Hi Indra,
In order to derive the same basic meaning, please substitute "Capitalism "
for Capital if it's more convenient.
In the pure sense, "Capital" describes the socioeconomic system which gives
rise to its beliefs, or -isms.
Indeed, however, modern usage of "capital" has been personalized to include
financial assets and specie necessary to one's personal survival.
Classical economic theory was decidedly realistic and un-gamish. Markets
somehow, magically, bounced back to full production; and slumps, boom and
recovery were plotted as predictable 2 x pi wave functions, sloping ever
so gently upwards. Then a guy names "Keynes" demonstrated that production in
many cases not only slumps, but is also subject-dependent to a great extent.
Interestingly enough, Friedman's early (real, 1950-ish) stuff played on the same
subjective theme, yet his personal take was to envisage Keynes' consumers as
micro-financers in drag trying to guess what the government will do next with
tax revenues and the money supply.
Game-theory wise, von Neuman's model of open competition predicts a winner
take -all -scenario that implicitly impoverishes everyone else.
On the other hand, Nash saw people as having the good sense to see this
disaster looming, and so instead devised a split the difference operator that's
used extensively in gamish, negotiating environments by Ayn Rand lovers and
haters alike.
Until 1987 financial mumbo-jumbo talked of markets in terms of Gauss
101, which is to say Fourrier series and log-normals...but no more. Now the
game's been moved to the domains of Couchy and even (gasp!) Levy. This means
...chaos! Also, of course, that this game's over, and no more will
that greasy, smiling jerk in a coat and tie be able to show you how those stocks
and bonds will predictably float upwards and away under a jagged, yet altogether
comprehensible, function.
This is to say, as well, that bizness skool might just get a lot
harder. Perhaps the curriculum change might involve the replacement of
arithmetic, chug- a- lug, date rape and dress for success with integral,
differential, and matrix. Mandelbrot in, Trump out. Imagine that.
Bill Harris
----- Original Message -----
Sent: Saturday, March 22, 2008 3:26
PM
Subject: Re: Praxis - Fascism.
Ha ha,
I am not so well informed on this, do you mean to say
the
capital as in our day today life or the notion of
capital.Please
let me know.As I seem to find it very
difficult trying to grapple with the
Idea of capital of
late as opposed to the means for survival/living etc.I
find
it difficult to stretch further as I am confronted with the
reality
of how money being made.Is it reality as such
"relaity" or a game, the so
called dynamics of Game
involving the capital..
regards,
Indrakaran.
--- Henry Miller <[log in to unmask]>
wrote:
> how can ethics be the pursuit of a 'non-fascist life'
if
> 'the first
> fascism was the Social Evolutionism of late
Nineteenth
> Century
> Capital'?
>
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