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Will in Seattle 1
Historically, when any society devotes more than about 5 percent of its GDP to Finance, it will suffer tremendously.

The reasons why matter little, but when Finance was 20% of the GDP, you knew things were out of whack.
Posted by Will in Seattle on January 4, 2013 at 10:57 AM · Report this
Posted by firewalkwithme on January 4, 2013 at 12:22 PM · Report this
Dammit. Once again I was about to post the exact same thing but Chuck beat me to it.
Posted by WFM on January 4, 2013 at 1:26 PM · Report this
treacle 4
Actually, David Graeber points out that, anthropological history-wise, it appears that financialization preceded industrialization by a fair stretch. The common economist myth is that "industry" came first, and "finance" came after.

And yes, we need to look at how humans interact with humans using money... it would appear that our current money-type encourages short-term thinking, selfishness, and greed. How to create a new money that encourages giving, community, and long-term thinking?
Posted by treacle on January 4, 2013 at 2:35 PM · Report this
Graeber's a fool who thinks that capitalism prevented warp drive from being invented.

That's not a joke. And what Mudede wrote makes no sense, it's as if if it was generated by a random sentence program.
Posted by ryanmm on January 4, 2013 at 3:25 PM · Report this
How does metazoan sociality wise an approval? New economics and urbanism heels metazoan sociality beside our mechanism. Finance capital imports biopolicital reading of financialization. Finance capital thinks. Industrial capital migrates over the spiritual. A variant issues from species-specific financialization in a slag. A supreme intervenes in a rock. Gangnam style dictates past mambo dogface banana patch.
Posted by thalia on January 5, 2013 at 8:35 AM · Report this

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