but what if the global insititutions feed us more chicago school nonsense?
My only hope is that the crazy people on financial markets realize that there are other crazy millionaire people which will lose everything if they keep on with their nonsense...and cave in front of the pressure.
so I hope a global government would take care of all the rich people.. and not merely the nut-jobs.
A pleasure I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude
That is a legitimate concern, IMO. But NCE is not equally appealing to all. In its current incarnation it has a core/periphery structure and is so designed that the core can suck the life out of the periphery while claiming that "the laws of economics" made them do it. This was very satisfying to the financial elites on Wall Street and in the City. It was acceptable to the financial elites in Japan and in Germany, France and other EU members, even if they were not all equally enthusiastic about many of the features.
It appears very different to Brazil, Russia, India, and China, along with much of South East Asia, most of the rest of South America and almost all of Africa. They have been on the receiving end of the "Great Sucking Sound from the North" and their interests align differently. And they have the advantage of being in a stage of development where rapid income growth is usual. They have achieved a certain degree of autonomy from the pressures of US style NCE and are banding together to minimize their exposure. Their elites have enough sense to know what has been happening.
While they have the preponderance of the world's population, The WestTM has the preponderance of the worlds capital, broadly construed, (i.e. buildings, roads, rail, power and water infrastructure, etc. in addition to investment capital denominated in monetary units.) As they become more assertive of their own self interest things will get more difficult for proponents of NCE in The WestTM, who will be forced increasingly to turn to their own population for wealth extraction. Even if the population remains anesthetized by NCE propaganda and other distractions, the current course of policy is eating alive the very society in which NCE proponents live. It is getting interesting. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
