I don't think there are many bigger ideas than
(a) "Bank Debt is Obsolete"; and
(b) "here's how the replacements work".
Which is what I observe, and what I'm doing. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Those who do, join in, those who don't, keep on doing what they are doing, which is their privilege.
I've already had two investment banks contact me - one at the weekend who read it in ET - in respect of the "Peak Credit" article (one at "global head of strategy" level), both of them big names, and both with a cartload of sub prime US shit to deal with.
The logic of the Internet is that intermediation is unnecessary: why are credit intermediaries aka banks any different? "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Where we differ is in relation to the causes and the cures. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Class is possibly the strongest determinant. People are either on top, desperately trying to get on top, or being screwed by those on top. Capitalism turns this into a rather psychotic artform, but it's not possible for a culture to function intelligently as long as there are these kinds of horizontal fault-lines running through the population.
Change is only going to come by distracting people from their silly class-based games and creating a sense of personal participation which is actively exciting. People desperately want to feel a part of something which is more fulfilling than office politics and a useless and irrelevant right to vote.
The Right does well because it makes politics personal - not abstract, or issue based, but directly participatory. The sense of participation is a lie, but in politics people seem to want that feeling more than almost anything.
Which is why it's not enough to critique the Anglo Disease - there has to be an alternative which is easy to understand, easy to get involved with, and which has both personal and political influence.
