It's not in paradigm with MMT but that he not his focus and he cuts to the case about what is truly important economically and socially — "life capital" as that which supports evolving life and is not life-damaging.
As we enter 2015, the global corporate system deepens and spreads in its eco-genocidal effects. But the dots are not joined in their common cause across domains. Money-value coordinates like GDP, commodity productivity and stock market indexes are still adopted as the measures of “economic performance” rather than life capital development which is systemically attacked rather than advanced.…
“the neo-liberal turn”:
- Rationality = Self-Maximizing Choice
- = Always More Money-Value for Self is Good
- = Self-Multiplying Sequences of Ever More Money to the Top Under 1%
- = the Ruling Growth System with No Committed Life Functions
- = All Else is Disposable Means to this Multiplying Pathogenic Growth
One can test this ruling moral meta program on every degenerate trend.…
None of this can be seen by [neoclassically based conventional] ‘Economics’ because it is a pseudo-science.…
… whatever does not fit this a-priori life-blind construction is heretical in graduate schools supplying economic advisers to governments and corporations, and taboo in the corporate press and media to the extent of its contradiction. It is not only a mechanical model, but is absurdly “freedom” and “well-being at the same time. Whatever deviates from it, conversely, is “irrational” or “despotic”. At the system-wide level of ruling story, the plot is universal for all societies. Purely self-maximizing atomic selves in the market are believed to necessitate the best of possible worlds by an invisible hand of competition ensuring lowest money costs. Life costs do not compute, and “economic growth” is consistent with destroying all life support systems.…
Societies have thus been everywhere ‘restructured’ as subordinate functions to the inexorable transformation of humanity and the world into ever more private commodities and profits...
Behind every step of degeneration lie failures of social knowledge:
(1) failure to diagnose the regulating value mechanism at work;
(2) failure to connect across the domains of life despoliation as predictable from the system’s blind money-demand multiplications;
(3) failure to define or demand any public policies against its despoiling and devouring life support systems with the public increasingly financing the out-of-control feeding cycles;
(4) failure to recognise any life-value principle or ground of the real economy itself.…
Thus an absurd metaphysics comes to rule which cannot be decoded because its first principles and axioms are a-priori dictates not subject to critical examination. The first principle of this life-blind economics begins by disconnection from all life requirements, grounds and and needs – thus mutating the economy’s provision of otherwise scarce material life goods into an opposite meaning where life goods and life capital do not exist. Capital is assumed as private money-sequences multiplying themselves with life capital blinkered out. Private commodities are assumed to be ‘goods’ although they are in fact increasingly bads for organic, social and ecological life hosts.…
Capital is not life wealth that can produce more life wealth without loss, but increasing transnational private money sequences hollowing out life capital on every plane.…
At the normative level of this doctrine, a ludicrous and fatal doctrine of freedom rules the war and peace of nations beneath consciousness of it. Freedom = freedom for private money demand only = in proportion to the amount controlled = ever less freedom for those with less of it = no right to life for those without it.…
This criterion of life value is no more a matter of opinion than people’s life necessities are. But what are these life needs that no economic paradigm – orthodox or revolutionary – defines? They are in every case that without which life capacities are reduced. Life capital, in turn, is that which produces and reproduces these life goods – from literacy and extending knowledge to the soil we grow in and air we breathe. The ruling value mechanism miscalled ‘the global economy’ is the opposite. It attacks life goods and capital everywhere as ‘externalities’ to its self-multiplying money-sequence and commodity cycles. But because such growth is assumed to be growing life value, the greatest value reversal in history is unseen.…
The underlying turning point is as old as human evolution itself. Every human advance is by knowing what enables life through time from what does not. Collective life advance is transmitting this life-and-death knowledge across selves and generations. The life capital code holds across cultures. Life goods are always that without which life capacities decline and die. All real needs, all real demand, all real supply, and all real economics are known by this criterion. The lost line between good and evil is found in this principle, and so too human freedom and well-being.
We can define the meaning more concretely as follows Every human life suffers and degenerates towards disease and death without breathable and unpolluted air, clean water and waste cycles, nourishing food and drink, protective living space, supportive love, healthcare when needed, a life-coherent environment, symbolic interaction, and meaningful work to perform. All are measurable in sufficiency across cases. All are now degraded, polluted or perverted by the self-multiplying money-capital system defined above.
Collective Life Capital the Missing Link across Divisions
Collective life capital is the long-missing principle of the common interest and collective agency. The life capital code goes deeper than gender, culture or individual differences, and includes past as well as future generations by definition. It is objective, impartial, and universally applicable. It is the ultimate regulator of the economic principles of efficiency, productivity and development. It grounds political legitimacy and supersedes ruinous man-nature, economy-environment splits and individual-social conflicts of interest. By its regulation, freedom is made responsible to its own conditions of possibility. Life capital defines an inner logic of life value which cannot in principle go wrong within or beyond economics.
Collective life capital is the missing common ground and measure across the lines of death itself. It is the this-worldly bridging concept across the impasse of global culture wars, economy-versus–environment thinking, present-versus-future interests, male versus female conflicts, and all other warring dichotomies wrenching us from our shared life ground beneath property lines and the mors immortalis of reality on earth.
The difference from received ultimate principles of value across time and theories is in the objective precision of meaning and direction when value judgement and decision are governed by its laws of: (1) life value regulator from start to finish, (2) production of more life value capacity through generational time, (3) life-value measure to tell greater from lesser in any domain by margins of capacity loss or gain, (4) cumulative life gain as the organizing goal of the process throughout, and (5) the meta principle: the more coherently inclusive any decision or action is in enabling life capacities, the better it always is for the world.…
Obviously a real economy would regulate for life capital conservation and advance with money sequences only as means [rather than as an end].
The organizing principle of real economy is long anticipated by China’s Tao-Te Ching and the West’s autarkia of human self-realization, and many prove it in their own lives. Minimal demand on short resources to enable maximum life capacities is the war of recovery on social as well as individual levels. While every corporate state now presses for ever more energy extraction and use with no limit of public and life costs at every imaginable level, the root of economic rationality – ration to need – is effectively taboo in official culture.
Once the life-capital system decider kicks in, the rules of selection for what compossibly enables rather than disables human and fellow life on earth become evident to reason and learning from mistakes – the ultimate incapacity of the now ruling global system. This is the transformation to true economy and life emancipation, and it can only proceed in accord with the life capital principle that holds across individual, social and environmental life hosts.
Global Research
The “Cancer Stage of Capitalism”: The Ten-Point Global Paradigm RevolutionJohn McMurtry, FRSC is Professor Emeritus of Philosophy at the University of Guelph, Canada. Most recently, he has focused his research on the value structure of economic theory and its consequences for global civil and environmental life. (Wikipedia)
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