Greek debt crisis is the Iraq War of finance

Guardians of financial stability are deliberately provoking a bank run and endangering Europe’s system in their zeal to force Greece to its knees

Sourced through Scoop.it from: www.telegraph.co.uk

One of the best article on the real hidden agenda of the EU’s financial elites. ‘The EU is worried about political “moral hazard”, about what Podemos might achieve in Spain, or the eurosceptics in Italy, or the Front National in France, if Syriza is seen to buck the system and get away with it.’

See on Scoop.itThe Great Transition

Amartya Sen: The economic consequences of austerity

There can be little doubt that Europe has needed, for quite some time, many serious institutional reforms – from the avoidance of tax evasion and the fixing of more reasonable retiring ages to sensible working hours and the elimination of institutional rigidities, including those in the labour markets. But the real (and strong) case for institutional reform has to be distinguished from an imagined case for indiscriminate austerity, which does not do anything to change a ­system while hugely inflicting pain. Through the bundling of the two together as a kind of chemical compound, it became very difficult to advocate reform without simultaneously cutting public expenditure all around. And this did not serve the cause of reform at all.

Sourced through Scoop.it from: www.newstatesman.com

Absolutely brilliant must-read analysis by Amartya Sen of Europe tragic austerity obsession

See on Scoop.itThe Great Transition

Prosperous Descent: Crisis as Opportunity in an Age of Limits

f the global population is to live safely within the sustainable carrying capacity of the planet, we must be prepared – especially those of us in the developed regions of the world – to reimagine the good life by embracing ‘simpler ways’ of living based on notions of moderation, frugality, appropriate technology, and sufficiency.

Source: www.resilience.org

Worthwhile read on how to live the good life within the planetary limits.

See on Scoop.itThe Great Transition

Questioning the Hype About Artificial Intelligence

Fresh fears about the singularity have prompted new critiques of what it will mean for humanity.

Source: www.theatlantic.com

Excellent analysis in the Atlantic about Artificial Intelligence and the over-optimistic and over-pessimistic narratives about this issue. Great conclusion: "The lesson of AI is not that the light of mind and consciousness is beginning to shine in machines, but rather the dimming of our own lights at the dawn of a new era".

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Spain’s CIC Tries to Build a New Economy from the Ground Up

CIC regards all of this as evidence that the state is no longer willing to honor its social contract with citizens. Accordingly, it has called for civil disobedience to unjust laws and is doing everything it can to establish its own social order with a more humane logic and ethic.

Source: www.resilience.org

David Bollier on the Catalan Integral Cooperative, ‘one of the more audacious commons-based innovations to have emerged in the past five years’

See on Scoop.itThe Great Transition

Weekend read: The trouble with growth

Clearly, belief in the indispensability of economic growth, while deeply rooted in governments virtually worldwide, is quite recent. The common view that growth has always been an important objective of government is mistaken.

That growth is inextricably bound up with human nature is an even greater mistake, if it makes us think that there really is no alternative to economic growth. Understanding that growth is not a necessary goal of government policy is critical if we are to imagine alternative economic futures.

Source: www.greenbiz.com

Great, must-read article by Tim Jackson and Peter Victor – from the new State of the World Report 2015

See on Scoop.itThe Great Transition

From basic income to social dividend: sharing the value of common resources | P2P Foundation

Given the various problems associated with existing basic income schemes, not least of which is funding, issuing social dividends from user fees on shared resources could be a sensible alternative to the tax-funded benefit programs considered above. The social dividend approach would address a number of the concerns that drive proponents of a citizen’s income, such as providing a non-labour supplement to falling wages and incomes, or reducing social and economic exclusion.

Source: blog.p2pfoundation.net

Brilliant must-read analysis of the basic income debate looking at social and ecological alternatives to the current neo-liberal hegemony.

See on Scoop.itThe Great Transition

Civil Power and the Partner State: A Social Solidarity Economy Response to Austerity in Greece

What we are talking about is a new conception: The idea of the Partner State. At its essence, the Partner State is an enabling state. It facilitates and provides the maximum space and opportunity for civil society to generate goods and services for the fulfillment of common needs.

It is a State whose primary orientation is the promotion of the common good, not private gain. And, in contrast to a view of the citizen as a passive recipient of public services, the Partner State requires a new conception of productive citizenship. Of citizenship understood as a verb, not a noun.

Source: www.resilience.org

See on Scoop.itThe Great Transition

The hidden reasons behind slow economic growth: Declining EROI, constrained net energy

the growth in net energy appears to have slowed while EROI of fossil fuels continues to fall. That has led to greater competition for the available net energy and a general rise in fossil fuel prices from 2000 onward. There have been fluctuations, sometimes violent ones, tied to the so-called Great Recession of 2008 and 2009 and to the softening of the world economy in the past year which led to steep declines in oil prices (something which may be telling us there is another recession in the offing).

Source: www.resilience.org

Excellent article by Kurt Cobb on the real reasons behind the world’s low-growth (maybe even degrowth) problem.

See on Scoop.itThe Great Transition

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