m of care – mar 6 25
[https://museum.care/events/finance-is-just-another-word-for-other-people-s-debts-steve-keen/]:
Finance Is Just Another Word for Other People’s Debts / Steve Keen
We are holding a Zoom meeting to discuss David Graeber’s work with the economist and professor Steve Keen.
The focus will be David Graeber’s work: Finance Is Just Another Word for Other People’s Debts.
This piece was originally published in 2014 in which David Graeber wrote about Finance Capitalism and how it evolves around the debts of people.
my notes from article here: david on finance
notes/quotes from meeting:
81 here at beginning.. up to 100
nika: intros steve.. friend of david and intellectual ali..
steve: somebody i thought i’d be working with forever.. things about david i didn’t know before hand.. keen on graeber – pun on my name.. always was.. paper has quite a bit of background of david growing up.. diff than mine.. i started as conservative.. abolish trade unions because thye’re anti competitive.. etc.. shock for me to find all the holes.. ie: 1\ theory of 2nd best.. if 2 steps from nirvana and step toward it.. make it worse.. reduce social welfare.. so switched from market lib who swallow all arguments about efficiency.. and became a political anarchist.. to make decisions in anarchist society have to control powerful people
steve: neoclassical vision of perfect anarchist society.. reaches equilib.. against other powerful anarchists.. they see capitalism not as monetary but of barter.. essence of understanding debt in c econ.. economists.. boring.. leave banks/debt out of their logic..
steve: (charts after charts after charts) this is a pic of debt as nec to c society.. clip of elon: ‘if we don’t do something.. there won’t be money for anything’
ha.. wonder if he really believes that..
steve: showing mind model of economists of how banking goes.. a bit mathematical .. follow the best you can
oooof.. of math and men.. graeber violence/quantification law.. et al
steve: banks actually are intermediaries
steve: your terrified because you have the wrong model.. once have right model.. all those things you feared disappear
steve: wanting to show with this model that problems of fictional world of economists don’t occur in real world
too much for me dear steve.. cancerous distraction.. irrelevant
people saying they don’t get what’s going on in demo.. guy in chat: ‘Steve’ds building a model of actually economy (simplified) – soon showing what the real outcome of the Trump/Musk mis-beliefs are gonna be ‘
ooof
graeber unpredictability/surprise law
steve: on david saying econ’s have models which are false.. david said anthropology is a good model.. correct visions of how it works.. rising govt debt is simply wrong.. we’ve been persecuted by idiots.. david was dead right the economists were wrong
steve: i believe that economists will cause c to collapse.. zealots for making real become what books say
i’m baffled by how into this the participants are..
typed this in chat then decided not to send.. no need to shout into the wind:
we need to try a nother way.. sans any form of measuring, accounting, people telling other people what to do
ie: ‘when one looks a little closer, one discovers that these two elements—the violence and the quantification—are intimately linked.. ‘ .. ‘a social theory of action where surprises/unpredictability are the basis of humanity’ dg
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nika post next day via fb [https://www.facebook.com/photo/?fbid=10162216400508959&set=a.40039648958]:
Steve Keane’s lecture yesterday began with a talk about the reality of the mainstream economy. I found it hard to follow his mathematical teachings — just as it might be hard to follow the evidence of the existence of the god of some medieval monk speaking in his jibrish — but the dry balance is that economists represent the state budget in the form of a household that can go bankrupt on repayment of debts and which cannot afford. you need to keep your ear sharp and tighten your seat belt in case of too much expenses.
perhaps let’s try/code money (any form of measuring/accounting/people telling other people what to do) as the planned obsolescence.. where legit needs are met w/o money.. till people forget about measuring..ie: sabbatical ish transition.. bachelard oikos law et al
The picture of the world of modern economists has little to do with reality, but it works perfectly to line up a vertical of power, where all power belongs to the financial elites who “to save the budget” must cut social spending.
More clear to the unanointed was Steve’s explanation of how the economic abundance model could work, what money is (that’s debt) and how the state creates it.
for who? ie: mufleh humanity law et al.. we need a nother way.. sans any form of m\a\p
None of this is taught in institutes. On the contrary, educational institutions produce “economics” with crazy ideas about the world order: the earth is, like, flat. Who does not agree is a heretic.
unfortunately that seeps into everything we’ve ever tried (talked about).. this is why we just keep perpetuating same song.. nothing legit different to date..
The current European arms race and economic crisis comes precisely because the ruling class has no other ideas than military Kainesianism.
More Steve Keane lectures! Let the light conquer the darkness!
ugh
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be you. 