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In that case you might want to become more perfectly aware of the rest of Africa too.

Unless you believe Africa begins somewhere north of Greece, I don't see where you're coming from here.

I was looking for examples of what happens when banks aren't in the way. You provided a list of failures that have been created by banking.

Well when banks are not in the way, you don't get electricity in the first place. Nevermind gas-fired baseload.

Yes, the government can take over the strategic planning role currently fulfilled by the banks. The government can also monitor the banks to make sure they do their job. You have not provided any argument for why one of these solutions is universally superior to the other.

To repeat - I am talking about social transactions which are not financialised, and not primarily for profit

Since most European economies have been money-based since before they were industrialised, you may have a hard time finding any significant volume of industrial production that has ever taken place outside the monetary system.

You have more risk and instability when banks are pretending to manage the economy

A moment ago you were arguing that risk really wasn't so bad, so we didn't want to prevent it.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat May 14th, 2011 at 03:11:54 PM EST
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