What if everything we know about poor countries’ economies is totally wrong?
VOX, 14 July 2014
As China and India continue their fairly rapid paces of economic growth, a greater and greater share of extreme poverty is going to be concentrated in sub-Saharan Africa. But if we’re going to make progress there, we need to have good numbers about how various economies are faring, how income is distributed within them, and so forth.
The trouble, Simon Fraser University economist Morten Jerven argues, is that those numbers are often incomplete at best and downright false at worst. It’s a problem that came into sharp relief recently when Nigeria “rebased” its GDP numbers, doubling its GDP in the process.
This is one of the best critiques on neo-liberalism as an extreme ideology that I have read. It is long but well worth the investment in your time. On a personal note, I have long been offended by the neo-liberal hijacking of F.A. Hayek’s ideas, especially those on the relationship of central planning to the limits of information, which fit my empirical studies of the Pentagon’s decision-making pathologies like a hand fits a glove. Yet, Pentagon spending is a subject that most neo-liberals, like Congressman Paul Ryan, refuse to countenance. Neo-liberals, led by Milton Freedman, have twisted Hayek’s ideas into an uber capitalist, free-market, quasi-religious dogma. Lehmann’s essay is an admirable evisceration of that extremism.
Neoliberalism, the Revolution in Reverse
The Baffler, No. 24, 2014
The neoliberal flight from public responsibility is actually a curiously instructive tale of strikingly other-than-intended consequences.
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Stephan A. Schwartz
This is an extract from Beatrice Edwards’ new book, The Rise of the American Corporate Security State. It is another tale of the corruption that has become the leitmotif of America in the 21st century.
In Banking World, Fraud Is an Epidemic
BEATRICE EDWARDS – Berrett-Koehler Publishers/Truthout
Reason to be afraid #6:
Systemic corruption and a fundamental conflict of interest are driving us toward the precipice of new economic crises.
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See Also (The Book):
The Rise of the American Corporate Security State: Six Reasons to Be Afraid (2014)
Got Crowd? BE the Force!
Promise Language – The Language of Commerce
Open source, free marketplace software.
How does one gain trust without an authority?
Commerce between anonymous people is possible with a P2P database and open source.
A public record of one’s previous transactions is reputation.
This is exchange software, payment processing software, and procurement software. It provides reputation, but does much more than that. Anything of value can be traded freely. Value-added services can be provided by new and existing companies. It works with today’s companies and allows new ones to thrive.
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