Divine belief in Economics at the beginning of the 21st century
from Emil Urhammer
Drinking the strength of life
from men doomed to die,
spitting the crimson blood
on all the lands of gods;
black becomes the sun
in summers to follow,
weather spells disaster –
Need you know more?With this stanza, I begin my story of the divine belief in Economics at the beginning of the 21st century, when this faith was practised and reached the height of its glory. . . .
The disastrous climate changes that truly came into effect in the second half of the 21st century are mirrored here, and we are sarcastically reminded that extensive knowledge did not serve as sufficient motivation to take the actions necessary to avert subsequent disasters.
Thus many centuries later, it is not easy to give an in-depth explanation as to why countries and governments did so little to avert these self-inflicted disasters, whose nature was known with some certainty and whose arrival was doubted by few. However, there can be no doubt that the divine belief in Economics with its strong anchoring in central authorities and close alliance with society’s elite was of great importance to maintaining the status quo, thus preventing the necessary transitions. Based on this relationship, I find it relevant to direct my searchlight at the divine belief in Economics in the 21st century to highlight certain characteristics of this faith. Hopefully, such an investigation can improve our understanding of the tragic downfall of a civilisation. read more
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—– look inside —– $5.94 / $20.00
—– look inside —– $4.90 / $8.00
—– look inside —– $15.99
—– look inside —– $5.99 / 12.99
—– look inside —– $5.93 / $12.99
—– look inside —– $4.97 / $9.90
—— Ugarteche, Puyana and Madi ——
Gerson Lima / Maria Alejandra Madi
Edward Fullbrook and Jamie Morgan
————— Michael Hudson ————–
Maria Alejandra Madi / Jack Reardon
————- Edward Fullbrook ————-
—————— Steve Keen —————–
————— Richard Smith —————
————– Gustavo Marques————
– Victor Beker and Beniamino Moro –
————– Lars Pålsson Syll ————-
—————– Stuart Birks —————-
Edward Fullbrook and Jamie Morgan
———— Armando Ochangco ———-
Shimshon Bichler / Jonathan Nitzan
————— Mauro Gallegati ————–
————— Herman Daly —————-
————— Asad Zaman —————
—————– C. T. Kurien —————
————— Robert Locke —————-
Real-World Economics Review Blog 
A very interesting story. It is obviously about microeconomics. Another factor that will help bring down the civilization is the deception that the sovereign issuer of currency must budget and spend taxpayer money “wisely” and operate on the same set of constraints that users of the currency must do. In fact, no government expenditures are funded by taxpayer money. All government expenditures can (and should) be made with money created ex nihilo. Instead, in the US, for instance, the money is lent to the government through bond sales and charged to the national debt (which grows exponentially and never will be paid).
This is hilarious! There is pride in believing that people see you as a specialist in economic science who supposedly understands the laws of the economy which, if followed, can end hunger and poverty and bring prosperity for all. Who would not want to be such a person, to do such good for the world, and to be so well paid for doing so? This would make you a high priest, a magician of the highest order.
Well said. Indeed it is a secular high priesthood that worships at the alter of secular materialism and practices pseudo-science and scientism. Books have been written about it and great economists have said as much. Historians have documented it in great detail. And we can see it everyday around us.
Dear Emil and other colleagues,
I have written on this blog enough on the rise of new forms of fascisms in Germany and globally, so let me restrain myself to asking you to please read the headlines of the Financial Times this weekend on “Germany’s Culture War”. It does cover a whole host of aspects on this very subject matter. We are all familiar with the extraordinary heritage of German resistance and should be grateful to it.
On a related note, I remember attending with progressive colleagues from all over the globe, a conference at Goethe Institute in Frankfurt, and signing a petition by students protesting against the relocation of the campus to a new place, as the developer (please check for yourselves how a Jew commissioned his partners to buy the land at the end of the Great War and who was then going to evacuate the students from the campus, where we were only a few years ago. Please also check what has happened to the wonderful educational institute now.)
Nothing can express the extraordinary times we live in again right now as the following poem by Niemoller:
” First they came for the socialists, and I did not speak out – Because I was not a socialist.
Then they came for the trade unionists and I did not speak out – Because I was not a trade unionist.
Then they came for the Jews, and I did not speak out – Because I was not a Jew.
Then they came for me – and there was no one left to speak for me.
Solidarity, friendship, protest and protection are global phenomena, and never traded for money or status or power by anyone who would die honourably rather than change their faith or beliefs. Mainstream stooges of all cruel systems should put their money where their mouth is before they teach others that there is no such a thing “as a free lunch”.