving. Our fight would be a fight for survival and the fighting itself would be our life, not in the sense of employment but in the sense of a full reality with all of the inherent risk, complexity and completion that living implies.

Something is broken when the food comes on a Styrofoam tray wrapped in slippery plastic, a carcass of a being whose only chance at life was a cramped cage. That is not a gift of life; it is a theft. How, in our modern world, can we find our way to understand the earth as a gift again, to make our relations with the world sacred again? I know we cannot all become hunter-gatherers—the living world could not bear our weight—but even in a market economy, can we behave “as if ” the living world were a gift? We could start by listening to Wally. There are those who will try to sell the gifts, but, as Wally says of sweetgrass for sale, “Don’t buy it.” Refusal to participate is a moral choice. Water is a gift for all, not meant to be bought and sold. Don’t buy it. When food has been wrenched from the earth, depleting the soil and poisoning our relatives in the name of higher yields, don’t buy it.

after the abolition of capitalism, there will be ‘constant relative over-production’ of equipment, raw materials and foodstuffs. ‘Over-production of this kind’, he says, ‘is equivalent to control by the society over the objective means of its own reproduction.

working day of this kind, which is formed by the succession of more or less numerous interrelated working days, I call a working period. If we speak of the working day, then we mean the length of time for which the worker must daily expend his labour-power, must work. If we speak of the working period, on the other hand, this means the number of inter-related working days that are required, in a

Whether we are considering a toothache, a tumor, a relational bind, a technical problem, crime, or the economy, most individuals and most social systems, irrespective of their culture, gender, or ethnic background, will “naturally” choose or revert to chronic conditions of bearable pain rather than face the temporarily more intense anguish of acute conditions that are the gateway to becoming free.

For the correct Marxist classification of the proletariat-the class which is forced by socio-economic compulsion to sell its labour-power to the capitalist owners of the means of production – implies that both variations in the level of the reserve army of labour, and the variegated relations between the ‘purely physiological’ and ‘moral-historical’ components of the value of labour-power,63 are of decisive importance for the proletarian’s immediate destiny.

Actually, if “underdevelopment” were related to anything other than comparing economies, then the most underdeveloped country in the world would be the United States, which practices external oppression on a massive scale, while internally there is a blend of exploitation, brutality, and psychiatric disorder.

Principles of Liberty 1. The only reliable basis for sound government and just human relations is Natural Law. 2. A free people cannot survive under a republican constitution unless they remain virtuous and morally strong. 3. The most promising method of securing a virtuous and morally strong people is to elect virtuous leaders. 4. Without religion the government of a free people cannot be maintained. 5. All things were created by God, therefore upon him all mankind are equally dependent, and to Him they are equally responsible. 6. All men are created equal. 7. The proper role of government is to protect equal rights, not provide equal things. 8. Men are endowed by their Creator with certain unalienable rights. 9. To protect man's rights, God has revealed certain principles of divine law. 10. The God-given right to govern is vested in the sovereign authority of the whole people. 11. The majority of the people may alter or abolish a government which has become tyrannical. 12. The United States of America shall be a republic. 13. A constitution should be structured to permanently protect the people from the human frailties of their rulers. 14. Life and Liberty are secure only so long as the Igor of property is secure. 15. The highest level of securitiy occurs when there is a free market economy and a minimum of government regulations. 16. The government should be separated into three branches: legislative, executive, and judicial. 17. A system of checks and balances should be adopted to prevent the abuse of power. 18. The unalienable rights of the people are most likely to be preserved if the principles of government are set forth in a written constitution. 19. Only limited and carefully defined powers should be delegated to the government, all others being retained by the people. 20. Efficiency and dispatch require government to operate according to the will of the majority, but constitutional provisions must be made to protect the rights of the minority. 21. Strong human government is the keystone to preserving human freedom. 22. A free people should be governed by law and not by the whims of men. 23. A free society cannot survive a republic without a broad program of general education. 24. A free people will not survive unless they stay strong. 25. "Peace, commerce, and honest friendship with all nations; entangling alliances with none." 26. The core unit which determines the strength of any society is the family; therefore, the government should foster and protect its integrity. 27. The burden of debt is as destructive to freedom as subjugation by conquest. 28. The United States has a manifest destiny to be an example and a blessing to the entire human race.

The additional purchasing power which has to be sucked into the process of capitalist circulation can only come from outside capitalist relations of production properly called, through forcing non-capitalist social classes (essentially peasants and pre-capitalist landowners) ruinously to spend their revenue on capitalist commodities.

Thus, seeking to produce a typology of forms of the art of government, La Mothe Le Vayer, in a text from the following century (consisting of educational writings intended for the French Dauphin), says that there are three fundamental types of government, each of which relates to a particular science or discipline: the art of self-government, connected with morality; the art of properly governing a family, which belongs to economy; and finally the science of ruling the state, which concerns politics. What matters, notwithstanding this typology, is that the art of government is always characterized by the essential continuity of one type with the other, and of second type with the third.

Ungratified sexuality is readily transformed into rage. "Prison explosions" are outbreaks of sadism resulting from the absence of sexual gratification. Hence, when 33,000 workers leave their employment site all at once precisely in spring, there can be no doubt that the unsatisfying sex-economic conditions in the Soviet Union are the cause. By "sex-economic conditions" we mean more than just the possibility of a regulated and satisfying love life; over and above this we mean everything that is related to pleasure and the joy of life in one's work.

The relationship between any two communities in the global economy is not unlike a marriage. As couples counselors advise, relationships falter when two partners are too interdependent. When any stress affecting one partner - the loss of a job, an illness, a bad-hair day - brings down the other, the couple suffers. A much healthier relationship is grounded in the relative strength of each partner, who each should have his or her own interests, hobbies, friends, and professional identity, so that when anything goes wrong, the couple can support one another from a position of strength. Our ability to love, like our ability to produce, must be grounded in our own security. And our economy, like our love, when it comes from a place of community, can grow without limit.

In symbolic exchange, of which the gift is our most proximate illustration, the object is not an object: it is inseparable from the concrete relation in which it is exchanged, the transferential pact that it seals between two persons: it is thus not independent as such. It has, properly speaking, neither use value nor (economic) exchange value. The object given has symbolic exchange value.

The culturalization of politics analytically vanquishes political economy, states, history, and international and transnational relations. It eliminates colonialism, capital, caste or class stratification, and external political domination from accounts of political conflict or instability. In their stead, “culture” is summoned to explain the motives and aspirations leading to certain conflicts

Or how does it happen that trade, which after all is nothing more than the exchange of products of various individuals and countries, rules the whole world through the relation of supply and demand—a relation which, as an English economist says, hovers over the earth like the fate of the ancients, and with invisible hand allots fortune and misfortune to men, sets up empires and overthrows empires, causes nations to rise and to disappear—while with the abolition of the basis of private property, with the communistic regulation of production (and implicit in this, the destruction of the alien relation between men and what they themselves produce), the power of the relation of supply and demand is dissolved into nothing, and men get exchange, production, the mode of their mutual relation, under their own control again?

In other words, in 1919 relatively few people could become disenchanted with liberal modernity because only a tiny minority had enjoyed the opportunity to become enchanted with it in the first place. Since then, however, billions more people have been exposed to the promises of individual freedom in a global neo-liberal economy that imposes constant improvisation and adjustment – and just as rapid obsolescence.

Everybody looks at oil and almost entirely forget that the percentage of jobs the oil sector creates is relatively small compared to the population; the introduction of more sophisticated exploration methods makes it even worse. Oil companies now look for smarter, leaner and cheaper operations. Where will these leave the economy? Good disposable income to the government with no real value to the people of the Niger Delta.

His OFELLUS in the Art of Living in London, I have heard him relate, was an Irish painter, whom he knew at Birmingham, and who had practiced his own precepts of economy for several years in the British capital. He assured Johnson, who, I suppose, was then meditating to try his fortune in London, but was apprehensive of the expence, 'that thirty pounds a year was enough to enable a man to live there without being contemptible. He allowed ten pounds for cloaths and linen. He said a man might live in a garret at eighteen-pence a week; few people would inquire where he lodged; and if they did, it was easy to say, "Sir, I am to be found at such a place." By spending three-pence in a coffee-house, he might be for some hours every day in very good company; he might dine for six-pence, breakfast on bread and milk for a penny, and do without supper. On clean-shirt day he went abroad, and paid visits.

Vulgar economy actually does no more than interpret, systematise and defend in doctrinaire fashion the conceptions of the agents of bourgeois production who are entrapped in bourgeois production relations. It should not astonish us, then, that vulgar economy feels particularly at home in the estranged outward appearances of economic relations in which these prima facie absurd and perfect contradictions appear and that these relations seem the more self-evident the more their internal relationships are concealed from it, although they are understandable to the popular mind. But all science would be superfluous if the outward appearance and the essence of things directly coincided.

Substitution competition is a natural limit or control on prices. In a permaculture economy, every useful product or service in a market coexists with a variety of substitutes. There is a point to which monopolies become uneconomical/ unprofitable. Almost every product or service, or their inputs, may be used for a variety of purposes by a variety of consumers, If the price (a) causes there to be more or less consumption of (b) then a and b are substitutes. Substitution competition eventually causes monopolies to shrink or fail , or creates new market space which renders the previous monopoly relatively smaller in size and therefore not a monopoly in the context of the expanded economy

The sum of productive forces, capital funds and social forms of intercourse, which every individual and generation finds in existence as something given, is the real basis of what the philosophers have conceived as "substance" and "essence of man," and what they have deified and attacked: a real basis which is not in the least disturbed, in its effect and influence on the development of men, by the fact that these philosophers revolt against it as "self-consciousness" and the "Unique.

Darwin has interested us in the history of Nature’s Technology, i.e., in the formation of the organs of plants and animals, which organs serve as instruments of production for sustaining life. Does not the history of the productive organs of man, of organs that are the material basis of all social organisation, deserve equal attention? And would not such a history be easier to compile, since, as Vico says, human history differs from natural history in this, that we have made the former, but not the latter? Technology discloses man’s mode of dealing with Nature, the process of production by which he sustains his life, and thereby also lays bare the mode of formation of his social relations, and of the mental conceptions that flow from them. Every history of religion, even, that fails to take account of this material basis, is uncritical. It is, in reality, much easier to discover by analysis the earthly core of the misty creations of religion, than, conversely, it is, to develop from the actual relations of life the corresponding celestialised forms of those relations. The latter method is the only materialistic, and therefore the only scientific one. The weak points in the abstract materialism of natural science, a materialism that excludes history and its process, are at once evident from the abstract and ideological conceptions of its spokesmen, whenever they venture beyond the bounds of their own speciality. [Chapter Fifteen: Machinery and Modern Industry; Footnote 4]

As if to demonstrate the possibilities of socialism, the People's Republic of China not only survived but is prospering just when the productive decrepitude of capitalism is more apparent than ever, its imperial offer unable to obtain submission and its military power unable to compel it, only to rain destruction on societies that are the targets - such as Afghanistan, Iraq or Syria - or proxies - such as Ukraine today - in vain efforts to do so. Against this background, Chinese and other persisting socialisms demonstrate to increasingly interested publics worldwide, particularly amid the pandemic and the war, that there are saner ways to organise society, material production, politics and culture as well as a society's relations with nature and other societies.

Music can be appreciated from several points of view: the listener, the performer, the composer. In mathematics there is nothing analogous to the listener; and even if there were, it would be the composer, rather than the performer, that would interest him. It is the creation of new mathematics, rather than its mundane practice, that is interesting. Mathematics is not about symbols and calculations. These are just tools of the tradequavers and crotchets and five-finger exercises. Mathematics is about ideas. In particular it is about the way that different ideas relate to each other. If certain information is known, what else must necessarily follow? The aim of mathematics is to understand such questions by stripping away the inessentials and penetrating to the core of the problem. It is not just a question of getting the right answer; more a matter of understanding why an answer is possible at all, and why it takes the form that it does. Good mathematics has an air of economy and an element of surprise. But, above all, it has significance.

Some heterodox economists today argue that growth will fall if finance becomes too big relative to the rest of the economy (industry) because real profits come from the production of new goods and services rather than from simple transfers of money earned from those goods and services.40 To ‘rebalance’ the economy, the argument runs, we must allow genuine profits from production to win over rents–which, as we can see here, is exactly the argument Ricardo made 200 years ago, and John Maynard Keynes was to make 100 years later.41

I know the South claims that it has spent millions for the education of the blacks, and that it has of its own free will shouldered this awful burden. It seems to be forgetful of the fact that these millions have been taken from the public tax funds for education, and that the law of political economy which recognizes the land owner as the one who really pays the taxes is not tenable. It would be just as reasonable for the relatively few land owners of Manhattan to complain that they had to stand the financial burden of the education of the thousands and thousands of children whose parents pay rent for tenements and flats. Let the millions of producing and consuming Negroes be taken out of the South, and it would be quickly seen how much less of public funds there would be to appropriate for education or any other purpose.

Many of the issues that motivated Obama—growing the American economy, combating climate change, forging new rules to govern trade and commerce among nations—depended upon cooperation in Asia. While the Middle East represented the past—its religious wars, American-backed autocrats, Iranian revolutionaries, terrorist threats—Asia seemed to represent the future. It helped that the people and governments in Asia wanted to deepen relations with “the United States, in part because of their concerns about the largest emerging power in their neighborhood: China

I have previously reduced the whole science of logic to two facts. The first is that our perceptions being every thing for us, we are perfectly, completely, and necessarily sure of whatever we actually feel. The second is that consequently none of our judgments, separately taken, can be erroneous: inasmuch as we see one idea in another it is actually there; but their falsity, when it takes place, is purely relative to anterior judgments, which we permit to subsist; and it consists in this, that we believe the idea in which we perceive a new element to be the same as that we have always had under the same sign, when it is really different, since the new element which we actually see there is incompatible with some of those which we have previously seen; so that to avoid contradiction we must either take away the former or not admit the latter.

The country was passing through turbulent times. British Raj was on its last legs. The World War had sucked the juice out of the British economy. Britain neither had the resources nor the will to hold on to a country the size of India. Sensing the British weakness and lack of resources to rule, different leagues of Indians sniffed different destinies in the air following the imminent exit of the British: a long stretch of Nehru Raj, Hindu Raj extending from Kashmir to Kerala not seen since Emperor Ashoka in third-century BCE before the emperor himself renounced Hinduism and turned a non-violent Buddhist, a Muslim-majority state carved out of two shoulders of India with a necklace-like corridor running through her bosom along Grand Trunk Road, balkanisation of the country with princes ruling the roost, and total chaos. From August 1946 onwards, chaos appeared to be the most likely destiny as it spurted in Bengal, Bihar, and United Provinces, ending in the carnage of minority communities at every place. The predicament of British government was how to cut their losses and run without many British casualties before the inevitable chaos spread to the whole country. The predicament of Muhammad Ali Jinnah, the leader of the Muslim League, was how to achieve his dream of Muslim-majority Pakistan carved out of India before his imminent demise from tuberculosis he suffered from, about which—apart from his doctor—only a handful of his closest relations and friends knew about. The predicament of Jawaharlal Nehru, the heir apparent of the Congress Party anointed by Gandhiji, was how to attain independence of the country followed by Nehru Raj while Gandhiji, a frail 77-year-old at the time, was still alive, for God only knew who would be the leader of the party once Gandhiji’s soul and his moral authority were dispatched to heaven, and Nehru couldn’t possibly leave the crucial decision in the hands of a God he didn’t particularly believe in. Time was of the essence to all the three.

Consumer debt is the lifeblood of our economy. All modern nation-states are built on deficit spending. Debt has come to be the central issue of international politics. But nobody seems to know exactly what it is, or how to think about it. The very fact that we don't know what debt is, the very flexibility of the concept, is the basis of its power. If history shows anything, it is that there's no better way to justify relations founded on violence, to make such relations seem moral, than by reframing them in the language of debt- above all, because it immediately makes it seem that it's the victim who's doing something wrong. Mafiosi understand this. So do the commanders of conquering armies. For thousands of years, violent men have been able to tell their victims that these victims owe them something. If nothing else, they "owe them their lives" (a telling phrase) because they haven't been killed.

Today, with the defeat of [the Equal Rights Amendment], the tightening economy, and increased conservatism, it is easier once again for white women to believe the dangerous fantasy that if you are good enough, pretty enough, sweet enough, quiet enough, teach the children to behave, hate the right people, and marry the right men, then you will be allowed to co-exist with patriarchy in relative peace, at least until a man needs your job or the neighborhood rapist happens along. And true, unless one lives and loves in the trenches it is difficult to remember that the war against dehumanization is ceaseless.

While making money was good, having meaningful work and meaningful relationships was far better. To me, meaningful work is being on a mission I become engrossed in, and meaningful relationships are those I have with people I care deeply about and who care deeply about me. Think about it: It’s senseless to have making money as your goal as money has no intrinsic value—its value comes from what it can buy, and it can’t buy everything. It’s smarter to start with what you really want, which are your real goals, and then work back to what you need to attain them. Money will be one of the things you need, but it’s not the only one and certainly not the most important one once you get past having the amount you need to get what you really want. When thinking about the things you really want, it pays to think of their relative values so you weigh them properly. In my case, I wanted meaningful work and meaningful relationships equally, and I valued money less—as long as I had enough to take care of my basic needs. In thinking about the relative importance of great relationships and money, it was clear that relationships were more important because there is no amount of money I would take in exchange for a meaningful relationship, because there is nothing I could buy with that money that would be more valuable. So, for me, meaningful work and meaningful relationships were and still are my primary goals and everything I did was for them. Making money was an incidental consequence of that. In the late 1970s, I began sending my observations about the markets to clients via telex. The genesis of these Daily Observations (“ Grains and Oilseeds,” “Livestock and Meats,” “Economy and Financial Markets”) was pretty simple: While our primary business was in managing risk exposures, our clients also called to pick my brain about the markets. Taking those calls became time-consuming, so I decided it would be more efficient to write down my thoughts every day so others could understand my logic and help improve it. It was a good discipline since it forced me to research and reflect every day. It also became a key channel of communication for our business. Today, almost forty years and ten thousand publications later, our Daily Observations are read, reflected on, and argued about by clients and policymakers around the world. I’m still writing them, along with others at Bridgewater, and expect to continue to write them until people don’t care to read them or I die.

Less than a decade after the explosion of the first atom bomb the megamachine had expanded to a point where it began to dominate key areas of the whole economy of the United States: its system of control reached beyond the airfields, the rocket sites, the bomb factories, the universities, to a hundred other related areas, tying the once separate and independent enterprises to a central organization whose irrational and humanly subversive policies ensured the still further expansion of the megamachine. Financial subventions, research grants, educational subsidies, all worked unceasingly for the 'Life, Prosperity, Health' of the new rulers, headed by Goliaths in brass armor bellowing threats of defiance and destruction at the entire world. In a short time, the original military-industrial-scientific elite became the supreme Pentagon of Power, for it incorporated likewise both the bureaucratic and the educational establishments.

Ricardo's theory is absolutely right-within its narrow confines. His theory correctly says that, accepting their current levels of technology as given, it is better for countries to specialize in things that they are relatively better at. One cannot argue with that. His theory fails when a country wants to acquire more advanced technologies so that it can do more difficult things that few others can do- that is, when it wants to develop its economy. It takes time and experience to absorb new technologies, so technologically backward producers need a period of protection from international competition during this period of learning. Such protection is costly, because the country is giving up the chance to import better and cheaper products. However, it is a price that has to be paid if it wants to develop advanced industries. Ricardo's theory is, thus seen, for those who accept the status quo but not for those who want to change it.

We shall best understand the probable course of natural selection by taking the case of a country undergoing some physical change, for instance, of climate. The proportional numbers of its inhabitants would almost immediately undergo a change, and some species might become extinct. We may conclude, from what we have seen of the intimate and complex manner in which the inhabitants of each country are bound together, that any change in the numerical proportions of some of the inhabitants, independently of the change of climate itself, would most seriously affect many of the others. If the country were open on its borders, new forms would certainly immigrate, and this also would seriously disturb the relations of some of the former inhabitants. Let it be remembered how powerful the influence of a single introduced tree or mammal has been shown to be. But in the case of an island, or of a country partly surrounded by barriers, into which new and better adapted forms could not freely enter, we should then have places in the economy of nature which would assuredly be better filled up, if some of the original inhabitants were in some manner modified; for, had the area been open to immigration, these same places would have been seized on by intruders. In such case, every slight modification, which in the course of ages chanced to arise, and which in any way favoured the individuals of any of the species, by better adapting them to their altered conditions, would tend to be preserved; and natural selection would thus have free scope for the work of improvement.

No one is alone in this world. No act is without consequences for others. It is a tenet of chaos theory that, in dynamical systems, the outcome of any process is sensitive to its starting point-or, in the famous cliche, the flap of a butterfly's wings in the Amazon can cause a tornado in Texas. I do not assert markets are chaotic, though my fractal geometry is one of the primary mathematical tools of "chaology." But clearly, the global economy is an unfathomably complicated machine. To all the complexity of the physical world of weather, crops, ores, and factories, you add the psychological complexity of men acting on their fleeting expectations of what may or may not happen-sheer phantasms. Companies and stock prices, trade flows and currency rates, crop yields and commodity futures-all are inter-related to one degree or another, in ways we have barely begun to understand. In such a world, it is common sense that events in the distant past continue to echo in the present.

The history of black workers in the United States illustrates the point. As already noted, from the late nineteenth-century on through the middle of the twentieth century, the labor force participation rate of American blacks was slightly higher than that of American whites. In other words, blacks were just as employable at the wages they received as whites were at their very different wages. The minimum wage law changed that. Before federal minimum wage laws were instituted in the 1930s, the black unemployment rate was slightly lower than the white unemployment rate in 1930. But then followed the Davis-Bacon Act of 1931, the National Industrial Recovery Act of 1933 and the Fair Labor Standards Act of 1938—all of which imposed government-mandated minimum wages, either on a particular sector or more broadly. The National Labor Relations Act of 1935, which promoted unionization, also tended to price black workers out of jobs, in addition to union rules that kept blacks from jobs by barring them from union membership. The National Industrial Recovery Act raised wage rates in the Southern textile industry by 70 percent in just five months and its impact nationwide was estimated to have cost blacks half a million jobs. While this Act was later declared unconstitutional by the Supreme Court, the Fair Labor Standards Act of 1938 was upheld by the High Court and became the major force establishing a national minimum wage. As already noted, the inflation of the 1940s largely nullified the effect of the Fair Labor Standards Act, until it was amended in 1950 to raise minimum wages to a level that would have some actual effect on current wages. By 1954, black unemployment rates were double those of whites and have continued to be at that level or higher. Those particularly hard hit by the resulting unemployment have been black teenage males. Even though 1949—the year before a series of minimum wage escalations began—was a recession year, black teenage male unemployment that year was lower than it was to be at any time during the later boom years of the 1960s. The wide gap between the unemployment rates of black and white teenagers dates from the escalation of the minimum wage and the spread of its coverage in the 1950s. The usual explanations of high unemployment among black teenagers—inexperience, less education, lack of skills, racism—cannot explain their rising unemployment, since all these things were worse during the earlier period when black teenage unemployment was much lower. Taking the more normal year of 1948 as a basis for comparison, black male teenage unemployment then was less than half of what it would be at any time during the decade of the 1960s and less than one-third of what it would be in the 1970s. Unemployment among 16 and 17-year-old black males was no higher than among white males of the same age in 1948. It was only after a series of minimum wage escalations began that black male teenage unemployment not only skyrocketed but became more than double the unemployment rates among white male teenagers. In the early twenty-first century, the unemployment rate for black teenagers exceeded 30 percent. After the American economy turned down in the wake of the housing and financial crises, unemployment among black teenagers reached 40 percent.

From the very beginning of its history, the manifold social evils of capitalism have given rise to oppositional movements. The one I am concerned with in this book is cooperativism, specifically worker cooperativism. There are many other kinds of cooperatives, including those in the credit, agriculture, housing, insurance, health, and retail sectors of the economy. But worker cooperativism is potentially the most “oppositional” form, the most anti-capitalist, since it organizes production in anti-capitalist ways. Indeed, the relations of production that constitute worker cooperativism also define socialism in its most general sense: workers’ democratic control over production and, in some varieties, ownership of the means of production (whether such ownership is organized individually, by owning shares of equity, or collectively). As one common formulation states, in the worker co-op, labor has power over capital, or “labor hires capital.” In the conventional business, by contrast, capital has power over labor, i.e., “capital hires labor.” None of the other kinds of cooperativism directly rejects these capitalist power-relations, although some may signify an implicit undermining of capitalism insofar as the co-op exists not primarily for the sake of maximizing profit but for satisfying some social need.

Norton and his colleagues would call the psychology behind DiAngelo’s mother’s warnings “last place aversion.” In a hierarchical system like the American economy, people often show more concern about their relative position in the hierarchy than their absolute status. Norton and his colleagues used games where they gave participants the option to give money to either people who had more money than they had, or those who had less. In general, people gave money to those who had less—except for people who were in the second-to-last place in the money distribution to begin with. These players more often gave their money to the people above them in the distribution so that they wouldn’t fall into last place themselves. The study authors also looked at real-world behaviors and found that lower-income people are less supportive of redistributive policies that would help them than logic would suggest. Even though raising the minimum wage is overwhelmingly popular, people who make a dollar above the current minimum “and thus those most likely to ‘drop’ into last place” alongside the workers at the bottom expressed less support. “Last-place aversion suggests that low-income individuals might oppose redistribution because they fear it might differentially help a last-place group to whom they can currently feel superior,” the study authors wrote.

The hypothesis advanced by the propaganda model, excluded from debate as unthinkable, is that in dealing with the American wars in Indochina, the media were "unmindful", but highly "patriotic" in the special and misleading sense that they kept -- and keep -- closely to the perspective of official Washington and the closely related corporate elite, in conformity to the general "journalistic-literary-political culture" from which "the left" (meaning dissident opinion that questions jingoist assumptions) is virtually excluded. The propaganda model predicts that this should be generally true not only of the choice of topics covered and the way they are covered, but also, and far more crucially, of the general background of the presuppositions within which the issues are framed and the news presented. Insofar as there is debate among dominant elites, it will be reflected within the media, which in this narrow sense, may adopt an "adversarial stance" with regard to those holding office, reflecting elite dissatisfaction with current policy. Otherwise the media will depart from elite consensus only rarely and in limited ways. Even when large parts of the general public break free of the premises of the doctrinal system, as finally happened during the Indochina wars, real understanding based upon an alternative conception of the evolving history can be developed only with considerable effort by the most diligent and skeptical. And such understanding as can be reached through serious and often individual effort will be difficult to sustain or apply elsewhere, an extremely important matter for those who are truly concerned with democracy at home and "the influence of democracy abroad," in the real sense of these words.

slavery never took the form of the large-scale plantations found in the American South, the Caribbean or South America. Plantations, though their establishment was desired by some colonists, were found to be incompatible with Canada’s climate and short growing season (Mackey 2010). As a result, the number of enslaved people in Canada was always lower, and the economy less reliant on slave labour than other parts of the Americas and the Caribbean. These distinctions have underpinned the assumption in some existing scholarship that enslavement in Canada was relatively benign. Yet, the absence of slave plantation economies does not negate the brutality of the centuries-long, state-supported practice of slavery. White individuals and white settler society profited from owning unfree Black (and Indigenous) people and their labour for hundreds of years while exposing them to physical and psychological brutality, and the inferiority ascribed to Blackness in this era would affect the treatment of Black persons living in Canada for centuries to come.

If the secret core of potlatch is the reciprocity of exchange, why is this reciprocity not asserted directly, why does it assume the “mystified” form of two consecutive acts each of which is staged as a free voluntary display of generosity? Here we encounter the paradoxes of forced choice, of freedom to do what is necessary, at its most elementary: I have to do freely what I am expected to do. (If, upon receiving a gift, I immediately return it to the giver, this direct circulation would amount to an extremely aggressive gesture of humiliation, it would signal that I refused the other’s gifts — recall those embarrassing moments when elderly people forget and give us last year’s present once again … ) …the reciprocity of exchange is in itself thoroughly ambiguous; at its most fundamental, it is destructive of the social bond, it is the logic of revenge, tit for tat. To cover this aspect of exchange, to make it benevolent and pacific, one has to pretend that each person’s gift is free and stands on its own. This brings us to potlatch as the “pre-economy of the economy,” its zero-level, that is, exchange as the reciprocal relation of two non-productive expenditures. If the gift belongs to Master and exchange to the Servant, potlatch is the paradoxical exchange between Masters. Potlach is simultaneously the zero-level of civility, the paradoxical point at which restrained civility and obscene consumption overlap, the point at which it is polite to behave impolitely.

The strength of a balancing feedback loop is important relative to the impact it is designed to correct. If the impact increases in strength, the feedbacks have to be strengthened too. A thermostat system may work fine on a cold winter day—but open all the windows and its corrective power is no match for the temperature change imposed on the system. Democracy works better without the brainwashing power of centralized mass communications. Traditional controls on fishing were sufficient until sonar spotting and drift nets and other technologies made it possible for a few actors to catch the last fish. The power of big industry calls for the power of big government to hold it in check; a global economy makes global regulations necessary.

Ironically, many of the institutions that run the economy, such as medicine, education, law and even psychology are largely dependent upon failing health. If you add up the amounts of money exchanged in the control, anticipation and reaction to failing health (insurance, pharmaceutical research and products, reactive or compensatory medicine, related legal issues, consultation and therapy for those who are unwilling to improve their physical health and claim or believe the problem is elsewhere, etc.), you end up with an enormous chunk. To keep that moving, we need people to be sick. Then we have the extreme social emphasis placed on the pursuit and maintenance of a lifestyle based on making money at any cost, often at the sacrifice of health, sanity and well-being.

There are many well-known arguments for why the Holocaust perpetrated by the Nazis was different. It was higher tech. Death came faster. It was industrial in its scale. All true. But it’s also true that every holocaust is different. Every genocide has its own particular characteristics, and every hated group is hated in its own special way. By sheer numbers of dead, the genocide of Indigenous peoples in the Americas surpasses all others. In terms of modern technologies, the transatlantic trade in kidnapped and enslaved Africans, and the plantations the trade served in the antebellum South and the Caribbean, were highly modern for their times. So cutting-edge, scholars have shown, that the systems developed to transport, insure, depreciate, track, control, and extract maximum wealth from this coerced labor shaped many aspects of modern accounting and human resources management. And as Rinaldo Walcott, a scholar of race and gender, writes in his manifesto On Property, “The ideas forged in the plantation economy continue to shape our social relations.” Among those social relations are modern policing, mass surveillance, and mass incarceration. On what else does the claim to exceptionalism rest?

A more recent concern relates to “financialization” and associated short-termism. Financialization is the growing importance of norms, metrics, and incentives from the financial sector to the wider economy. Some of the concerns expressed are that, for example, managers are increasingly awarded stock options to align their incentives with those of shareholders; companies are often explicitly managed to increase short-term shareholder value; and financial engineering, such as share buybacks and earnings management, has become a more important part of senior managers’ jobs. The end result is that rather than finance serving business, business serves finance: the tail wags the dog. What John Kay described as “obliquity,” the idea that making money was a consequence of, or a second-order benefit of, serving one’s customers and building good businesses, is driven out (Kay 2010).

...Rusche and Kirchheimer relate the different systems of punishment with the systems of production within which they operate: thus, in a slave economy, punitive mechanisms serve to provide an additional labour force -- and to constitute a body of 'civil' slaves in addition to those provided by war or trading; with feudalism, at a time when money and production were still at an early stage of development, we find a sudden increase in corporal punishments -- the body being in most cases the only property accessible; the penitentiary (the Hopital General, the Spinhuis or the Rasphuis), forced labour and the prison factory appear with the development of the mercantile economy. But the industrial system requires a free market in labour and, in the nineteenth century, the role of forced labour in the mechanisms of punishment diminishes accordingly and 'corrective' detention takes its place.

In my early years the psychology of the 1960s U.S. was aspirational and inspirational—to achieve great and noble goals. It was like nothing I have seen since. One of my earliest memories was of John F. Kennedy, an intelligent, charismatic man who painted vivid pictures of changing the world for the better—exploring outer space, achieving equal rights, and eliminating poverty. He and his ideas had a major effect on my thinking. The United States was then at its peak relative to the rest of the world, accounting for 40 percent of its economy compared to about 20 percent today; the dollar was the world’s currency; and the U.S. was the dominant military power. Being “liberal” meant being committed to moving forward in a fast and fair way, while being “conservative” meant being stuck in old and unfair ways—at least that’s how it seemed to me and to most of the people around me. As we saw it, the U.S. was rich, progressive, well managed, and on a mission to improve quickly at everything. I might have been naive but I wasn’t alone.

There were, however, major differences between the respective upsurges of cooperativism in the 1880s and the 1960s, centered around the fact that the earlier one was part of a broad-based labor movement, unlike the later. Thus, the skilled and semi-skilled cooperators during the 1870s and 1880s explicitly used cooperatives as a way to guarantee employment, and arguably they were more ambitious, with their revolutionary hopes for a cooperative commonwealth. Their ideology, of course, was not the educated middle-class countercultural and anti-authoritarian one of the 1960s’ youth movements but “laborist,” “producerist,” devoted to the Jeffersonian ideal of a republic of free laborers, mostly artisans and craftsmen. Some scholars have argued that this fact proves the Knights of Labor were “backward-looking” rather than truly revolutionary—that the future lay in mass production, not skilled labor or artisanry168—but this criticism seems partly off the mark. It is true that the Knights were hostile to mechanization, just as workers have been in the era of the AFL-CIO, because in both cases it threatened to put them out of a job or to result in the lowering of wages and the deskilling of work. If this aversion to the degradation and mechanization of work is reactionary, so be it. But it is also a source of such revolutionary demands as democratization of production relations, cooperative organization of the economy, public ownership of industry, destruction of the capitalist class and its frequent tool the state, and other hopes cherished by millions of workers in the late nineteenth century.

Think about ethanol again. The benefits of that $7 billion tax subsidy are bestowed on a small group of farmers, making it quite lucrative for each one of them. Meanwhile, the costs are spread over the remaining 98 percent of us, putting ethanol somewhere below good oral hygiene on our list of everyday concerns. The opposite would be true with my plan to have left-handed voters pay subsidies to right-handed voters. There are roughly nine right-handed Americans for every lefty, so if every right-handed voter were to get some government benefit worth $100, then every left-handed voter would have to pay $900 to finance it. The lefties would be hopping mad about their $900 tax bills, probably to the point that it became their preeminent political concern, while the righties would be only modestly excited about their $100 subsidy. An adept politician would probably improve her career prospects by voting with the lefties. Here is a curious finding that makes more sense in light of what we‘ve just discussed. In countries where farmers make up a small fraction of the population, such as America and Europe, the government provides large subsidies for agriculture. But in countries where the farming population is relatively large, such as China and India, the subsidies go the other way. Farmers are forced to sell their crops at below-market prices so that urban dwellers can get basic food items cheaply. In the one case, farmers get political favors; in the other, they must pay for them. What makes these examples logically consistent is that in both cases the large group subsidizes the smaller group. In politics, the tail can wag the dog. This can have profound effects on the economy.

After World War II, the United States, triumphant abroad and undamaged at home, saw a door wide open for world supremacy. Only the thing called ‘communism’ stood in the way, politically, militarily, economically, and ideologically. Thus it was that the entire US foreign policy establishment was mobilized to confront this ‘enemy’, and the Marshall Plan was an integral part of this campaign. How could it be otherwise? Anti-communism had been the principal pillar of US foreign policy from the Russian Revolution up to World War II, pausing for the war until the closing months of the Pacific campaign when Washington put challenging communism ahead of fighting the Japanese. Even the dropping of the atom bomb on Japan – when the Japanese had already been defeated – can be seen as more a warning to the Soviets than a military action against the Japanese.19 After the war, anti-communism continued as the leitmotif of American foreign policy as naturally as if World War II and the alliance with the Soviet Union had not happened. Along with the CIA, the Rockefeller and Ford Foundations, the Council on Foreign Relations, certain corporations, and a few other private institutions, the Marshall Plan was one more arrow in the quiver of those striving to remake Europe to suit Washington’s desires: 1.    Spreading the capitalist gospel – to counter strong postwar tendencies toward socialism. 2.    Opening markets to provide new customers for US corporations – a major reason for helping to rebuild the European economies; e.g. a billion dollars (at twenty-first-century prices) of tobacco, spurred by US tobacco interests. 3.    Pushing for the creation of the Common Market (the future European Union) and NATO as integral parts of the West European bulwark against the alleged Soviet threat. 4.    Suppressing the left all over Western Europe, most notably sabotaging the Communist parties in France and Italy in their bids for legal, non-violent, electoral victory. Marshall Plan funds were secretly siphoned off to finance this endeavor, and the promise of aid to a country, or the threat of its cutoff, was used as a bullying club; indeed, France and Italy would certainly have been exempted from receiving aid if they had not gone along with the plots to exclude the Communists from any kind of influential role.

The world has enjoyed a notably long period marked by relative peace and security. Nevertheless, the forecasts of increasing fragile states, mounting conflicts born of natural resource scarcity, and the rising risk in the incidence of terrorism around the world all point to an increasingly politically volatile world, one that is worsened by economic uncertainty. The Horizon 2025: Creative Destruction in the Aid Industry report cautions that within the next decade more than 80 percent of the world’s population will live in fragile states, susceptible to civil wars that could spill into cross-border conflicts.4 The US National Intelligence Council has published a similarly dire forecast of more clashes in decades to come. While this study focuses largely on the prospect of natural resource conflicts, water especially, it underscores the political vulnerability of many economies. A 2016 report by the Institute for Economics and Peace concludes 2014 was the worst year for terrorism in a decade and a half, with attacks in ninety-three countries resulting in 32,765 people killed; 29,376 people died the year before, making 2013 the second worst year.5

The principles of war are the same as those of a siege. Fire must be concentrated on one point, and as soon as the breach is made, the equilibrium is broken and the rest is nothing.' Subsequent military theory has put the accent on the first clause instead of on the last: in particular, on the words 'one point' instead of on the word 'equilibrium'. The former is but a physical metaphor, whereas the latter expresses the actual psychological result which ensures 'that the rest is nothing'. His own emphasis can be traced in the strategic course of his campaigns. The word 'point' even, has been the source of much confusion, and more controversy. One school has argued that Napoleon meant that the concentrated blow must be aimed at the enemy's strongest point, on the ground that this, and this only, ensures decisive results. For if the enemy's main resistance be broken, its rupture will involve that of any lesser opposition. This argument ignores the factor of cost, and the fact that the victor may be too exhausted to exploit his success-so that even a weaker opponent may acquire a relatively higher resisting power than the original. The other school-better imbued with the idea of economy of force, but only in the limited sense of first costs-has contended that the offensive should be aimed at the enemy's weakest point. But where a point is obviously weak this is usually because it is remote from any vital artery or nerve centre, or because it is deliberately weak to draw the assailant into a trap. Here, again illumination comes from the actual campaign in which Bonaparte put this maxim into execution. It clearly suggests that what he really meant was not 'point', but 'joint'-and that at this stage of his career he was too firmly imbued with the idea of economy of force to waste his limited strength in battering at the enemy's strong point. A joint, however, is both vital and vulnerable. It was at this time too, that Bonaparte used another phrase that has subsequently been quoted to justify the most foolhardy concentrations of effort against the main armed forces of the enemy. 'Austria is our most determined enemy....Austria overthrown, Spain and Italy fall of themselves. We must not disperse our attacks but concentrate them.' But the full text of the memorandum containing this phrase shows that he was arguing, not in support of the direct attack upon Austria, but for using the army on the frontier of Piedmont for an indirect approach to Austria.

Here are my simple rules for identifying market tops and bottoms: 1. Market tops are relatively easy to recognize. Buyers generally become overconfident and almost always believe “this time is different.” It’s usually not. 2. There’s always a surplus of relatively cheap debt capital to finance acquisitions and investments in a hot market. In some cases, lenders won’t even charge cash interest, and they often relax or suspend typical loan restrictions as well. Leverage levels escalate compared to historical averages, with borrowing sometimes reaching as high as ten times or more compared to equity. Buyers will start accepting overoptimistic accounting adjustments and financial forecasts to justify taking on high levels of debt. Unfortunately most of these forecasts tend not to materialize once the economy starts decelerating or declining. 3. Another indicator that a market is peaking is the number of people you know who start getting rich. The number of investors claiming outperformance grows with the market. Loose credit conditions and a rising tide can make it easy for individuals without any particular strategy or process to make money “accidentally.” But making money in strong markets can be short-lived. Smart investors perform well through a combination of self-discipline and sound risk assessment, even when market conditions reverse.

The exchangeability that is expressed in money must inevitably have repercussions upon the quality of commodities themselves, or must interact with it. The disparagement of the interest in the individuality of a commodity leads to a disparagement of individuality itself. If the two sides to a commodity are its quality and it s price, then it seems logically impossible for the interest to be focused on only one of these sides: for cheapness is an empty word if it does not imply a low price for a relative good quality, and good quality is an economic attraction only for a correspondingly fair price. And yet this conceptual impossibility is psychologically real and effective. The interest in the one side can be so great that its logically necessary counterpart completely disappears. The typical instance of one of these case s is the ‘fifty cents bazaar’. The principle of valuation in the mode rn money economy finds its clearest expression here. It is not the commodity that is the centre of interest here but the price—a principle that in former times not only would have appeared shameless but would have been absolutely impossible. It has been rightly pointed out that the medieval town, despite all the progress it embodied, still lacked the extensive capital economy, and that this was the reason for seeking the ideal of the economy not so much in the expansion (which is possibly only through cheapness) but rather in the quality of the goods offered; hence the great contributions of the applied arts, the rigorous control of production, the strict policing of basic necessities, etc. Such is one extreme pole of the series, whose other pole is characterized by the slogan, ‘cheap and bad’—a synthesis that is possibly only if we are hypnotized by cheapness and are not aware of anything else. The levelling of objects to that of money reduces the subjective interest first in their specific qualities and then, as a further consequence, in the objects themselves. The production of cheap trash is, as it were, the vengeance of the objects for the fact that they have been ousted from the focal point of interest by a merely indifferent means.

The language of caste may well seem foreign or unfamiliar to some. Public discussions about racial caste in America are relatively rare. We avoid talking about caste in our society because we are ashamed of our racial history. We also avoid talking about race. We even avoid talking about class. Conversations about class are resisted in part because there is a tendency to imagine that one's class reflects upon one's character. What is key to America's understanding of class is the persistent belief - despite all evidence to the contrary - that anyone, with the proper discipline and drive, can move from a lower class to a higher class. We recognize that mobility may be difficult, but the key to our collective self-image is the assumption that mobility is always possible, so failure to move up reflects on one's character. By extension, the failure of a race or ethnic group to move up reflects very poorly on the group as a whole. What is completely missed in the rare public debates today about the plight of African Americans is that a huge percentage of them are not free to move up at all. It is not just that they lack opportunity, attend poor schools, or are plagued by poverty. They are barred by law from doing so. And the major institutions with which they come into contact are designed to prevent their mobility. To put the matter starkly: The current system of control permanently locks a huge percentage of the African American community out of the mainstream society and economy. The system operates through our criminal justice institutions, but it functions more like a caste system than a system of crime control. Viewed from this perspective, the so-called underclass is better understood as an undercaste - a lower caste of individuals who are permanently barred by law and custom from mainstream society. Although this new system of racialized social control purports to be colorblind, it creates and maintains racial hierarchy much as earlier systems of control did. Like Jim Crow (and slavery), mass incarceration operates as a tightly networked system of laws, policies, customs, and institutions that operate collectively to ensure the subordinate status of a group defined largely by race.

The self-consciousness that mocks all attempts at spontaneous action or enjoyment derives in the last analysis from the waning belief in the reality of the external world, which has lost its immediacy in a society pervaded by "symbolically mediated information." The more man objectifies himself in his work, the more reality takes on the appearance of illusion. As the workings of the modern economy and the modern social order become increasingly inaccessible to everyday intelligence, art and philosophy abdicate the task of explaining them to the allegedly objective sciences of society, which themselves have retreated from the effort to master reality into the classification of trivia. Reality thus presents itself, to laymen and "scientists" alike, as an impenetrable network of social relations-as "role playing," the "presentation of self in everyday life." To the performing self, the only reality is the identity he can construct out of materials furnished by advertising and mass culture, themes of popular film and fiction, and fragments torn from a vast range of cultural traditions, all of them equally contemporaneous to the contemporary mind.* In order to polish and perfect the part he has devised for himself, the new Narcissus gazes at his own reflection, not so much in admiration as in unremitting search of flaws, signs of fatigue, decay. Life becomes a work of art, while "the first art work in an artist," in Norman Mailer's pronouncement, "is the shaping of his own personality.

In the late twentieth century democracies usually outperformed dictatorships because democracies were better at data-processing. Democracy diffuses the power to process information and make decisions among many people and institutions, whereas dictatorship concentrates information and power in one place. Given twentieth-century technology, it was inefficient to concentrate too much information and power in one place. Nobody had the ability to process all the information fast enough and make the right decisions. This is part of the reason why the Soviet Union made far worse decisions than the United States, and why the Soviet economy lagged far behind the American economy. However, soon AI might swing the pendulum in the opposite direction. AI makes it possible to process enormous amounts of information centrally. Indeed, AI might make centralised systems far more efficient than diffused systems, because machine learning works better the more information it can analyse. If you concentrate all the information relating to a billion people in one database, disregarding all privacy concerns, you can train much better algorithms than if you respect individual privacy and have in your database only partial information on a million people. For example, if an authoritarian government orders all its citizens to have their DNA scanned and to share all their medical data with some central authority, it would gain an immense advantage in genetics and medical research over societies in which medical data is strictly private. The main handicap of authoritarian regimes in the twentieth century – the attempt to concentrate all information in one place – might become their decisive advantage in the twenty-first century.

In the late twentieth century democracies usually outperformed dictatorships because democracies were better at data-processing. Democracy diffuses the power to process information and make decisions among many people and institutions, whereas dictatorship concentrates information and power in one place. Given twentieth-century technology, it was inefficient to concentrate too much information and power in one place. Nobody had the ability to process all the information fast enough and make the right decisions. This is part of the reason why the Soviet Union made far worse decisions than the United States, and why the Soviet economy lagged far behind the American economy. “However, soon AI might swing the pendulum in the opposite direction. AI makes it possible to process enormous amounts of information centrally. Indeed, AI might make centralised systems far more efficient than diffused systems, because machine learning works better the more information it can analyse. If you concentrate all the information relating to a billion people in one database, disregarding all privacy concerns, you can train much better algorithms than if you respect individual privacy and have in your database only partial information on a million people. For example, if an authoritarian government orders all its citizens to have their DNA scanned and to share all their medical data with some central authority, it would gain an immense advantage in genetics and medical research over societies in which medical data is strictly private. The main handicap of authoritarian regimes in the twentieth century – the attempt to concentrate all information in one place – might become their decisive advantage in the twenty-first century.

The critical infrastructure of Indigenous worlds is, fundamentally, about responsibility and being a good relative. But our responsibilities do not happen only in the realm of political transformation. Caretaking, which we address in the introduction and in Part III, is the basis, too, for vibrant economies that must work fluidly with political structures to reinforce the world we seek to build beyond capitalism. We must thus have faith in our own forms of Indigenous political economy, the critical infrastructures that Huson speaks of so eloquently. We must rigorously study, theorize, enact, and experiment with these forms. While it covers ambitious terrain, The Red Deal at its base provides a program for study, theorization, action, and experimentation. But we must do the work. And the cold, hard truth is that we must not only be willing to do the work on a small scale whenever it suits us—in our own lives, in our families, or even in The Red Nation. We must be willing, as our fearless Wet’suwet’en relatives have done, to enforce these orders on a large scale. In conversation, our The Red Nation comrade Nick Estes stated, “I don’t want to just honor the treaties. I want to enforce them.” We can and should implement these programs in our own communities to alleviate suffering and protect what lands we are still able to caretake under colonial rule. To survive extinction, however, we must enforce Indigenous orders in and amongst those who have made it clear they will not stop their plunder until we are all dead. Settler and imperial nations, military superpowers, multinational corporations, and members of the ruling class are enemies of the Earth and the greatest danger to our future. How will we enforce Indigenous political, scientific, and economic orders to successfully prevent our mass ruin? This is the challenge we confront and pose in The Red Deal, and it is the challenge that all who take up The Red Deal must also confront.

Let us suppose that this ounce of mud is left in perfect rest, and that its elements gather together, like to like, so that their atoms may get into the closest relations possible. Let the clay begin. Ridding itself of all foreign substance, it gradually becomes a white earth, already very beautiful; and fit, with help of congealing fire, to be made into finest porcelain, and painted on, and be kept in kings’ palaces. But such artificial consistence is not its best. Leave it still quiet to follow its own instinct of unity, and it becomes not only white, but clear; not only clear, but hard; not only clear and hard, but so set that it can deal with light in a wonderful way, and gather out of it the loveliest blue rays only, refusing the rest. We call it then a sapphire. Such being the consummation of the clay, we give similar permission of quiet to the sand. It also becomes, first, a white earth, then proceeds to grow clear and hard, and at last arranges itself in mysterious, infinitely fine, parallel lines, which have the power of reflecting not merely the blue rays, but the blue, green, purple, and red rays in the greatest beauty in which they can be seen through any hard material whatsoever. We call it then an opal. In next order the soot sets to work; it cannot make itself white at first, but instead of being discouraged, tries harder and harder, and comes out clear at last, and the hardest thing in the world; and for the blackness that it had, obtains in exchange the power of reflecting all the rays of the sun at once in the vividest blaze that any solid thing can shoot. We call it then a diamond. Last of all the water purifies or unites itself, contented enough if it only reach the form of a dew-drop; but if we insist on its proceeding to a more perfect consistence, it crystallizes into the shape of a star. And for the ounce of slime which we had by political economy of competition, we have by political economy of co-operation, a sapphire, an opal, and a diamond, set in the midst of a star of snow.

The attachment voids experienced by immigrant children are profound. The hardworking parents are focused on supporting their families economically and, unfamiliar with the language and customs of their new society, they are not able to orient their children with authority or confidence. Peers are often the only people available for such children to latch on to. Thrust into a peer-oriented culture, immigrant families may quickly disintegrate. The gulf between child and parent can widen to the point that becomes unbridgeable. Parents of these children lose their dignity, their power, and their lead. Peers ultimately replace parents and gangs increasingly replace families. Again, immigration or the necessary relocation of people displaced by war or economic misery is not the problem. Transplanted to peer-driven North American society, traditional cultures succumb. We fail our immigrants because of our own societal failure to preserve the child-parent relationship. In some parts of the country one still sees families, often from Asia, join together in multigenerational groups for outings. Parents, grandparents, and even frail great-grandparents mingle, laugh, and socialize with their children and their children's offspring. Sadly, one sees this only among relatively recent immigrants. As youth become incorporated into North American society, their connections with their elders fade. They distance themselves from their families. Their icons become the artificially created and hypersexualized figures mass-marketed by Hollywood and the U.S. music industry. They rapidly become alienated from the cultures that have sustained their ancestors for generation after generation. As we observe the rapid dissolution of immigrant families under the influence of the peer-oriented society, we witness, as if on fast-forward video, the cultural meltdown we ourselves have suffered in the past half century. It would be encouraging to believe that other parts of the world will successfully resist the trend toward peer orientation. The opposite is likely to be the case as the global economy exerts its corrosive influences on traditional cultures on other continents. Problems of teenage alienation are now widely encountered in countries that have most closely followed upon the American model — Britain, Australia, and Japan. We may predict similar patterns elsewhere to result from economic changes and massive population shifts. For example, stress-related disorders are proliferating among Russian children. According to a report in the New York Times, since the collapse of the Soviet Union a little over a decade ago, nearly a third of Russia's estimated 143 million people — about 45 million — have changed residences. Peer orientation threatens to become one of the least welcome of all American cultural exports.

The failure of Communism was consecrated in the fall of the Soviet Union. The remarkable thing is that, as in most cases when prophecy fails, the faith never faltered. Indeed, an alternative version had long been maturing, though cast into the shadows for a time by enthusiasm for the quick fix of revolution. It had, however, been maturing for at least a century and already had a notable repertoire of institutions available. We may call it Olympianism, because it is the project of an intellectual elite that believes that it enjoys superior enlightenment and that its business is to spread this benefit to those living on the lower slopes of human achievement. And just as Communism had been a political project passing itself off as the ultimate in scientific understanding, so Olympianism burrowed like a parasite into the most powerful institution of the emerging knowledge economy--the universities. We may define Olympianism as a vision of human betterment to be achieved on a global scale by forging the peoples of the world into a single community based on the universal enjoyment of appropriate human rights. Olympianism is the cast of mind dedicated to this end, which is believed to correspond to the triumph of reason and community over superstition and hatred. It is a politico-moral package in which the modern distinction between morals and politics disappears into the aspiration for a shared mode of life in which the communal transcends individual life. To be a moral agent is in these terms to affirm a faith in a multicultural humanity whose social and economic conditions will be free from the causes of current misery. Olympianism is thus a complex long-term vision, and contemporary Western Olympians partake of different fragments of it. To be an Olympian is to be entangled in a complex dialectic involving elitism and egalitarianism. The foundational elitism of the Olympian lies in self-ascribed rationality, generally picked up on an academic campus. Egalitarianism involves a formal adherence to democracy as a rejection of all forms of traditional authority, but with no commitment to taking any serious notice of what the people actually think. Olympians instruct mortals, they do not obey them. Ideally, Olympianism spreads by rational persuasion, as prejudice gives way to enlightenment. Equally ideally, democracy is the only tolerable mode of social coordination, but until the majority of people have become enlightened, it must be constrained within a framework of rights, to which Olympian legislation is constantly adding. Without these constraints, progress would be in danger from reactionary populism appealing to prejudice. The overriding passion of the Olympian is thus to educate the ignorant and everything is treated in educational terms. Laws for example are enacted not only to shape the conduct of the people, but also to send messages to them. A belief in the power of role models, public relations campaigns, and above all fierce restrictions on raising sensitive questions devant le peuple are all part of pedagogic Olympianism.

[Magyar] had an intense dislike for terms like 'illiberal,' which focused on traits the regimes did not possess--like free media or fair elections. This he likened to trying to describe an elephant by saying that the elephant cannot fly or cannot swim--it says nothing about what the elephant actually is. Nor did he like the term 'hybrid regime,' which to him seemed like an imitation of a definition, since it failed to define what the regime was ostensibly a hybrid of. Magyar developed his own concept: the 'post-communist mafia state.' Both halves of the designation were significant: 'post-communist' because "the conditions preceding the democratic big bang have a decisive role in the formation of the system. Namely that it came about on the foundations of a communist dictatorship, as a product of the debris left by its decay." (quoting Balint Magyar) The ruling elites of post-communist states most often hail from the old nomenklatura, be it Party or secret service. But to Magyar this was not the countries' most important common feature: what mattered most was that some of these old groups evolved into structures centered around a single man who led them in wielding power. Consolidating power and resources was relatively simple because these countries had just recently had Party monopoly on power and a state monopoly on property. ... A mafia state, in Magyar's definition, was different from other states ruled by one person surrounded by a small elite. In a mafia state, the small powerful group was structured just like a family. The center of the family is the patriarch, who does not govern: "he disposes--of positions, wealth, statuses, persons." The system works like a caricature of the Communist distribution economy. The patriarch and his family have only two goals: accumulating wealth and concentrating power. The family-like structure is strictly hierarchical, and membership in it can be obtained only through birth or adoption. In Putin's case, his inner circle consisted of men with whom he grew up in the streets and judo clubs of Leningrad, the next circle included men with whom he had worked with in the KGB/FSB, and the next circle was made up of men who had worked in the St. Petersburg administration with him. Very rarely, he 'adopted' someone into the family as he did with Kholmanskikh, the head of the assembly shop, who was elevated from obscurity to a sort of third-cousin-hood. One cannot leave the family voluntarily: one can only be kicked out, disowned and disinherited. Violence and ideology, the pillars of the totalitarian state, became, in the hands of the mafia state, mere instruments. The post-communist mafia state, in Magyar's words, is an "ideology-applying regime" (while a totalitarian regime is 'ideology-driven'). A crackdown required both force and ideology. While the instruments of force---the riot police, the interior troops, and even the street-washing machines---were within arm's reach, ready to be used, ideology was less apparently available. Up until spring 2012, Putin's ideological repertoire had consisted of the word 'stability,' a lament for the loss of the Soviet empire, a steady but barely articulated restoration of the Soviet aesthetic and the myth of the Great Patriotic War, and general statements about the United States and NATO, which had cheated Russia and threatened it now. All these components had been employed during the 'preventative counter-revolution,' when the country, and especially its youth, was called upon to battle the American-inspired orange menace, which threatened stability. Putin employed the same set of images when he first responded to the protests in December. But Dugin was now arguing that this was not enough. At the end of December, Dugin published an article in which he predicted the fall of Putin if he continued to ignore the importance of ideas and history.