tag:blogger.com,1999:blog-5375681131276548542.post3786584003191924508..comments2024-02-27T10:53:04.581+01:00Comments on paperpools: moral hazard revisitedHelen DeWitthttp://www.blogger.com/profile/07619602559096610012noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5375681131276548542.post-26240933567865746562012-04-02T21:30:42.954+00:002012-04-02T21:30:42.954+00:00Morales wrote this as the intro to his "Credi...Morales wrote this as the intro to his "Creditism - The Global Credit Economy" global economic theory back in 2003.<br />"Abstract<br />The dangers of credit use and expansion have been suggested through the works of authors and playwrights for thousands of years. In sources ranging from the Christian Bible to more recent works such as David Harvey’s “The New Imperialism” these warnings about credit have been clearly stated. Countries participating in the Global Economy, even those with comparative skills, like technologies, and natural endowments enjoy different level of access to world credit markets. These uneven conditions have been brought about by a new Imperialist Credit Culture, which has taken root and is hidden in the imperfections of the once powerful capitalist economic system. In this work the source of control will be refer to as the International Credit Consortium (I.C.C.); this I.C.C. while avoiding any risk of association for the “Moral Hazard” (“Moral Hazard” Horkheimer/Adorno) of: <br /><br />(1) involving labor markets of periphery and semi- periphery <br />(2) Economic systems - behind a vial of international cooperation.<br /><br />The World Trade Organization (W.T.O.) supports a disassociation of human/world culture responsibilities for those countries, each counties, populations are only the responsibility of their domestic governments and not the ICC even though use of labor and commodity resources are gathered and used by these multinationals removing power and economic influences from local governments and populations. The Consumer market of the United States - “The Core Economy” (The Capitalist World-Economy Immanual Wallenstein: 1979), which is now based upon consumption value and not labor value of the individuals in this market place – serves only as a source of credit value and neither collects real-values of capital nor production at any level.<br /><br /><br />Perhaps, could he have spelled, someone would have noticed in time?Anonymousnoreply@blogger.com