Commentary by Roger Erickson
Peter Radford has a dead-on commentary about the decline in academic economics and subsequent policy advice - and it's causes.
Error Correction and Ethics
The accelerating insularity " ... has resulted in a near total elimination of a common understanding – or common memory – of its development."
I couldn't agree more. Imagine how much worse our net problem is, when this observation is extrapolated outside the economics field alone, to our entire national culture!
Make no mistake, cultural growth, decline and death is a biological process. Key steps and their entire patterns can be observed, analyzed, documented and actively responded to ... OR NOT!
Tempo matters when absorbing the impact of benefit and harm. There are always tolerance limits that, if exceeded, preclude futher experimentation. To avoid straying outside those tolerance limits for too long, we need both action and agility. How does a culture achieve those skills except through prior practice?
What kind of practice? Active, even agile, responses by a whole culture require culture-wide feedback - to guide accelerated achievement of desired outcomes. Why don't all stages of our education systems focus more on scalable teamwork? Any lesser outcomes in a national culture occur only for those electorates who get exactly what they deserve - in return for their bickering. Instead, we could be taking the easy route of full coordination - and enjoying the insane returns that coordination generates. Ben Franklin nailed it over 200 years ago, we must all hang together, or we shall surely all fail as a nation.
Smart makes easy accrue. Only stupid makes thing hard, long term, via short-term hoarding and long-term neglect.
Please, insist on the former.
Showing posts with label currrency operations. Show all posts
Showing posts with label currrency operations. Show all posts
Tuesday, April 23, 2013
Wednesday, January 9, 2013
What's it Say When a Fiat-Currency-CB Promotes Microfinance?
commentary by Roger Erickson
That there's a 2-tier approach to national liquidity?
This, from the Central Bank of a country that endorsed fiat currency 80 years ago? We need to send the entire St. Louis Fed back in their own WayBackMachine, to visit Marriner Eccles.
Maybe they could pick up on the concept of increasing the income of all citizens, so we could all use the banking system we already have?
If we have a system for providing liquidity to all citizens with real options, why not use it? Is the St. Louis Fed acknowledging that our existing banking system is - in practice - only for "high-income" people?
In a fiat-currency system, admitting that we have endorsed low-fiat and high-fiat Americans equates to constrained and unrestrained Americans, as a point of logic. That is both class based and system-non-science idiocy of course, since it ignores the logic of both sexual and cultural recombination. Since we have no predictive power, we need to practice exploring fully open Options Recombination, at breakneck speed - or else. Anything less is cultural suicide. If we don't explore our options, some other nation will.
Screw the Merchant Lobby. Free Options = National Liquidity = Managed International Trade. We need liquidity and Free Options far more than Free Trade. The Free Trade lie is promoted by a Merchant Lobby wielding only microintellect, but plenty of propaganda. Who's fooling whom, America? Patriotism is NOT promoting your local merchant channeling Benedict Arnold.
Today: St. Louis Fed @stlouisfed Video: See how microfinance can work for low-income Americans
They're revisiting their own review from Sept 2011, here's the
St. Louis Fed: Lessons from Bangladesh: How Microfinance Can Work in America
SEPTEMBER 2011
Daniel Davis, former community development specialist with the St. Louis Fed, traveled to Bangladesh in the winter of 2010/2011 to examine the impact microcredit has had on the developing nation.
While there, he had the opportunity to spend time with leaders of some of the world's most innovative microfinance institutions, including Dr. Muhammad Yunus, a Nobel Prize-winning economist from Bangladesh and founder of the nation's Grameen Bank. Davis' insights are shared here.
Related Article:
"All I Really Needed To Know about Microfinance I Learned in Bangladesh," by Daniel Davis, spring 2011 issue of Bridges | PDF presentation
Related Video:
Interview with Microfinance Expert and Kiva Co-Founder Jessica Jackley, May 2011
That there's a 2-tier approach to national liquidity?
This, from the Central Bank of a country that endorsed fiat currency 80 years ago? We need to send the entire St. Louis Fed back in their own WayBackMachine, to visit Marriner Eccles.
Maybe they could pick up on the concept of increasing the income of all citizens, so we could all use the banking system we already have?
If we have a system for providing liquidity to all citizens with real options, why not use it? Is the St. Louis Fed acknowledging that our existing banking system is - in practice - only for "high-income" people?
In a fiat-currency system, admitting that we have endorsed low-fiat and high-fiat Americans equates to constrained and unrestrained Americans, as a point of logic. That is both class based and system-non-science idiocy of course, since it ignores the logic of both sexual and cultural recombination. Since we have no predictive power, we need to practice exploring fully open Options Recombination, at breakneck speed - or else. Anything less is cultural suicide. If we don't explore our options, some other nation will.
Screw the Merchant Lobby. Free Options = National Liquidity = Managed International Trade. We need liquidity and Free Options far more than Free Trade. The Free Trade lie is promoted by a Merchant Lobby wielding only microintellect, but plenty of propaganda. Who's fooling whom, America? Patriotism is NOT promoting your local merchant channeling Benedict Arnold.
***
Today: St. Louis Fed @stlouisfed Video: See how microfinance can work for low-income Americans
They're revisiting their own review from Sept 2011, here's the
St. Louis Fed: Lessons from Bangladesh: How Microfinance Can Work in America
SEPTEMBER 2011
Daniel Davis, former community development specialist with the St. Louis Fed, traveled to Bangladesh in the winter of 2010/2011 to examine the impact microcredit has had on the developing nation.
While there, he had the opportunity to spend time with leaders of some of the world's most innovative microfinance institutions, including Dr. Muhammad Yunus, a Nobel Prize-winning economist from Bangladesh and founder of the nation's Grameen Bank. Davis' insights are shared here.
Related Article:
"All I Really Needed To Know about Microfinance I Learned in Bangladesh," by Daniel Davis, spring 2011 issue of Bridges | PDF presentation
Related Video:
Interview with Microfinance Expert and Kiva Co-Founder Jessica Jackley, May 2011
Wednesday, November 21, 2012
So Recognizable, Long Recognized by Some, & Tragic. Tears of Frustration are Understandable.
commentary by Roger Erickson
“Plan A has failed”: George Osborne on borrowed time as Britain tumbles ...
"Bungling Chancellor George Osborne's borrowing has soared by billions despite his brutal cuts - sparking fears of a triple dip recession yesterday."
In a "be, or do" context, credentials represent the personal gain always tempting Luddites to oppose the pace of exploring group options.
“Plan A has failed”: George Osborne on borrowed time as Britain tumbles ...
"Bungling Chancellor George Osborne's borrowing has soared by billions despite his brutal cuts - sparking fears of a triple dip recession yesterday."
There we have it. The pathetically slow outcome of credentialism, vainly waiting for verification from obsolete paradigms.
Has anyone EVER seen the past catch up with the present, let alone the future?
Those "believing" in credentials will refuse to even look for the nested irony hiding here in plain sight. Expect a vigorous, knee-jerk defense of credentialism neverthetheless. It's what they do, choosing to "be" something to Luddites over "do" something to surf emerging change that various "unimportant" people have invariably harped on for multiple lifetimes. Why do we always relearn, too late, that EVERY process is too important to be left to the presumed process owners?
Our new options are always stockpiled, in spades. How do you get people to explore those options? Our biggest problem is to get complacent, unmotivated people - historians - to accelerate their pace of abandoning slavish allegiance to obsolete credentials. After all, credentials are - by definition - ALWAYS tangential to unpredictable survival paths. Otherwise, nothing would have changed on planet Earth these last 4.5 billion years, not to mention the last 200 years.
We always need to know variable amounts - but usually rather little - about the past, while focusing primarily on where we can go from here. We have zero predictive power but seemingly unlimited selective power, and are always facing situations of increasing, not static complexity and tempo. Hence, when selecting the next level of Adaptive Rate - i.e., new and faster levels of coordination and indirection - paying overmuch attention to credentials is, in practice, always an impediment to unbiased sampling and exploration of emerging options. Sadly, existing credentials are always a record of how we solved yesterdays problems, and WILL slow tomorrow's Adaptive Tempo. Otherwise, there wouldn't be a steady march of new credentials. The Credentials are dead! Long live the Credentials!
Any person who asks his country to wait on existing credentials to endore uncredentialed change, is committing to treason, by being a merchant trading favorable positioning near to advantaged credentials. As Jefferson noted, "Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains."
Has anyone EVER seen the past catch up with the present, let alone the future?
Those "believing" in credentials will refuse to even look for the nested irony hiding here in plain sight. Expect a vigorous, knee-jerk defense of credentialism neverthetheless. It's what they do, choosing to "be" something to Luddites over "do" something to surf emerging change that various "unimportant" people have invariably harped on for multiple lifetimes. Why do we always relearn, too late, that EVERY process is too important to be left to the presumed process owners?
Our new options are always stockpiled, in spades. How do you get people to explore those options? Our biggest problem is to get complacent, unmotivated people - historians - to accelerate their pace of abandoning slavish allegiance to obsolete credentials. After all, credentials are - by definition - ALWAYS tangential to unpredictable survival paths. Otherwise, nothing would have changed on planet Earth these last 4.5 billion years, not to mention the last 200 years.
We always need to know variable amounts - but usually rather little - about the past, while focusing primarily on where we can go from here. We have zero predictive power but seemingly unlimited selective power, and are always facing situations of increasing, not static complexity and tempo. Hence, when selecting the next level of Adaptive Rate - i.e., new and faster levels of coordination and indirection - paying overmuch attention to credentials is, in practice, always an impediment to unbiased sampling and exploration of emerging options. Sadly, existing credentials are always a record of how we solved yesterdays problems, and WILL slow tomorrow's Adaptive Tempo. Otherwise, there wouldn't be a steady march of new credentials. The Credentials are dead! Long live the Credentials!
Any person who asks his country to wait on existing credentials to endore uncredentialed change, is committing to treason, by being a merchant trading favorable positioning near to advantaged credentials. As Jefferson noted, "Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains."
In a "be, or do" context, credentials represent the personal gain always tempting Luddites to oppose the pace of exploring group options.
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