Peer2Politics
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Peer2Politics
on peer-to-peer dynamics in politics, the economy and organizations
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Market Capitalism is Broken: Why Adam Smith Would be Outraged by Modern Finance - Evonomics

Market Capitalism is Broken: Why Adam Smith Would be Outraged by Modern Finance - Evonomics | Peer2Politics | Scoop.it

Every so often a book comes along that works its way into a majority of the interesting conversations you have with both friends and colleagues. Such is the case with Rana Foroohar’s Makers and Takers: The Rise of Finance and The Fall of American Business. Foroohar was kind enough to send me an early draft to read several months ago, and I found myself quoting from it in nearly everything I subsequently wrote, in every talk I gave, and even in various Slack channels at work. Makers and Takers is that rare work of journalism that both appears at a fortuitous moment in history, and captures the essence of that moment’s core narrative.

 

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David Harvey Financialisation and Urbanisation

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How a Flawed Story Hides the Real Danger of Securitization

How a Flawed Story Hides the Real Danger of Securitization | Peer2Politics | Scoop.it
Banks used securitization to unload crappy loans on unwitting investors. This is a dangerously misleading story of the subprime mortgage crisis.
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Buying Up the Planet: Out-of-control Central Banks on a Corporate Buying Spree

Buying Up the Planet: Out-of-control Central Banks on a Corporate Buying Spree | Peer2Politics | Scoop.it

"Finance is the new form of warfare – without the expense of a military overhead and an occupation against unwilling hosts. It is a competition in credit creation to buy foreign resources, real estate, public and privatized infrastructure, bonds and corporate stock ownership. Who needs an army when you can obtain the usual objective (monetary wealth and asset appropriation) simply by financial means?"                                                                                     — Dr. Michael Hudson, Counterpunch, October 2010

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"This Is The Largest Financial Departure From Reality In Human History" | Zero Hedge

We have lived through a credit hyper-expansion for the record books, with an unprecedented generation of excess claims to underlying real wealth. In doing so we have created the largest financial departure from reality in human history. Bubbles are not new – humanity has experienced them periodically going all the way back to antiquity – but the novel aspect of this one, apart from its scale, is its occurrence at a point when we have reached or are reaching so many limits on a global scale. The retrenchment we are about to experience as this bubble bursts is also set to be unprecedented, given that the scale of a bust is predictably proportionate to the scale of the excesses during the boom that precedes it. Deflation and depression are mutually reinforcing, meaning the downward spiral will continue for many years. China is the biggest domino about to fall, and from a great height as well, threatening to flatten everything in its path on the way down. This is the beginning of a New World Disorder…
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Can accountants save the planet?

Can accountants save the planet? | Peer2Politics | Scoop.it
An international movement has begun in the finance world, and a few innovative global companies are starting to look at how nature and society can be included in their bottom line. Accounting historian Jane Gleeson-White on the revolution starting to take place in boardroom, and how it could transform the global economy.
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Academics Who Defend Wall St. Reap Reward

Academics Who Defend Wall St. Reap Reward | Peer2Politics | Scoop.it
Wall Street paid academic experts — and gave money to their universities — whose research supported the financial community’s views on commodity trading.
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