This ongoing Financial Institutions debate has prompted an individual totally uneducated in matters economic namely meself to squeeze the "little grey cells of the brain", as Hercule Poirot liked to say, and look for alternative answers. For a long time now my intuition kept whispering in my ear that the "victory" of Capitalism over its most recent demonized antagonist, socialism, would bring about excesses never experienced before. Ideologies, not unlike scientific discoveries and attached argumentations, if unchallenged, have an inclination to be mythologized and hence taken for absolutes. My post WWII generation, knowing that we were rapidly evolving into a "planetary society" and torn between idealism and the need to be practical, tried very hard to reconcile east and west, north and south and face the unavoidable confrontations between materialism and the more noble causes of social justice and civilizational progress.
In other words, we were looking for a "third way". Of course we got nowhere fast. The challenge of our arguments were relentlessly countered by older generations as being well-meaning but naive, as failing to recognize the fundaments of "human nature", the "real world" and all its concomitant characteristics and inevitable conflicts. Depressed by the seeming invincibility of the people in power, most of us gave up and settled into "the system", whatever it was. Luckily, others continued to look for solutions, often at considerable cost to their personal well-being. It goes without saying that once on the road to exploration it becomes well-nigh impossible to turn back and, hold and behold, unimagined rewards are garnered.
One such reward has been discovering the work of lawyer, author and economist Louis Kelso (1913-1991). Among other things, he came up with the concept of BINARY ECONOMICS which I think IS the answer to conventional Capitalism and its endlessly cyclic crisis as exemplified this last week. I think the best introduction to him, apart from looking him up and reading about him, is to watch a 55 minute interview he gave in 1987 to New York Public Access TV pioneer (still going!) Harold Channer. Here it is:
I would be very interested to read your comments and consider how we could spread his work to a larger audience. This information is needed now.
3 comments:
Great! Really - we need to get discussion of alternatives and this is a real start along that practical road. Thanks for the link to the program with Louis Kelso. The upshot of all the Hullabaloo around the Market Rescue Bill may well be moving - unrealized as yet to many if not most - toward a fundamental structural change in the economic order. No matter what the title of any Institutional name is given to any resulting entity it will establish for all practical purposes what Louis Kelso thought of essential and labeled: "Capital Diffusion Reinsurance Corporation" – along with many interrelated developments - within the National pattern. Many very great progressive revolutionary changes could well follow. We should do all we can to urge that on. Let’s try! You have made a great good start. Congratulations. All Best Harold Channer
Giorgio has started a very relevant and important blog about the current economic crisis roiling the nation and world, with particular reference to Louis Kelso and his economic theory which is very likely destined to become a major focus in the months ahead as a new Economic order is seriously considered by both Policy Decision Makers and the General Society. There have also be assertions of his vision under the ruberic of "Binary Economics" - even as some who agree with the larger implications of his vision but object to the term Binary Economics.
It may be self-evident - but as a start for those interested - and the many more who will become interested - I offer as a beginning - a suggestion - as to gaining more knowledge and understanding and relevance of the Issue.
As always in these cyber times one is encouraged to do Google - or other search - with the key words "Louis Kelso" and "Binary Economics".
As to "You Tube" you could do the same. Go to: www.youtube.com and enter either the name "Louis Kelso" or "Binary Economics". There are currently about 40 You Tube links to "Louis Kelso" and about 98 shown using the key words "Binary Economics".
There will be many more as the current crisis is seen in terms of the foundational implications of a Comprehensive "Systems" understanding of Economic Theory which informs the Political and Sociological order in the time ahead. Giorgio's blog provides a very valuable Initiative in that regard.
Comments welcomed
All best
Harold Channer
Georgio, welcome to, not just the third way, but to the Just Third Way. You might want to post your comment on the blog that Michael Greaney and I have recently launched at http://just3rdway.blogspot.com. You may also be interested in the recent paper we published at http://www.cesj.org/thirdway/paradigmpapers/jtw-greengrowth.pdf
In Peace, Prosperity and Freedom, only through Justice, Norm Kurland
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