1. life is but a series of complex chemical reactions
2. there is no right or wrong, only beneficial or detrimental reactions to actions
3. justice is but a myth
4. morality is perceived
5. language has limited our capacity of thought
6. self-awareness could ultimately be the causation of human extinction
7. all humans have Psychosis in some form
Mark Blyth is Professor of International Political Economy and faculty fellow of the Watson Institute for International Studies at Brown University. He is based in political science but his research begs and borrows from multiple fields. He is particularly interested in how uncertainty and randomness impact complex systems, particularly economic systems, and why people continue to believe particular economic ideas despite buckets of evidence to the contrary. He was a member of the Warwick Commission on International Financial Reform that made an early case for macro-prudential regulation. He is the author of several books including Great Transformations: Economic Ideas and Institutional Change in the Twentieth Century (Cambridge: Cambridge University Press 2002, and most recently, Financial Times Books of the Year (economics List) Austerity: The History of a Dangerous Idea (Oxford University Press 2013), which questions the return to prominence of financial orthodoxy following the global financial crisis.
Last week, a very radical proposal appeared in the pages of the influential ‘Foreign Affairs’ magazine, the publication arm of the equally influential Council on Foreign Relations (CFR) think-tank based in New York.
An article “Print Less but Transfer More – Why Central Banks Should Give Money Directly to the People”, that has been picked up widely in the media argues that given that monetary stimulus measures such as quantitative easing and near zero central bank interest rates have failed to boost economic growth, a new radical monetary approach is needed.
That approach is to print currency and give the cash directly to consumers and households as required so as to remedy insufficient consumer spending and in order to prevent recessions.
Although ‘Foreign Affairs’ publishes various sides of important debates, policy articles in ‘Foreign Affairs’ have tended to influence US economic and political policy over the years, so the ‘cash transfer proposal’ is worth watching.
Hoped For Benefits Of “Free Cash”
Blyth and Lonergan argue that the slow economic growth and low inflation rates being currently witnessed in Western developed economies call for more extreme government and policy maker approaches so as to get people spending again, thereby stimulating economic growth and encouraging inflation.
To them, deflation is a key threat that the unconventional low interest rates and quantitative easing has not managed to tackle. Therefore in their eyes this needs to be countered by directly making consumers spend more by actually handing over cash to them.
Blyth and Lonergan draw on Ben Bernanke and Milton Friedman to support their cash transfer argument and openly say that it is now “well past time” for policy makers in the US and also in other developed countries to try the helicopter cash drop approach.
Judicial Watch reports that the Department of Justice is giving liberal activist groups money from a $16.6 billion settlement with Bank of America.
The groups benefitting from the lawsuit, according to Investor’s Business Daily, are the National Council of La Raza, Operation Hope, National Community Reinvestment Coalition, and Neighborhood Assistance Corporation of America. The money also went to “delinquent borrowers” in Chicago, Oakland, Detroit, Philadelphia, and other major “Democrat strongholds.”
“This is a wealth redistribution scheme disguised as a lawsuit,” Tom Fitton, president of Judicial Watch, told The Daily Caller. “And who benefits from the distribution? Interest groups the administration relies on, outside interest groups, allies and politicians in communities trying to benefit as well.”
Fitton noted that these liberal groups are basically what’s left of the Association of Community Organization for Reform Now (ACORN) network, and that President Barack Obama has ties to ACORN.
One level of education, itself a very high one, has been reached when man gets beyond superstitious and religious concepts and fears and, for example, no longer believes in the heavenly angels or original sin, and has stopped talking about the soul`s salvation. Once he is at this level of liberation, he must still make a last intense effort to overcome metaphysics. Then, however, a retrograde movement is necessary: he must understand both the historical and the psychological justification in metaphysical ideas. He must recognize how mankind`s greatest advancement came from them and how, if one did not take this retrograde step, one would rob himself of mankind`s finest accomplishments to date.
For both parties, the most disagreeable way of responding to a polemic is to be angry and keep silent: for the aggressor usually takes the silence as a sign of disdain.
my only concern is that we have better representation for naming hurricanes to reflect African Americans and other ethnic groups.