3
Aug

The anti-ecology of money

   Posted by: admin   in Economic Collapse

This article by a favourite of mine, John Michael Greer, puts the points that I was trying to make in my head about the flaw in today’s economic systems. Here is an excerpt to give you and idea. Read the rest at the original site

“Last week’s Archdruid Report post built on one of E.F. Schumacher’s more trenchant insights to propose a controversial way of making sense of modern economics. Schumacher, in Small Is Beautiful, drew a distinction between primary goods produced by natural processes, and secondary goods produced by human labor, and pointed out that secondary goods can’t be produced at all unless you have the necessary primary goods on hand.

This is quite true, though it’s a point often missed by today’s economists. There is at least an equal difference, though, between either of these classes of goods and a third class produced neither by nature nor by labor. These are tertiary or, more descriptively, financial goods; they form the largest single class of goods in the world today, in terms of dollar value, and the markets in which they are bought and sold dominate the economies of the industrial nations. To call this unfortunate is a drastic understatement, because the biases imposed on our societies by the domination of financial goods are among the most potent forces dragging the world to ruin.”

This entry was posted on Monday, August 3rd, 2009 at 8:57 pm and is filed under Economic Collapse. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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