#ono

Politicians have often declared that unbridled competition among financial intermediaries promotes failures that will harm the public. Although the evidence that competition does this is extremely weak, it has not stopped the state and federal governments from imposing many restrictive regulations. ↗

— Mishkin

#money

The American share of the crisis began with grossly improper mortgages provided to wholly unqualified borrowers, all directly caused and encouraged by government distortion of and interference in the market. The government’s market deformation and market intervention was in turn the result of two factors: political favouritism and Leftist ideology, on the one hand; and upon the other, corruption: the blatant cooption of such Friends of Angelo as Mr Dodd and of such bien-pensant Lefties as Mr Frank. The stability and efficiency of any market is directly proportional to the amount and trustworthiness of market information. The Yank Congress, for blatantly partisan and ideological reasons, gave out false information to the market, pushing lenders into making bad loans and giving out, with the appropriate winks and nudges, that Fannie (will Americans ever realise how that sounds) and Freddie, imperfectly quangoised, were ‘really just as good as the Treasury’ and were in any case ‘too big to [be let] fail’: which, as it happens, was untrue. Similarly, this moronic mantra of ‘too big to fail’ was chanted desperately and loudly to drown out the warning sounds of various financial institutions on the brink and of the automobile industry. Incomprehensible sums of public money were thrown at these corporations so that they could avoid bankruptcy, and have succeeded only in privatising profit whilst socialising risk. ↗

— G.M.W. Wemyss

#economics #global-economic-crisis #money

With the breakdown of money economy the practice of international barter is becoming prevalent. ↗

— John Maynard Keynes

#economy #fail #money

Obviously, there’s no way of making money that doesn’t hurt somebody somewhere, but there are degrees of scale and immediacy. A merchant prince or a banker or a wealthy landowner isn’t generally required to take responsibility for the people he cheats, screws and starves; society couldn’t function if that were the case. ↗

— K.J. Parker

#economy #money #money

When you want to talk about honor, they want to talk about money. When you want to talk about money, they want to talk about gentility. They either get the notion of honor or they don't. And if they don't, you probably shouldn't be fucking with them. ↗

— Liam Rector

#life #money

Ideology follows the money." "Governments don't protect people, people protect governments." "To accept the legitimacy of the state is to embrace the necessity for war. ↗

— Lawrence Samuels

#complexity-science #economics #human-action #politics #money

Let me leave you with a positive thought. William Shakespeare once wrote: “The more I give to thee, the more I have, for both are infinite.” They call this the Hidden Economy and it is not based on greed or love of money, but on unconditional, selfless, boundless and unstinting Love. ↗

— Etienne de L'Amour

#hidden #love #love

If the world were full of the self-seeking individuals found in economics textbooks, it would grind to a halt because we would be spending most of our time cheating, trying to catch the cheaters, and punishing the caught. The world works as it does only because people are not the totally self seeking agents that free-market economics believes them to be. We need to design an economic system that, while acknowledging that people are often selfish, exploits other human motives to the full and gets the best out of people. The likelihood is that, if we assume the worst about people, we will get the worst out of them. ↗

— Ha-Joon Chang

#economics #free-market #change

... In a ROWE* people don't have schedules. They show up when they want. They don't have to be in the office at certain time, or anytime. They just have to get their work done. How they do it ? When they do it ? Where they do it ? It's totally up to them. Meetings & this kind of environments are Optional. What happens ... ? Almost across the board ! - Productivity goes up - Worker Engagement goes up - Worker Satisfaction goes up - Turnovers goes down - Autonomy .. Mastery .. Purpose - these are the building blocks of new way of doing things." ______________________________________________________________ *ROWE: results-only work environment ↗

— Daniel Pink

#efficiency #effictiveness #engagementm-satisfaction #job #mastery

Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature. ↗

— Thomas Sowell

#economy #politcal-pandering #socialism #music