Very accessible, sometimes indulgent writing by Pettifor that explains in relatively simple terms how modern bankking works, and how she sees the banking system can be improved. At the beginning of the book the ideas are explored on a very high level, and using flowery language that damages some of the arguments, but the second half improves and presents some clear ideas with interesting case studies. Worth a read as an introduction to the concepts explored.

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ephemeral_future | 2 andere besprekingen | Aug 20, 2020 |

The Case for the Green New Deal door Ann Pettifor

The case for the Green New Deal: the title says it all; right? Wrong.

This book mentions our climate crisis but occasionally, and in passing. Its main aim is to explain the overthrow of Capitalism. Now, don't get me wrong, I'm as much in favour of the replacement of Capitalism as anyone. It is just that I think that a book which promises this within ten years; leaving sufficient time to sort the climate too, I am sceptical.

I admit that my eyes glazed over in parts as economic obfuscation was practised but, I did not pick up anything which could lead to optimism that this will become a reality within a mere decade. Sadly, I do not see a mass movement clamouring for an alternative system and, even more concerningly, I do not detect a practical alternative within these pages. We must be careful for what we wish: Capitalism will, eventually, be replaced but, unless we have a very clear idea as to its replacement, we could return to a feudal system. Don't expect those who currently have the lion's share of the world's riches to give them up easily. We should also remember that we, in the west, are amongst the wealthiest members of society and glib talk about destroying pension funds will not go down well with many people (me included!)

I found this a bitterly disappointing read.… (meer)

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the.ken.petersen | Mar 14, 2020 |

The Production of Money: How to Break the Power of… door Ann Pettifor

For this layperson, the language was a little too technical for me to follow sometimes, but they were understandable enough to pierce the veil of mystery that surrounds the monetary system. It makes clear that debt peonage, income inequality and economic choices are the outcome of choices made on the basis of ideologies, and it uncovers the intellectual dishonesty that underlies our current canon. It gave me an appetite for further reading on the topic.

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sethwilpan | 2 andere besprekingen | Aug 12, 2019 |

The Coming First World Debt Crisis door Ann Pettifor

Marxist diatribe against bankers,

I bought this book after seeing Pettifor on TV, being credited for predicting the current (2007-onward) credit crises. I guess it serves me right that I did not research who the author was. I thought the book was going to be about economics, or that it would throw some light on the nature and extent of the current crisis. Instead, it is a diatribe from someone who seems to be Marxist-Christian-ecologist.

I did find it interesting that modern Marxists are now speaking with praise of certain classes of businessmen, and even extolling their profit-making. However, this praise is reserved only for those who make "real" things. It is a vague term that is an expansion of the Marxist theory of value, updated to include knowledge work...except financial intermediation.

The book is a rant about modern "usury". I made it into about 30 pages but was falling asleep. So, I've listed my copy on Amazon. I'm writing this review because I don't want anyone buying it with the wrong impression.

The book would be a valuable addition to any college student preparing a paper where he would like to argue about the evils of "globalization", how bankers are usurers who are driving us to exhaust the planets resources, or how the gold standard was like a corset. For everyone else, it's pretty much useless.… (meer)

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realistTheorist | Sep 25, 2009 |

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