Posted by: Dr Pano Kroko Churchill | April 30, 2014

Economics is broken

Ah…

economics,

the dismal science.

Economics as we know it today is broken.

That’s the Epiphany.

Economics, unable to explain, to predict, or to protect, it is in serious need of root n’ branch replacement.

Or as I like to say, Economics needs a serious software upgrade. Better yet it needs a new operating system in total. That is what economics needs and that is what’s needed to make our Societies allocate resources and function well with resilience for the future.

Or, to borrow from Alan Greenspan, Economics is fundamentally “flawed”. We need to fix it.

So what we are going to do when our idols are broken?

Whom are we going to pray to? And whose temple we lay the wreaths of success and glory onto? Capitalism, Socialism, Communism, they have all been discredited and are standing around as empty husks devoid of any meaning and use. Useless vessels of ideology empty of meaning and just used as points of reference of where we’ve been. Oh yeah, surely a bunch of idiots still scream in defense of what these ideology empty cups have been and even some new fangled economists are redressing the old theories — but to no good end.

They are all broken, hollow vessels empty of meaning and void of use.

Sorry to break the news to you but we’ve lost our prophets… And the legions of economists who follow them are equally lost in the desert of their pride and ignorance.

It makes one feel rather lost when you discover the “Gods” you’ve been following all along were mere idols. Figurines of faith… and dim servants of a faith driven system that today serves nobody anymore.

Yes there is serious tail to this debacle but that too shall pass.

Yet what concerns me is what we will replace this system of false idols with.

And who will be our prophets now that we’ve had enough of the tea-leaf readers of the 20th century?

It is in times of crisis indeed when we should look beyond what we already know and seek inspiration from the roots.

Because when the carny divinators fail us and the mediums are all wrong, we should ethically and morally change course and look for the real deal.

Not look for those that will lull us to sleep and comfort whispering sweet nothings to our ears — but rather those that will share the occasional harsh word to remind us that we are all just human and part of the bigger picture.

And when they ask me: Where do we look for inspiration?

I simply point all around at Nature.

Nature is the only place of inspiration the world over, and it is gradually diminished, while we consult our faulty brethren for advise and divination.

Prophesies are all written in history and you have but to go look in the past to see the present unfolding.

Truly when there is a time to change we will have to. We shall change willy-nilly, like it or not, or we’ll be dragged kicking and screaming to the perennial cliff and get thrown off the precipice.

Well — don’t worry.

You don’t have to jump just yet; but best prepare our parachute lest we fall without any to the rocks bellow like a modern Icarus who flew too close to the sun and burned his wings.

Pride and Hubris have done for us the same diservice. We thought we were too much of a hotshit.

But best ask the smart questions. Such as “Where do we go from here?”

This is what every smart ass kid ask me these days hoping my answer will somehow magically jive with what they want to hear.

Sorry to disappoint you but I don’t ave the answers. Not even remotely. Don’t have easy answers to give you because it’s not easy and my beliefs might clash with yours.

Don’t know much, but I can tell you where to look.

Where to look for answers — is probably the right answer.

Aristotle said to observe nature first and foremost. I second that… but I also invite you to look inside like Socrates said; and find out what You need, because in our modern world we are already too selfish.

So let’s start simple by finding what we need. And what kind of change we must have.

Let’s look at the change we want and that would be a good start. We want change and we want it yesterday. Fast food culture be damned… We want a change in paradigm. We want a change in our relationship with the wooden idols the economists are praying to…

We want the CHANGE. The change in facilitating the new.

A change of paradigm in order to bring forth the history that will serve us best.

But we need to change course already in our heaads — just in order to experience this beneficial paradigm shift.

And here all around us in the natural world there is plenty of knowledge we can borrow from to bring about this change.

Truly, the most insightful and strikingly innovative ideas for the future of humanity — society and economy — are coming from all directions other than the economics profession.

The Greeks called it ecology. Oikologia = Meaning, the study of our “home” as opposed to economy. Economy – Oikonomia = meaning the laws of our home.

They go together like cookies and milk. You cannot divorce one form the other and expect any functionality. Economy without ecology is a failure. The reverse is true as well.

Ecology offers the knowledge, the insight, and the understanding of the complex systems we are part of. And it also gives credence to the values system that economy is part of. Furthermore, economy can best be understood as a complex adaptive subsystem of rules, laws, and operating principles of Ecology.

Put it otherwise: The hardware – computer interface, screens, visual, sensory tools, network, internet etc — are the emergent life, nature and beings. It is the very planet we inhabit as part of creation, and all the peripherals including humans, animals, and all life forms. These all are equally well represented as parts of the study of Ecology, the web of Life. For simplicity’s sake – let’s call it the network machine for living creatures.

And by comparison, the software operating system method of allocating resources and memory [the RAM] is the economy of the human species. The Economy is just a computer program running in the background to allow us to share resources and encourage certain practices without always falling into conflict. Simply a sharing and rewarding mechanism. In short a game…

Ecology is everything, whereas economy is a subsystem of a subsystem and a fairly changeable lousy piece of code. Code full of bugs and in constant need of software upgrades and rebooting.

Ecology is the master and economy is just a lowly servant amongst the myriad of servants out there.

But economy is fun. A sexy saucy servant girl indeed… Invariably we get caught in her wiles unaware. She’s got drama and flair. She’s got beauty and heartache. She declares winners and losers. In short she’s got everything humans want to entertain themselves.

Yet ultimately it’s still just a game.

Economy is a bloody software game and economists are just the game rule memorists. Economists are the chai-wallahs — servants for the game players. They bring you tea and oranges and occasionally they refill the shisha pipe with snuff and maintain the charcoal fresh and burning.

And all is well while the chai wallah does his job well. But what happens in the heat of the game is a little sinister… because at times the pretty girl [servant – chai wallah] through her charms earns all the attention of the game players and becomes the Mistress of the moment. All lights on her and all ideas stem from her because she is so beguiling.

But only for a moment until you’ve satiated yourself with her lusty charms and realize it’s time to go back to your wife and kids…

Same as what happens every day when we focus on the Economy too much. We miss the big picture. We lose the forest for the bush. Literally we lose the whole world for the bush where babies come from… We are getting lost in the dark hole is not a smart man’s game.

Crawling back up in the vagina where we all came from is not the way to go — no matter how lost you might feel in the moment.

Yet this is what we do whenever we focus too much on the economy and treat her as the Supreme leader of our Lives and forget Nature and her study — the principles of Ecology.

Yet we’ve taken the servant and made her the master because we loved her “game” too much.

What fools we’ve been…

Time to wake up.

Otherwise…

We all go to sleep for ever.

Sure some of us will live a bit longer but the world under just the Economy’s rapacious and avaricious rules is a world on the brink of disaster. A world where we over exploit everything for our needs is not a sustainable one. And like when you get drunk and then the toilet becomes your best friend — we best remember to not overindulge.

But to bring you back down to the daily street smarts let’s examine the dominant ideologies of the last century. The craddle of Communism has crashed. Soviet Union is no more and China is more capitalist with a central Capital economy than even the United States is. Socialism is dead all over Europe and Africa and the autopsy is still pending. Capitalism and Neo-liberalism is bankrupt and with a global 37 Trillioooooon in debt — the world doesn’t know who owes what to whom…

Sadly the ones to understand the collapse of a system are the undertakers. And of those we have plenty. Most of them work for Wall Street and the City and they make money off the corpses falling dead all around them.

The Wall Street reality and the economic mentality that created the problem are the undertakers dujour in the first place.

But in this society we need to understand. We need to understand, in order to face facts and thwart economy’s dominant & pervasive effects on humanity. We need to understand how things work or don’t work for us.

So let’s observe the nature of things as they are:

For the benefit of my American friends’ reality, who are the bastion of our Democracy worldwide — here are some words of wisdom from a friend:

“It is all working quite well for the rich and powerful. In the US, for example, tens of millions are unemployed, unknown millions have dropped out of the workforce in despair, and incomes as well as conditions of life have largely stagnated or declined. But the big banks, which were responsible for the latest crisis, are bigger and richer than ever, corporate profits are breaking records, wealth beyond the dreams of avarice is accumulating among those who count, labor is severely weakened by union busting and “growing worker insecurity,” to borrow the term Alan Greenspan used in explaining the grand “success” of the economy he managed.”
― Noam Chomsky

Look to Nature and the study of nature – Ecology, as the Master of the game and learn from it.

Look to Ecology as a prerequisite knowledge for all economists and a precursor for the development of Sustainable Economics and you’ll be on the right path.

We wrote the book “Carbonomics” A novel study of Economy, which is a compendium and a master thesis on sustainable Economics by observing nature in order to find all the answers and the direction for where to go…

Better yet we’ve got all the answers for where we go next — as humanity.

Yours,
Pano

PS: ___________


Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: