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Back when we were in school we heard the question a million times: “What are you going to be when you grow up?” Some of us had an answer, others were undecided, some had no idea. But we all assumed that the question could be answered. That whatever career we chose already existed. But in a world where technological and societal change means our children’s future jobs likely don’t exist yet, what does that say about the ability to “manage” or “direct” the “economy”? What if I told you that no one could direct the economy, and that that was a good thing? What if I told you that the greatest trick the ruling class ever pulled was getting us to believe we need them in the first place?
SHOW NOTES
Why Economists Are Always Wrong (“Economics” vs. “Catallactics”)
Dear Government, Deliver Us From Freedom
This video stands like a milestone for the road to New Beginnings paved by fundamental truths.
Profound truths are always simple, and Corbett lays it out well: “…no one could direct the economy…” “… the greatest trick the ruling class ever pulled was getting us to believe we need them in the first place….”
Many of Corbett’s episodes and articles tie in well to this road we are now upon. A profound favorite of mine is this 5 minute video Economics in One Image https://www.youtube.com/watch?v=GCz1bVQLF3E
I kid you not…
I, Pencil is extremely enlightening and in a beautiful, aesthetic, high wavelength way.
I recommend listening to the audio in order to capture the beautiful explanation of the miracle of the “invisible hand”.
I, Pencil LINK – https://fee.org/resources/i-pencil-audio-pdf-and-html/
Thanks!
Corbett is an extremely skilled writer. Some of his descriptions and phrases make my jaw drop. I am impressed by the volume of his work, especially when you consider the time it takes to research a topic, plus do his videos, his website, line up interviews, play with the kids, make the wife happy, etc. “Make the wife happy” is probably a tough one to juggle.
…and I enjoyed seeing James in a coat and tie with a different backdrop.
A great video James – thank you! The latter parts of this video ring true with ‘Wicked Problems’. Can a possible decentralised method of interaction be applied to society using ‘Wicked Problems’ without the need for a ruling elite (https://en.wikipedia.org/wiki/Wicked_problem). P.s. I wanted to be a designer as a 16-year-old. That’s what I’ve done since leaving school 19 years ago.
Funny anecdote, Richard. 😉
P.I.M.P. was a program created by Congress…
https://www.youtube.com/watch?v=XPsVhzfSoq0&feature=youtu.be&t=1m38s
“The Politicians are the Pimps and the Voters are the hoes.”
Being an older teenager in the 60’s-70’s, I well remember the Pimps with their colorful clothes and Cadillacs. My High School friend’s sister was the girlfriend of the pimp who ran the town’s local brothel in the Black neighborhood. My High School buddy, Dexter, would shine shoes there to make extra cash, but one night there was gun play…the bullet went through the wall and just missed his heart. I remember him describing the incident to me when in English class after his recovery. One night the local pimp went to the kitchen sink which had a window…a Ft Worth pimp blew him away with a shotgun.
For a small town, my High School years were adventurously animated.
Voters = whores makes more sense, so politicians can be whoremongers.
herrqlys, I like hearing these types of stories…they have value and offer insight to others. Often, I discover I am “not alone” when hearing someone else’s tale.
In the 1950’s, when I was 4-5 years old, my Mother tried to get me to learn the ABC’s. I told her “No. I am going to be a Cowboy when I grow up.” Ha…the Cowboy thing never worked out for me. Westerns were the major TV programs back in the days of black-n-white airways. However, some of the Cowboy values stuck. The flavor of these values can be seen in some old “Rawhide” episodes.
Like all of us, growing up we encounter some interesting influences. During the hot, humid, East Texas summer with no air conditioning of the 5th Grade, I read a lot of adventure and “inventor” books. At night with all the windows open and fans blazing, I would pull my sheets out of the freezer hoping to cool off enough to sleep. These books inspired me and also gave me some ideas of “successful actions”. I still carry some of these “successful actions”.
For example: Make friends and learn from them. So, I rode my bike down to a local TV repair place. This is the era of vacuum tubes — transistors were not around yet. I made friends with the guy who worked there and would ask him questions about electricity, go home and read more about it, then return to him with more questions. He gave me all kinds of World War 2 electronic surplus…meters, headphones, dials, switches, etc. Boy! Did I have fun making stuff, especially a “Man From U.N.C.L.E.” type pen which was a crystal diode radio (no battery needed). I made stuff that looked like the 1950’s spaceship control panels with dials and switches.
Literature started to interest me as I climbed the grades towards High School.
By the 8th Grade I decided to keep a diary. This changed my life.
Before going to sleep, I would log the day… “Went to school. Watch ‘Gilligan’s Island’ and ‘Leave it to Beaver’. Homework. Bed.” After a couple weeks of these very mundane entries, I told myself that I needed to create some kind of activity which had adventure, interest and colorful excitement to it. And I did. I would go do an adventure, whether it was “make a big firecracker out of home-made gunpowder”, or travel on my motorcycle to catch a live Armadillo, or try to train my red-tail hawk, or play a major prank at High School, etc. The next thing I discover is that adventure and excitement starts to naturally roll into my life. Adventure just flowed in naturally.
I still keep a daily log.
Life has been and continues to be an adventurous learning experience.
I am in my 60’s. I still don’t know what I want to do when I grow up.
Although I was academically the highest ranking boy in High School, I was an “Undecided” major when I dropped out of college in 1973. However, in 2008, I graduated in the top 5% of my class with a degree in the Environmental Sciences. Over the years I have held more than 100 different jobs and also have tried literally hundreds of self-employment ideas. Some businesses were very successful. At times, I was in depressing poverty with no heat in the winter and at other times very, very wealthy. Sometimes I was very smart. Other times, I was extremely stupid. I have made lots of money and have lost lots of money. I have “started over” repeatedly. Currently, I am in “start over” mode, but with that said there is a profound “take-away” on many levels when one listens to I, Pencil. I recommend it.
You wonder exactly what industry you work in, Mr. Corbett? Why journalism of course. You are the journalist we rarely ever got to read in the so-called news media. And you’re a writer, if ever there was one: a writer of (video) editorials and investigative journalism. But what matter labels? Just keep up the brilliant work, OK?
Catallaxy or Catallactics – …a community based on exchange and friendship… …Cooperation and exchange are the very basis of human civilization. Economy and central planning are their antitheses…
…The catallactician describes the order of human activity, quantifies and examines it. But directing that order? Managing it? Controlling it? Coercing its participants into a unitary plan of action? This is not even conceivable to the catallactician….
https://www.corbettreport.com/why-economists-are-always-wrong/
I have been reflecting on “catallaxy”.
In the distant past, I had been intimately involved as partners with some business owners who, while very personable, had some uncomfortable business philosophies, such as “destroy the competition” and “covertly suppress employees in their striving to become entrepreneurially financially independent”. One business partner (now a millionaire) once told me that he did not want employees to become too able because they might leave. He also cooperated with businesses in our industry ONLY if he stood to gain the windfall benefit, such as on co-op promotion. I have noticed in the business world, that it sometimes can be ruthless and cutthroat, like a war zone full of conflict with the PR mask of friendliness.
I like …a community based on cooperation, exchange and friendship.
On the note of “catallaxy” and decentralization, I learned something yesterday about the OTC – Over The Counter Stocks. It is somewhat of a decentralized stock market.
http://www.investopedia.com/terms/o/otc.asp
…The phrase “over-the-counter” can be used to refer to stocks that trade via a dealer network as opposed to on a centralized exchange…
…dealers act as market makers by quoting prices at which they will buy and sell a security or currency. A trade can be executed between two participants in an OTC market without others being aware of the price at which the transaction was effected……The price a dealer quotes to a client may very well differ from the price it quotes to another dealer…
The 2007-08 global credit crisis – …Mortgage-backed securities and other derivatives…, which were traded solely in the OTC markets, could not be priced reliably as liquidity totally dried up in the absence of buyers. This resulted in an increasing number of dealers withdrawing from their market-making functions, exacerbating the liquidity problem and causing a worldwide credit crunch….
To me you are still a journalist, James, and at least one more of the questiones you ask have a simpler answer than you suggest.
The basic political question is not “do I need a ruling class?”, or similar. It is “am I competent?”. If your answer is “yes” to that, then you hold power. If it is “no” you hand it to someone else, or you leave it to nature. The only way to rule a society is to make its members say “no, I’m not competent”, and “yes, you are competent”, and the simplest way to achieve that is by physical violence.
On the topic of Bitcoin, I was entertained by a comment from the article “Fed’s Kashkari Says Blockchain ‘Has More Potential’ Than Bitcoin”:
“The president of the Federal Reserve of Minneapolis took aim at bitcoin today, criticizing the ease at which new cryptocurrencies can be created.” Had a good laugh at the irony. I have been noticing more and more comments from big bankers who are getting defensive about Bitcoin. It is not longer a topic they can ignore.
http://www.coindesk.com/feds-kashkari-says-blockchain-potential-bitcoin/
We need to keep in mind that technologies such as these can be easily used by the globalists. Someone else is paving the way, they’ll have the chance to swoop in for the kill.
How can Bitcoin be easily used by globalists as a tool for bad, as you suggest? Do you know much about Bitcoin and blockchain? Personally, I don’t know a huge amount of the intricacies of the system but I’m learning. Bitcoin runs on a system where transactions are immutable and peer to peer and there is absolutely no way someone looking to sabatoge that could do so directly.
I agree with what you said about the globalists trying to exploit this technology in some way. I’ve been thinking about this same thing recently and wondering how exactly they could do this. For one I know that the technology behind Bitcoin, blockchain, is already being widely implemented by corporations and banks as a form of record keeping for transactions. We need to think about how this technology could be used in a nefarious way.
Bitcoin is in no way a silver bullet, but I would rather be using this form of payment than what the globalists have in mind, the biometric control grid government credits system.
I don’t know if these technologies require mining, but one can easilly run a private bitchain. We here at the corbettreport could manage a chain of our own. I don’t see any issues with banksters doing the same and have the parrot media proclaim their currency as the only reliable currency with world government proclaiming everything else illegal.
Like any other technology, bitchain can be abused and used for nefarious purposes.
Do watch the “The secret of Oz by Bill Still”
https://youtube.com/watch?v=Sboh-_w43W8
While I see gold as the only time honored store of monetary value, i.e. the one true money, there are innumerable examples in history where world governments and money changers abused it successfully and robbed people of their working hours. It’s going to happen again surely.
People need to realize that there are no bulletproof, 100% sure, abuse free ways of managing money or currency. Price of freedom is eternal vigilance. We can never allow ourselves to settle down and rest easy.
Price of freedom is eternal vigilance.
I find that what will hurt mass capital based production is getting off the consumerist bandwagon. These industries need to produce to stay afloat and even today we can see many examples of pointless overproduction crashing the entire system.
Where the World’s Unsold Cars Go To Die
http://www.zerohedge.com/news/2014-05-16/where-worlds-unsold-cars-go-die
They’ll need a lot more of those blasts like we had in China to hide stuff like this.
Good find on that article!
I was left flabbergasted whence I first read that. One can look up these locations on google maps and see for themselves. There are hundreds of these lots in form of abbandoned runways, production facilites and the likes.