We make a mistake in thinking state socialism is the challenger to capitalism as the most important system of terrestrial knowledge. Instead, the real challenge comes from ecology, not from economy. The mania for growth built into capitalism isn’t compatible with the steady state nature of ecological systems as a whole.
It’s an error to compare today’s demonetization to what happened in 1946 and 1978, for those were simply cases of removal. What’s being attempted today is the wholesale replacement of one financial system — based on cash — with another financial system, based on credit and electronic trade. It’s not a surgical strike; it’s bypass surgery on an unwilling […]
The Message is in the Medium Scholars create and communicate knowledge in several ways. The most public media we create are papers and books that are published after review and editing. We also write in other venues: newspaper articles, blogs and other venues that don’t have the same formality or prestige as papers and books but […]