Call for submissions: Joerg-Huffschmid Award 2017

*** sorry for crossposting – please distribute widely ***

Dear Colleagues, a special “New Years Wish” – please find attached the call for applications for the

JÖRG-HUFFSCHMID-PREIS 2017

Below as well the call in English language.

Where applicable, we encourage you to hand in your work and/or pass the call on to colleagues of whom you thing they may be interested.

The Special New Years Wish, going with it: I hope we can use this as one of the Platforms on which collaboration against the conservative and right movements can be developed further.

All the best ,

Peter

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In memoriam of the scientific work and the political engagement of the critical economist Joerg Huffschmid the call for the Jörg-Huffschmid-Award is published for the 4th time, awarding outstanding works in the field of Political Economy. The aim is to encourage in particular young scholars to take up on the tradition of critical thinking for which the name Jörg Huffschmid is an outstanding mark.

Joerg Huffschmid, who passed away in December 2009, at the age of 69 years, combined in his work astute analyses with a critique of capitalism and political reasoning. As one of the founders of the Arbeitsgruppe Alternative Wirtschaftspolitik, the EuroMemo group and member of the scientific council of attac and the Rosa-Luxemburg Foundation he aimed in his personal, political and scientific life on a socially just society, engaged against the supposed lack of an alternative as it had been suggested by mainstream economics. Therefore the four organisations publish since 2011 the call for the Joerg-Huffschmidt Award.

We invite final degree-theses on level of PhD, Magister, Master and Diploma. The selected PhD-thesis will be awarded with 1500 Euro, the other collected degree thesis will be awarded with 500 Euro. The work should be related to the field of Political Economy, and look, for instance at the following:

  •     finance, trade and industrial policy
  • alternatives to austerity and privatisation
  • militarisation of European foreign-, border-security and armament policies
  • working environment in the era of digitalisation
  • socio-ecological remodelling – the role of digitalisation
  • social and technological innovation and new economic systems

Encouraged are especially theses that apply an approach that brings different disciplines together, integrating economics and approaches from social and political science.

We will consider submissions that had been accepted since April 2015 by a European university/third-level institution in German or English language.[1] Applications are only accepted in electronic form, to be sent before or at the very latest on the 31st of March 2017 to the following address:

Joerghuffschmidpreis@esosc.eu

Please, attach the following:

  • Cover letter
  • Summary of 800 words, showing the link to the scientific work of Joerg Hufschmid
  • CV
  • Academic references that had been provided as part of the graduation process

Members of the Jury:

Axel Troost, Wissenschaftlicher Beirat Rosa-Luxemburg-Stiftung, Mitglied des deutschen Bundestages; Birgit Mahnkopf, Wissenschaftlicher Beirat Attac, Hochschule für Wirtschaft und Recht Berlin; Claudia von Braunmühl, Wissenschaftlicher Beirat Attac, Freie Universität Berlin; Gunter Quaißer, Arbeitsgruppe Alternative Wirtschaftspolitik, Duale Hochschule Baden- Württemberg; Heide Gerstenberger, Wissenschaftlicher Beirat Attac, Universität Bremen; Jörg Hafkemeyer, Wissenschaftlicher Beirat Rosa-Luxemburg-Stiftung, Universität der Künste Berlin; Peter Herrmann, EuroMemo Gruppe, Corvinus University Budapest; Silke Ötsch, Wissenschaftlicher Beirat Attac, Soziologin; Thomas Sauer, Wissenschaftlicher Beirat Attac, Ernst- Abbe-Hochschule Jena; consultative Bärbel Rompeltien

The awarding ceremony is planned for October/November 2017

Contact and further information

Peter Herrmann, herrmann@esosc.eu, and Rahel Wolff, rahel.wolff@attac.de, Koordination Wissenschaftlicher Beirat von Attac Deutschland

You will get a more or less immediate conformation of the submission, if you do not receive this after a week, please contact both coordinators.

[1]            Submissions by members of the four organisations and members of the respective scientific councils will not be considered.

Prof. Dr. habil Peter Herrmann

EURISPES – Istituto di Studi Politici, Economici e Sociali
Via Cagliari 14
00198 Roma
ITALIA

__________

University of Eastern Finland (UEF)
Department of Social Sciences
PL 1627
70211 Kuopio
FINLAND

—-

Corvinus University
Institute of World Economy
Faculty of Social Sciences and International Relations
Fővám tér 8
1093 Budapest
HUNGARY
_________

currently
中南林业科技大学班戈学院
Bangor College CSUFT
中国湖南省长沙市天心区韶山南路498号
Address: 498 Shaoshan Rd(S),Tianxin District, Changsha, Hunan, 410004, China
skype: peteresosc
QQ: 2738027550
mobile: +86.1856 9511474

———–
NEWS, THOUGHTS AND PROVOCATIONS

http://williamthompsonucc.wordpress.com

https://en.wikipedia.org/wiki/Peter_Herrmann_(social_philosopher)

https://www.researchgate.net/profile/Peter_Herrmann

https://www.youtube.com/user/esosceu/videos

Sure: Shock !! – But also Surprise ??

Yes, he made it – and the world is surprised, and comes increasingly to the conclusion that it should not be surprised. Demograph’s a joining democrats, looking for reasons behind the success of demagogues – not just in Trump’s empire to be; and illusionists reflect on the majestic power of the new magician, money. We (can) know since long:

No thing in use by man, for power of ill, Can equal money. This lays cities low, This drives men forth from quiet dwelling-place, This warps and changes minds of worthiest stamp, To turn to deeds of baseness, teaching men All shifts of cunning, and to know the guilt Of every impious deed. But they who, hired, Have wrought this crime, have laboured to their cost, Or soon or late to pay the penalty.[1]

Of course, we may set moral standards against it – and we do this also for a long time as. And with Aristotle we can

seek to define wealth and money-making in different ways; and we are right in doing so, for they are different; on the one hand true wealth, in accordance with nature, belonging to household management, productive; on the other money-making, with no place in nature, belonging to trade and not productive of goods in the full sense. In this kind of money-making, in which coined money is both the end pursued in the transaction and the medium by which the transaction is performed, there is no limit to the amount of riches to be got.[2]

But when it comes to chrematistike, we see another law and are dealing with a disjoined pattern as

there is another kind of property-getting, to which the term money-making is generally and quite rightly applied ; and it is due to it that there is thought to be no limit to wealth or its acquisition.[3]

And as much as it is about money-making, it is also about power-buying. Mr Trump knew well and he bought himself into power – importantly he did so not by bribery (as far as known) and not by the pure impact of a massive propaganda show (which he surely knew to instrumentalise). The real reason is the utilisation of objective factors that shape society,[4] permanently establishing and re-establishing this hegemonic block which is grounded in exclusion and externalisation going hand in hand; and gojg hand in hand with inclusion of some kind. – Indeed, this is a power-basis that is massively making us believe in our own hangmen.

Looking for a concise understanding of this, it is perhaps more interesting to look at the question if

(…) California (will) Leave the US Following Trump’s Victory?

 

Not the answer is of central interest (as is in the case not the answer what finally will happen to the Brexit).

In particular two points are for a long-term perspective more crucial.

(i)

The first quickly to be captured, and we could even leave it with the term short-termism. Still, expanding a bit on this we have to see that ‘strategic decisions’ are increasingly taken as matter of ‘filling gaps’. The fact that gaps are becoming wider, opening more frequent and opening more and more in different spheres are clearly indicating the simple though often forgotten fact of the incoherence of capitalism – and velocity is part of it: the turnover ratio of political ideas reaches the turnover ratio of capital as it both does hand in hand with the headless chicken: high velocity, looking for and picking up corns as fast as possible, as many as possible and wherever it is possible as this is the only way to obtain what is there: here and now as the tomorrow may exist, but does not have anything it can promise and actually secure. Thus rational is to go for the hic and nunc: get the job, even if it is only a project for limited time; consume what you can consume now as this is the only way of guaranteeing that it is there, yu are there and the resources are there.

The question of class – and the supposed dissolution of class-structure – should be relocated into this context. The thesis of the levelling middle-classes (as we find it with reference to James Burnham and Helmut Schelsky)[5] is carrying far – and is conceptually also underlying many debates on precarisation. According to the latter we find – in short – as one of the main features of current developments the lack of stability and security as a ‘phenomenon’ that is increasingly emerging as progressively ‘moving to the centre of society’. At first glance this is surely the case and an increasingly worrying issue. However, should we stop here? Or should we move on[6] to the thesis of ‘proletarisation’? In social science relations are too often reduced to … relations, not acknowledging the relational character. The concept of relationality cannot be discussed in full length, but one of its implications has to be highlighted – one that is also in Marxist class theory not sufficiently considered. Of course, we find at the centre the issue of the property of means of production and, taking it in a wider understanding – the control over the means of production.[7] One important, though underexposed, socio-economic aspect of this is a complex dialectic of inclusion, externalisation and exclusion – a topic that has been developed in the political perspective by Antonio Gramsci and Nicos Poulantzas though.

(ii)

Taking up on such economic perspective brings us to the second aspect, where we are talking about the importance of emphasising the fact that inclusion and exclusion go hand in hand not as matter of being alternatives and not as matter of different spaces or groups. Leaving ‘peripheral’ and ‘niche aspects’ aside, the fundamental pattern is characterised by the fact on overall inclusionary character of development that not only creates new arrays of exclusion but – beyond this fact – depends on its ‘internal exclusion’. The mechanism is well-known from the making of the working class, which is based in the double freedom: disposition of other the labour power and lack of disposition of any alternative commodity for sale than exactly the labour power – Marx elaborated this in chapter 6 of the first volume of Capital.[8] We can formulate this in another way – from the side of a specific sort of ‘externalisation’: In order to be able to externalise executing own labour, by employing workers, it is necessary to grant the same bourgeois rights to the worker, making him/her bearer of the same individual rights. This is the continuation and completion of the bourgeois revolution against the feudal system of which Frederick Engels characterised the first stage by writing that the first needed

the kingdom of free competition, of personal liberty, of the equality, before the law, of all commodity owners.[9]

This means that “Power Relations” as matter of “’Exclusive Inclusion” – as I attempted in the chapter under this tile, writing about precarity – are thus at the centre of attention.[10]

As much as ‘neo-liberalism’ emphasises the need of open markets, and unregulated free-trade we have to acknowledge that this is indeed a strategy of such exclusive inclusion. The fact that this takes place and shape under conditions of a multilayered system: within nations (understood as national economies as captured by the German term of the ‘Nationalökonomie’), within regions (as we can see it for instance in the systematic perihperalisation of the Mediterranean belt of the European Union and globally as attempt to codify the wider centre-periphery-relationship by the Trade Agreements (e.g. TTIPP, TPP, TISA …). To make things a bit clearer – though seemingly more complicated – these three layers (spatiality) are going hand in hand with at least temporality (“pay tomorrow”), substantiality (“pay in another currency”, as for instance expressed in the relationship growth-environment) and not least sociality (“let others pay” – social classes and stratification).

What for instance Jeremy Riffkin and Paul Mason discuss as ‘overcoming capitalism’ – the one by prefiguring the The Zero Marginal Cost Society, the other by directly stating that The End of Capitalism has begun, suggesting for some as Thomas L. Friedman that The World is Flat, is surely not a straightforward process – and it would be foolish to reject what is said. And it would be equally foolish to solely continue by criticising the existing patterns. This said, does not mean to deny the need starkly uncover the old questions and to actually look at current escalations. However, it does mean to see this not simply as escalation of the system crisis (which it is though). Important is to see these developments as part of the overall renegotiation of “ins and outs”. But it means to emphasise that the development is not about exclusion alone. Instead – looking at Brexit and especially Califrexit clearly shows it – leaving is about allowing to stay. Califrexit is a project aiming on securing privileges, not a project against the ultra-conservatism of the future Trump-system. Thus we read in the mentioned Telesur-article

“In our view, the United States of America represents so many things that conflict with Californian values, and our continued statehood means California will continue subsidizing the other states to our own detriment and the the detriment of your children,” said Independence group “Yes California” on its website.

Yes California argues that the state’s population and economy, the sixth biggest in the world, “compares and competes with countries, not just the 49 other states.” The group claims that a split will give the state more control over its trade, security, as well as support diversity and the environment. It is pushing for a vote on the issue in 2019.

Understandable … ? To get a clearer picture we may want to dare a closer look at this ‘sixth biggest in the world’, presenting itself as luxurious, as egalitarian, as open:

This egalitarian style can clash with the Valley’s reality of extreme income polarization. ‘Many tech companies solved this problem by having the lowest-paid workers not actually be employees. They’re contracted out’, Schmidt explained. ‘We can treat them differently, because we don’t really hire them. The person who’s cleaning the bathroom is not exactly the same sort of person.’[11]

Don’t THESE Trump-adversaries have something of the modern slave-owners? Without doubt there is a huge danger looming, and we have to stay alert, being aware of the fact that this step of Trumpism may be the first to something that is much worse. Indeed, there is good reason to return to the question

What Produces Fascism: Preindustrial Traditions or a Crisis of the Capitalist State?

– a question that Geoff Eley already posed some longish time ago. But there is equally good reasons to watch out for the savours: The ‘old conservatives’ like the Merkels, Hollands and Renzis are not really there to offer an answer. The answer can be found, though, if we realistically look for the germs:

On the occasion of two conference – the Seminar ‘Continuidad y Cambios en las Relaciones Internacionales’ at ISRI (Instituto Superior de Relaciones Internacionales Raul Roas Garcia), Havana, looking at the Development

From 5 giant evils to 5 giant tensions – the current crisis of capitalism as seedbed for its overturn – or: How Many Gigabyte has a Horse?

and at the Shanghai Forum, China and Latin America. The Development Partnership of Trans-Pacific-Section looking at

Growth and Development – Complement or Contradiction? Challenges for a Global Agenda

I outlined an approach that works around

five giant tensions, namely the overproduction of goods and the turn of goods into ‘bads’; societal abundance versus inequality of access; abundance of knowledge and its misdirection towards skills; the individualisation of problems and their emergence as societal threat and the complexity of government and the limited scope of governance.[12]

Deeper analysis is necessary, the search for a fundamental change of thinking in economics too – something that will also be a major challenge for social quality thinking.[13]

============

[1] Sophocles, 442 B.C.E.: Antigone, translated by E. H. Plumptre. Vol. VIII, Part 6. The Harvard Classics. New York: P.F. Collier & Son, 1909–14; Bartleby.com, 2001; http://www.bartleby.com/8/6/antigone.pdf

[2] Aristotle, app 335 BC: The Politics; Translated and with an Introduction by T.A. Sinclair; Harmondsworth/Baltimore/Victoria: Penguin, 1962/1972: 43 f.

[3] ibid.: 41

[4] saying utilisation’ does not necessarily mean that this is happening consciously, with a ‘strategic reference’

[5] These references are too often forgotten – finally sociology and social science joined short-termism …

[6] … or return …

[7] The discussion of managing classes will be left out here.

[8] Marx, Karl, 1867 Capital, volume 1, chapter 6: https://www.marxists.org/archive/marx/works/1867-c1/ch06.htm

[9] Engels, Frederick, 1880: Socialism: Utopian and Scientific; https://www.marxists.org/archive/marx/works/1880/soc-utop/ch03.htm

[10] Precarity – An Issue of Changed Labour Market and Employment Patterns or of Changed Social Security Systems; in: Herrmann, Peter/Bobkov, Viacheslav/Csoba, Judit (eds): Labour Market and Precarity of Employment: Theoretical Reflections and Empirical Data from Hungary and Russia; Vienna: WVFS; 2014: 11 – 66; here 25 ff.

[11] Freeland, Chrystia, 2012: Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else; New York: The Penguin Press

[12] see also Herrmann, Peter, 2015: Crisis and no end? Re-embedding Economy into life and nature; in: Environment and Social Psychology (2015)–Volume 1, Issue 1: 1-11; http://esp.whioce.com/index.php/ESP/article/download/01003/pdf_3

[13]            see Herrmann, Peter, forthcoming:

academic bloomers

Something is going wrong in academia – is it a matter of the publishing sector or the awarding system? A sentence in Bruno F. Frey’s article on ‘Publishing as prostitution? – Choosing between one’s own ideas and academic success‘ (Public Choice 116: 205–223, 2003) does not provide the answer, though it importantly poses the question.

A well-known example is Akerlof’s “Market for Lemons”, which was rejected by the American Economic Review and the Review of Economic Studies as being “trivial”, and by the Journal of Political Economy for being “too general” before it was accepted by the Quarterly Journal of Economics, which was instrumental in him winning the Nobel Prize.

Will we be able to contribute to the debate during the next days in Shanghai, addressing conference on

Responsible leadership, global citizenship and the role of education – what might the last 10 years tell us about the next 10 years?

organised at theThe Sino-British College, USST, 上海理工大学中英国际学院 ?

Working from rather different perspectives and interests on the contribution, titled “‘Chinese Higher Education in an International Sitting: Progress and Challenges’” (together with Fan Hong/Rzepka, Remi) was already a challenge. The gain for me, against the odds: becoming even more aware of the difficulties to “put students first”.

If I will still be able total up on the new plan: writing an textbook for economics from and for the lifeworld perspective of which the fundamental is that another world is indeed, possible if it trust in the honesty “grand narrative of small people” as main bulwark against strives and lies of old and new princes, West and East.

see also https://youtu.be/6FJxTwHuotI

Migration

Over the last year or so, a working group on Migration of the Scientific Council of attac –  Association Pour La Taxation Des Transactions Financières Pour L’Aide Aux Citoyens, elaborated a working paper on issues of Refuge and Migration. At the core of the work stood the elaboration of a document that evaluates and assesses the controversy of the topics Refuge/Asylum/Migration from a non-nationalist perspective. It can be seen as an important contribution against the raising nationalism and strengthening of right-wing movements in Europe, which is not least a futile ground of international terrorisms.
A short version of the document – in German language –  is now published in the journal Sozialismus (43/10): 26-30. The full document (also in German language), which is explicitly understood as working and discussion document, can be found by following this link.

Missed opportunity – or Io e Caterina

Topics in the headlines change – though in some cases it is only about names and institutions.

‘Migration’ for quite a while the dominant topic had been surpassed by BREXIT, pushing the GREXIT to a somewhat historical stage, though they apparently catch up again with T May-gie – may be Theresa May, the potential Iron-Lady the II, will once be known this way.

Headlines changes and so do names – or we may say we still find the old names in the headlines, though roles and positions change: Isn’t it a historical irony that Mr B is not only invited by Goldman Sachs for a bit of work, but that he is invited

to advise the bank on the U.K.’s negotiations to leave the European Union

(Sure, asylum policies need to be changed – so he may find a place in the UK …)

Well, from his previous experience he knows at least potentially enough about the European crisis – though it may be that he missed talking to people saying good-bye.

Be it as it is, there is another thing that keeps my mind busy these days – and it is going a bit back in history. The long way back leads to Narcissus, the bit shorter way to part of the history some of us still know too well – it leads back to Hitler, Truman and Adenauer:

There were three fathers of the division of Germany: Adolf Hitler, because the division was essentially a result of World War II and the German genocide. Harry Truman, as he commenced the Cold War against Communism to avoid that the US-war boom would enter into a recession and developed West Germany as loyal province of the United States in Europe. Germany was divided and in addition the exercise terrain for the troops had been secured by the NATO. Konrad Adenauer, who secured with the Federal Republic that for part of Germany the ‘western model’ – he vilified the other part of Germany as ‘Soviet Zone’ and in 1952 he – as well as the United States – declined the offer of the Soviet Union to German unification: ‘It is better to have half of Germany under complete control than having a limited control over the entire Germany’.[1]

Or in other words:

It is better to have a western-democratic FRG than to have a unified neutral Germany.

In the medium-term – or we may say, one of the possible medium-terms – we may look at Lisbon and the pronounced strategy striving for Europe to be the most competitive region.

Without doubt, such classifications, periodisations and emphasis of any historical incisions are always problematic. But paradoxically the closer look at single events and individuals frequently allow us to understand the larger picture.

1987 Maggie T. contended that

there is no such thing as society

and with this she recognised very well where society was going: a utilitarianism led, competition based understanding of society: individuals being responsible for their greatest happiness and not allowing to keep in mind even the slightest notion of the aim: that it should and would be greatest happiness for all. One can and has to say a lot against the classical utilitarians as for instance put forward by Bentham and Mills; but one has to acknowledge that they wer at least loyal to the vision of ‘such thing as society’ and that it would be there forever due to notions of solidarity and responsibility and morality.

And it also meant  that at least in their vision the

bellum omnium contra omnes

was rejected.

Then it could even be translated into a vision like

Better a cooperative Europe, controlled by all instead of a competitive Europe in the interest of s few.

We barely find a discussion that makes this link of conservatism – the link between human beings as individuals and nation states as patriam populum et proprium suum, the fatherland of its own people and property – explicit …, and it seems not to be changing with fatherlands being increasingly motherlands.

And part of this constellation is easily overlooked – for instance also by Juergen Habermas, writing

The Union is put together in such a way that basic economic decisions that affect society as a whole are removed from democratic choice. This technocratic emptying out of the daily agenda with which citizens are confronted is no fate of nature but the consequence of a design set out in the treaties. In this context the politically intended division of power between the national and European levels also plays a role: the power of the Union is concentrated there where nation state interests mutually block each other.

This is of course not wrong – but it is only half of the truth, and committing the other half makes it possible that nationalists reemerge: the other half clearly is: power, in the Western-European countries as power of a minority over the majority … – the sentence

‘It is better to have half of Germany under complete control than having a limited control over the entire Germany’

gets another meaning here than just being concerned with the relationship between two countries – and in the 60s and 70s Juergen knew this too well.

——

Many thoughts had been employing my mind the last days and weeks – reading Camus’ L’Étranger and living a bit like Simmel’s Stranger, remembering Hegel’s Cunning of Reason and facing the Curse of Unreason, the Eclipse of Reason as so we depicted by Horkheimer. But also may others. After talking the one day with Yi about The Other Dimension, I stumbled upon a film-clip about robots: somewhat funny, somewhat frightening. One aspect that caught my special attention: the robot saying to somebody ‘Pleased to meet you’. My question is not ‘can the computer be pleased’ my question is: ‘Did we degrade ourselves to such a low level, did we programme ourselves in that way WE ARE THE ROBOTS?

And this is how we programme students, to be better business-people and better politicians of the future and … smilingly greeting

Pleased to meet you

before they wipe out the lives of real people, taking about BREXIT, though not asking if is

actually the real topic.

Indeed, a missed opportunity, and I still do not see the debate on a

better a cooperative Europe, controlled by all instead of a competitive Europe in the interest of a few.

But I found one sentence in the video on the robots that caught my special attention. The celebration of one of the successes, namely the machine

being able to follow the leader

——

Something else caught my attention, not least these days while the academic world is busy with marking and deciding about the future of lives (spending so much time for administration instead of allowing us to be together with students, learn from each other, work together for a common future).

I recently mentioned the article, dealing with the envisaged future of universities as fun-parks. There is one sentence in the article of which the meaning is easily ignored:

You are also defining the higher-education experience in a way that has nothing to do with academic rigor, with intensive effort, with the testing of students’ boundaries and the upending of their closely held beliefs.

So, the alternative to fun-park is drill and Nuremberg Funnel?

I am excited by those students who come to me after the exams – not to as for a change of their marks, but to ask for more time needed to develop understanding, for gaining trust in a lived and livable future. And I feel ashamed working within a system that does only allow time for competition, offering little time for the real fun:

Man only plays when in the full meaning of the word he is a man, and he is only completely a man when he plays.

This is what the robots cannot do – and this what a competitive robot, ops, a competitive Europe surely cannot offer.

The digital game should never been mixed up with the digitalisation of the player.[2]

And the religion should remain in the church and not enter crusade into the life again – by occupying our thinking ….

And so we have to do the thinking ourselves …, and find the right action

===============

[1]      Es gab drei Väter der Teilung Deutschlands: Adolf Hitler, denn im Wesentlichen war die Teilung eine Folge des Weltkrieges und des deutschen Völkermordens. Harry Truman, denn um die Kriegskonjunktur in den USA nicht in eine Rezession münden zu lassen, begann er den Kalten Krieg gegen den Kommunismus und entwickelte Westdeutschland als loyalste Provinz der USA und Standbein in Europa. Deutschland wurde geteilt und der Truppenstationierungsplatz über die NATO zusätzlich abgesichert. Konrad Adenauer, der mit der Bundesrepublik für einen Teil Deutschlands den westlichen Weg sicherte, den zurückgelassenen Teil als Sowjetzone diffamierte und 1952 – wie auch die USA – das Angebot der Sowjetunion zur deutschen Einheit ablehnte: „Lieber das halbe Deutschland ganz als das ganze Deutschland halb’.

[2]      Watch the eyes, minute 3.28 – sure, all after the initial order at 1:42: don’t speak

How to write a bestseller and get a Pulitzer Award?

I am not sure if I missed something, or if it was just a rumor about some things that went wrong around that time?

What makes capital provision work so well in America is the security and regulation of our capital markets, where minority shareholders are protected. Lord knows, there are scams, excesses, and corruption in our capital markets. That always happens when a lot of money is at stake. What distinguishes our capital markets is not that Enrons don’t happen in America—they sure do. It is that when they happen, they usually get ex- posed, either by the Securities and Exchange Commission or by the business press, and get corrected. What makes America unique is not Enron but Eliot Spitzer, the attorney general of New York State, who has doggedly sought to clean up the securities industry and corporate board-rooms. This sort of capital market has proved very, very difficult to duplicate outside of New York, London, Frankfurt, and Tokyo. Said Foster, “China and India and other Asian countries will not be successful at innovation until they have successful capital markets, and they will not have successful capital markets until they have rule of law which protects minority interests under conditions of risk… We in the U.S. are the lucky beneficiaries of centuries of conditions of risk… We in the U.S. are the lucky beneficiaries of centuries of economic experimentation, and we are the experiment that has worked.”

From: Thomas L. Friedman: The World is Flat; New York: Picador: 2007: 332 f.

Well, the Friedmans, be it Thomas or Milton, don’t understand that we face what James Galbraith calls

The End of Normal: The Great Crisis and the Future of Growth

as reviewed here.
One important point is, and that is another way of thinking about the end of the normal, the need to question the normal or at least part of it. Three (we always strive for trinities) essential parts of the normal were: growth, growth, and some form of regulation – and indeed Friedman talks about such regulation. But what he does not say is that this had been about marginal forms of social distribution, limited control of excesses and in particular/not least about securing the conditions of and for growth. It is interesting that even this is now largely taken away. As we know since recently, namely the leak of the TISA-Annex on the Annex on State Owned Enterprises the role of securing the conditions of and for growth is now under the increasing pressure of being finally, formally and completely handed over to the ‘market’. This is globalisation not simply by imposing specific structures and conditions on other countries but by establishing the control
Freedom and democracy – the flattening of the world by fattening the few global players.

Does one ‘super-corporation’ run the global economy? Study claims it could be terrifyingly unstable

The Network of Global Corporate Control – Research Article

The Network of Global Corporate Control – Annex

Indeed, I took up on some of the issues of the supposedly flattened world not only recently in Havana (here for for a background paper), but now again during the Shanghai Forum, presenting on Growth and Development – Complement or Contradiction? Challenges for a Global Agenda– more information can be found here.