The 2008 financial meltdown is the result of under-regulated markets built on an ideology of free market capitalism and unlimited economic growth. The fundamental problem is that the underlying assumptions of this ideology are not consistent with what we now know about the real state of the world. The financial world is, in essence, a set of markers for goods, services, and risks in the real world and when those markers are allowed to deviate too far from reality, "adjustments” must ultimately follow and crisis and panic can ensue. To solve this and future financial crisis requires that we reconnect the markers with reality. What are our real assets and how valuable are they? To do this requires both a new vision of what the economy is and what it is for, proper and comprehensive accounting of real assets, and new institutions that use the market in its proper role of servant rather than master.
Robert CostanzaRelated topics
assets built comprehensive far follow free fundamental future goods ideology market master now panic problem proper real result servant set state use valuable vision meltdownRelated quotes
Human dignity has long been understood in this country to be innate. When the framers proclaimed in the Declaration of Independence that 'all men are created equal' and 'endowed by their Creator with certain unalienable Rights', they referred to a vision of mankind in which all humans are created in the image of God and therefore of inherent worth. That vision is the foundation upon which this nation was built. The corollary of that principle is that human dignity cannot be taken away by the government. Slaves did not lose their dignity, any more than they lost their humanity, because the government allowed them to be enslaved. Those held in internment camps did not lose their dignity because the government confined them. And those denied governmental benefits certainly do not lose their dignity because the government denies them those benefits. The government cannot bestow dignity, and it cannot take it away.
Clarence Thomas
The time has come for a wholly new approach to economic policy in Britain. The overriding need is for a long-term stabilisation programme to defeat inflation, recreate business confidence and provide a favourable climate for economic growth. At the head of such a programme must lie a firm commitment to a steady and gradual reduction in the rate of growth of the money supply, until it is consistent with our best guess at a potentially sustainable rate of economic growth. Only in this way can inflation be wrung out of the system. But this alone is not enough...An equally important part of a long term stabilisation plan has to be a reduction in the present Budget deficit...Indeed, something akin...to the old balanced Budget discipline needs to be restored: the secret of practical economic success, as overseas experience confirms, is the acceptance of known rules. Rules rule: OK?
Nigel Lawson
Take a moment to remember the times on your own spiritual quest when you felt most enthusiastic. We want to pinpoint the times in which we felt more God conscious and devotional than ever before. Conversely, look at the times when you felt unenthused and do a similar analysis. These questions might help stimulate your thought process: Are you enthusiastic about your existence as a servant of the Lord? Are you enthusiastic to follow the basic principles that will help elevate your consciousness? Are you enthusiastic in the association of saintly people? Are you enthusiastic about what you can experience in your purest state? We must examine our spiritual life on a daily, weekly, and even yearly basis. This examination will help us recognize how various activities and thoughts affect us. We should note how the quality of our experiences varies according to our absorption in the process of bhakti.
Bhakti Tirtha Swami
All of us have masculine and feminine qualities-some of this is genetic, and some of it comes from the profound influence of the parent of the opposite sex. But in the need to present a consistent identity in society, we tend to repress these qualities, overidentifying with the masculine or feminine role expected of us. And we pay a price for this. We lose valuable dimensions to our character. Our thinking and ways of acting become rigid. Our relationships with members of the opposite sex suffer as we project onto them our own fantasies and hostilities. You must become aware of these lost masculine or feminine traits and slowly reconnect to them, unleashing creative powers in the process. You will become more fluid in your thinking. In bringing out the masculine or feminine undertone to your character, you will fascinate people by being authentically yourself. Do not play the expected gender role, but rather create the one that suits you.
Robert Greene
Had it merely called to our attention the existence and exact nature of certain fundamental gaps in economic theory, the Theory of Economic Behavior by von Neumann and Morgenstern would have been a book of outstanding importance. But it does more than that. It is essentially constructive: where existing theory is considered to be inadequate, the authors put in its place a highly novel analytical apparatus designed to cope with the problem.
It would be doing the authors an injustice to say that theirs is a contribution to economics only. The scope of the book is much broader. The techniques applied by the authors in tackling economic problems are of sufficient generality to be valid in political science, sociology, or even military strategy. The applicability to games proper (chess and poker) is obvious from the title. Moreover, the book is of considerable interest from a purely mathematical point of view.
Leonid Hurwicz