This 'promise of insight' should be based on the following:
The model of financial capitalism is thus all-encompassing, not only grabbing an increasing share of the economic pie, but also dominating all politicial and economic discourse. The reality, unfortunately, is that a massive inequality, declining or stagnant living standards for the majority, which spend more than they earn, and, as a consequence, a massive bill pushed out into the future. Well, that future is now, and the imbalances will only be unwound if incomes match spending, which can happen via lower spending or via higher incomes.
The reality, unfortunately, is that a massive inequality, declining or stagnant living standards for the majority, which spend more than they earn, and, as a consequence, a massive bill pushed out into the future. Well, that future is now, and the imbalances will only be unwound if incomes match spending, which can happen via lower spending or via higher incomes.
This is the core message. The paradox of capitalism.
Sorry i don't have time for more at the moment.... You can't be me, I'm taken
I'm not quite convinced by this argument, but starting with a rhetorical like 'What do Enron, the credit crunch, shrinking real incomes, galloping inflation, (etc) have in common?' might be a punchier beginning for some markets.
Also - it could help to frame the argument in monetarist terms. We've argued on ET that energy and asset price bubbles are inherently at least as inflationary as wage pressures. If you could fit that point in and try to trojan horse the argument as a question about 'sound economic policy', it might be more likely to change minds than a full-on assault.
It is not crucial, in 1000 words, to end on a summary. But I think it always works to hit them with something to chew on in the last para. Especially if it invites dialogue. You can't be me, I'm taken
(a) absolute property rights over Commons, without compensation to Society; and
(b) "Money as Debt";
then you identify the symptoms just fine, but not the cause of the Anglo Disease, still less the Cure. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
