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Alternative economics January 22, 2009

Posted by dissident93 in economics.

Good to see George Monbiot’s recent Guardian article mentioning things which rarely get mentioned in the mass media (or in fact in the “alternative” media): negative interest, Silvio Gesell’s “stamp scrip”, the economic experiment in Wörgl, etc. (I first read about “negative interest” in an interesting article at the Media Hell website.)

Another commentator with a different take on the economic situation is Nassim Nicholas Taleb, whose book, The Black Swan, blew a lot of minds. I watched Taleb in a recent discussion on Newsnight. He appears to have the opinion that some esteemed economists talk out of their backsides. Many of us think the same thing, of course, but Taleb seems to have the intellect (and “real-world experience”) to know what he’s talking about. Taleb: “My outrage is aimed at the scientist-charlatan putting society at risk using statistical methods”.

Other (slightly better-known) alternatives: Noam Chomsky talking about the economic crisis; Stiglitz on “market fundamentalism”; Naomi Klein vs. Alan Greenspan on crony capitalism in the US.

Apparently forgotten or not talked about: Robert “full unemployment for all” Theobald?* Henry “everything in nature belongs to all” George? Some genius in China that we’ve never heard of?

*That’s full unemployment. We’re so used to reading “full employment”, that our eyes may play tricks.