The Malcolm Wiener Lecture in International Political Economy, Delivered by Jean-Claude Trichet

[@noneone.............]

Mr. Jean Claude Trechet. Absolutely great man in International political economics. 🌐♥️

[@Krathor12]

Monsieur Trichet - the greatest there ever was! Markets miss you monsieur!

[@nthperson]

Mr. Trichet expresses an analysis of the global financial problems that is quite mainstream. And, to that extent, he identifies surface causes while ignoring the central issue, which is the privatization of the rents associated with nature (i.e., with what should be treated as societal property). Imputed rents to land and land-like assets are capitalized by market forces into quasi-monopolistic selling prices. When credit is made available at low cost for the acquisition of land the result is a credit-fueled, speculation driven economic cycle of boom-to-bust. Pulling monetary strings cannot solve this problem. The cycle will repeat, as is now the case in many countries where the bottom of the cycle left large numbers of people impoverished, while income and wealth becomes ever more concentrated at the top. There is only one effective response to the land-speculation driven property market cycle. This is the measure first proposed by Mr. Trichets countrymen in the 18th century -- Francois Quesnay, Anne Robert Jacques Turgot and Pierre Samuel du Pont de Nemeurs (and in 1776 repeated by Adam Smith in "Wealth of Nations"). This is for the social collection of the rent of land.

[@PHONEYPOLITICS]

The people of Europe want their freedom and soveriegnty BACK

[@kpjlflsknflksnflknsa]

- a meaningless assertion in the context of a transnational economy.

[@slowmopoke]

wow, i can comment

[@boumedieneayat1965]

Harvard is in each book...You have only to read to be able to lead.....All universities cook with water