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Truth over economy and twilight of money

Truth over economy and twilight of money
October 19, 2009, 03:56:36 PM
Both of these unrelated but new blogs are right.

The first tells us of the heat death entropy of modern consumerism, sans values, as its own goal. The second points out abstractions which are layers of worth-value, the structure of economic bubbles, now far removed from the actual good or service, or reality, the abstractions represent.

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Maybe the reason that best explains why we understand ethics in a relativist way is that our modern perception of reality is entirely defined in functions of production. Economic science makes whatever falls into its study field relative, because it is grounded in the valuations made by individuals in reference to their circumstantial needs. This is not harmful when applied to merchandise, but when every human act is capitalized, everything is determined as good or bad by consumers. The ideal becomes capital, and goodness becomes what is desirable for the most.

If someone wants to access the goods or services of his choice, he must act according to certain exchange rules of the economic system: ethics is reduced to a certain set of contrived rules that allow individuals to build wealth and to access other goods. Ethics is no longer a spiritual understanding of behavior, but only an implement of the economic system, and thus it subordinates its own authenticity to the dominion of economy.

Truth Over Economy

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We are uncomfortably close to such a possibility just now, especially in our economic affairs. Over the last century, with the assistance of the economic hypercomplexity made possible by fossil fuels, the world’s industrial nations have taken the process of economic abstraction further than any previous civilization. On top of the usual levels of abstraction – a commodity used to measure value (gold), receipts that could be exchanged for that commodity (paper money), and promises to pay the receipts (checks and other financial paper) – contemporary societies have built an extraordinary pyramid of additional abstractions. Unlike the pyramids of Egypt, furthermore, this one has its narrow end on the ground, in the realm of actual goods and services, and widens as it goes up.

The consequence of all this pyramid building is that there are not enough goods and services on Earth to equal, at current prices, more than a small percentage of the face value of stocks, bonds, derivatives, and other fiscal exotica now in circulation. The vast majority of economic activity in today’s world consists purely of exchanges among these representations of representations of representations of wealth. This is why the real economy of goods and services can go into a freefall like the one now under way, without having more than a modest impact so far on an increasingly hallucinatory economy of fiscal abstractions.

Twilight Of Money

Re: Truth over economy and twilight of money
October 19, 2009, 05:02:17 PM
Hi,

The link in the original post I assume you took this from is bad. Use this instead: http://www.forestpoetry.com/2009/truth-over-economy/

The amerika link is also broken for me using Opera.

Re: Truth over economy and twilight of money
October 19, 2009, 05:18:37 PM
I pasted the URLs in from a VBulletin board which wraps them in quotes. The quotes need to be erased or escaped out (done) for other forum software.

Re: Truth over economy and twilight of money
October 19, 2009, 05:30:45 PM
"MONEY:  A CHILD'S PERSPECTIVE"


A young boy at the feet of his mother

Boy - "Why does dad have to go to work?"
Mom - "To make money."

Why does he have to make money?
So we can buy food and clothes to survive.

Why can people exchange money for food and clothes?
Because money has value.

Why does money have value?
Because money represents gold.

Why does gold have value?
Because people want it.

Why do people want gold?
Shut-up, kid.

Re: Truth over economy and twilight of money
October 20, 2009, 04:37:30 PM
Why do people want gold?
Shut-up, kid.

Because it represents power because it is rare, and therefore makes a good currency; currency enables us to delegate and divide labor.

Re: Truth over economy and twilight of money
October 20, 2009, 11:29:35 PM
Really the only power ever was the hard heart of a killer. Gold is just a couple of abstract layers removed from the mercenary/policeman/soldier/assassin paid with it.

Re: Truth over economy and twilight of money
October 23, 2009, 02:18:44 PM
Really the only power ever was the hard heart of a killer. Gold is just a couple of abstract layers removed from the mercenary/policeman/soldier/assassin paid with it.

ahhh!  well said.  that's downright poetic!

Re: Truth over economy and twilight of money
November 02, 2009, 02:33:53 PM
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Why aren't they worried about the impact of what they're doing? Why do they think America is so strong it can take endless abuse?

I think I know part of the answer. It is that they've never seen things go dark. They came of age during the great abundance, circa 1980-2008 (or 1950-2008, take your pick), and they don't have the habit of worry. They talk about their "concerns"—they're big on that word. But they're not really concerned. They think America is the goose that lays the golden egg. Why not? She laid it in their laps. She laid it in grandpa's lap.

They don't feel anxious, because they never had anything to be anxious about. They grew up in an America surrounded by phrases—"strongest nation in the world," "indispensable nation," "unipolar power," "highest standard of living"—and are not bright enough, or serious enough, to imagine that they can damage that, hurt it, even fatally.

wsj

I met some old Hungarian dude with an Old World outlook way back when. He used to call short-sighted, selfish Americans who run things peasants.

Re: Truth over economy and twilight of money
November 16, 2009, 03:32:51 PM
The sword is victorious over money, the master-will subdues again the plunderer-will . . .  Money is overthrown and abolished by blood. Life is alpha and omega, the cosmic stream in microcosmic form . . . And so the drama of a high culture–that wondrous world of deities, arts, thoughts, battles, cities–closes with the return of the pristine facts of blood eternal that is one and the same as the ever-circling cosmic flow.

-Oswald Spengler