The first of a series of MOOC assocaited with George Soros economics rethinktank www.ineteconomics.org
Our informal skype alumn group aims to worldwide meet on saturdays 5pm greenwich mean time. What agenda should we be spending our time oin. Here' my vote
My understanding is that we are going to try a group Skype at 5pm greenwich mean time Saturday. I am not the main connector so I will assume he/she will reconfirm if this is the chosen time. I would like to ask whether those who group Skype ( at first or other times) could list at least 1 burning issue they wish to collaboratively resolve
Mine is a bit unusual. I believe millions of youth should be involved in debating - are the world's financial systems designed to sustain what future purposes most families, communities want?. George Soros who Mehrling networks with as educational director of www.ineteconomics.org recently said that economics is as bankrupt as the banks got to be in 2008. He has asked for complete rethinking of economics from ground/community up. So is there a difference between the money system as currently spun by fed and wall street and a "re-thought one" More bluntly: is the purpose of banking designed to help each human being optimize a productive life or to trap most of us in debt? Is the FED owned by the people (and for future generations) or by big bankers who reward themselves for the more volatility/bubbles they spin?
I am concerned because my dad (Norman Macrae) spent the second half of his life from 1972 hosting "Entrepreneurial Revolution") debates in The Economists and elsewhere as to what short-term fixes economists made before and after each world war that would need changing before the world through telecomputer networks became more globally and locally connected. The transformation to economic mapping if net generations were to be sustainable. I don't think these changes have been made. And personally I would bet that open education is our last chance to ask whether we are designing future purposes of health , of food, of energy, of everything that hi-trust communities need to develop above zero-sum trades through time not just extract from each past quarter
We seem to be ruled by a banking system for the 1% of biggest people who live global lives than the 99% of us whose families live in communities. When Adam smith conceptualized free markets in 1750s he specifically meant community markets where human relationships were visible enough that someone might fool some of the people some of the time but not all of the people all of time. When banking markets are designed around too big to fall systems they are certainly not free and not entrepreneurially valuable the way Adam Smith -or my even greater Scottish hero James Wilson mediated. James' project is 170 years old today. This greatest pro-youth economics project began by throwing out of UK parliament of 1843 all big vested interest MPs. Its goal was to mediate economics to end hunger and end capital abuse of youth. It was James; son-in-law Walter Bagehot who continued that quest with his writings that included Lombard Street and what Queen Victoria needed to do to the English Constitution to end slave making empire trades and startup commonwealth. What would James and Walter make of Wall Street's biggest banks. Are they economical or non-economical when assessed by the hi-trust definitions Adam first mapped?
Which economist alive or dead do you trust most? President (of inet) Rob Johnson explains how different the value of Keynes was http://www.youtube.com/watch?v=TVCJerN6QJM very different than any economic guru who preside over your tv news ...