Display:
Huh? Methinks you're confusing me with ChrisCook. I never said that we should abolish credit intermediaries. I just said that the part of the system that has to work all the time, every time, has to be public. Because otherwise, private gangsters can and will hold the public ransom every few years.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed May 20th, 2009 at 05:28:17 AM EST
[ Parent ]
I never said we should abolish them either, Jake, merely that they are unnecessary in a Peer to Peer economy, and I would now add that they are well on the way to abolishing themselves.

And btw it's not a case of either Public = State or Private = Corporation. It's quite possible to bring both within a partnership framework. Glasgow now has four genuinely municipal partnerships with private sector partners.

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky

by ChrisCook (cojockathotmaildotcom) on Wed May 20th, 2009 at 07:21:08 PM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Occasional Series