manifesto
What is it?
Comments and observations on a fairly shaky invisible hand affecting economics, politics, culture, governance, regulation and a few other externalities.
“The Other School of Economics” is a (counter)-reference to the ‘Chicago School of Economics’. Reclaiming the agenda back, and creating a hub to articulate and shape some ideas. It’s a dilettante blog that we run casually, and therefore we take that stuff seriously…
Why?
“le laissez-faire, c’est fini :: the Laissez-Faire is Over” * has been revived throughout the last period.
Any great failure should force us to rethink. The present economic crisis is a great failure of the market system. As George Soros has rightly pointed out, “the salient feature of the current financial crisis is that it was not caused by some external shock like Opec…; the crisis was generated by the system itself.”
It originated in the US, the heart of the world’s financial system and the source of much of its financial innovation. That is why the crisis is global, and is indeed a crisis of globalisation.
- Robert Skidelsky
The great neo-liberal experiment of the past 30 years has failed … the emperor has no clothes.
Neo-liberalism, and the free-market fundamentalism it has produced, has been revealed as little more than personal greed dressed up as an economic philosophy.
- The Monthly, Feb 2009
This period has also been a festival on unlikely alliances. Nicolas Sarkozy (French Right Wing president) quoted by Kevin Rudd (Australian Labour PM) in his essay on the Global Financial Crisis is just one of many:
“Neither governments nor the peoples they represent any longer have confidence in an unregulated system of extreme capitalism. As President Sarkozy put it: “Le laissez-faire, c’est fini.” Or, as China’s Vice Premier Wang Qishan reportedly said, somewhat more elliptically: “The teachers now have some problems.”
- Rudd, Feb 2009
Sarkozy quoted by Rudd… the offer to add our 5 cents worth and participate to the debate was becoming too pressing.
Where?
{ media outlet : main blog } http://www.theotherschoolofeconomics.org
{ bloc-notes on the go } http://lelaissezfaireisover.posterous.com
{ archivists & librarians, unite } http://http://www.pearltrees.com/leLaissezFaire
{ Random antepodéan repartee on a few externalities & a fairly shaky invisible hand } http://twitter.com/leLaissezFaire
Who?
Quite a few inspirers and fellows. Two active members who through their jobs and personal interests are diligently taking notes on how those externalities are confronting orthodoxies in economics, politics, education, culture, governance and regulation.
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leLaissezFaire { Paris-Sydney-Melbourne : leLaissezFaire… is over, is back, is here to stay… } |
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NKN { used to be London, now Paris : because ‘le velib, c’est bien’ } - On Pearltrees - Sur LePost.fr |
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* The ‘LaissezFaireisOver’ is a clear reference to the grand ‘John Maynard’ { The end of laissez-faire (1926) }
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