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An Original DocumentThe Economy is Created
by our ideas, and our actions impacting on the world


  Understanding the lessons your life is teaching you.  





  Economics Homepage

  Thinking V Reality

  Created by Us

  The USA

  Adopting New Ideas

  Economic Failure

  Driving Change

  Globalisation

  Primary Industries

  Self Organisation

  Debt is a Weapon

  Economic Freedoms

  Steady State Economics

The economic system is created by people.  The economy is not how it is because of an act of God or because of some natural state of affairs beyond our control.  The political process has delivered an economic system designed by the already wealthy and the already politically powerful to maintain the wealth and power of those who already have it.  Real democratic activity is rare.

For that reason the economy is constantly running in sub-optimal mode, with the brakes on.  Taxation policy favours the wealthy, the greatest subsidies are paid to friends of the government, and insider knowledge is used to promote the best interests of political supporters.  In economic terms, the market is distorted by insider influence.  There is no level playing field, and the world isn't flat.

In a modern market economy there is a promise of equal opportunity for all, but the promise is false.  If you get an education and you develop useful skills, you might expect to find a place in the economy where you can be both productive and useful.  Be the "best you can be" and live up to the highest ideals.  This is good advice, but it's not a guarantee or a promise of financial success. 

Abundant "wealth" as a promise is currently being marketed as "The Secret", or "The Law of Attraction".  Those's are old myths, based on half truths, compounded by lies.  Our willingness to follow such false trails obstructs our real progress.  We could do better.

The laws of Economics are bitter and tough, but useful.  There is no "free lunch" and everything has a price, a cost and an opportunity cost.  We try to avoid or pass off real costs, and we don't understand "opportunity cost" very well.

Development

What is Poverty

Jacqueline Novogratz tells a moving story of an encounter in a Nairobi slum with Jane, a former prostitute, whose dreams of escaping poverty, of becoming a doctor and of getting married were fulfilled in an unexpected way

This talk is about the aspiration of poor people to lead normal lives.

Jacqueline Novogratz founded and leads Acumen Fund, a nonprofit that takes a businesslike approach to improving the lives of the poor.