Sublime

The dominant regime of political economy in the West since 1971, and particularly acute since 2009, has been built on a set of related economic fallacies: There are no adverse consequences to manipulating the price and supply of money; economic well-being can be measured by increases in flows of revenue rather than the growth rate of profit over ca

It is likely instructive at this point to be clearer about how exactly Ostrom defines a common pool resource, and how she distinguishes it from a “public good.” She writes, The relatively high costs of physically excluding joint appropriators from the resource or from improvements made to the resource system are similar to the high costs of excludi

We do not trust the stranger, or the next-door neighbour – we trust the coin they hold. If they run out of coins, we run out of trust. As money brings down the dams of community, religion and state, the world is in danger of becoming one big and rather heartless marketplace.

Westmoreland was also surprised at the gullibility of the press. It was as if the initials M.D. or M.P.H. after these officials’ names had conferred upon them the credibility of Moses. Didn’t reporters know how to ask that tough second question? Or was it the more likely scenario, that they simply did not care?

It is well‐known that history is written by the victors, but in the era of government money, victors get to decide on the monetary systems, too. The United States summoned representatives of its allies to Bretton Woods in New Hampshire to discuss formulating a new global trading system. History has not been very kind to the architects of this syste