Capitalism, like nuclear power, has been one of our most successful ideas for creating order from chaos, but left unchecked it will swiftly create chaos from order.
It demands our constant vigilance in order not to fail catastrophically. It can go wrong very quickly – and costs for a fortune to clean up when it does – creating decades of horribly unnecessary conditions for those caught in the fallout.
Photo by Pablo Garcia Saldaña is just some volcanic ash looking suitably like nuclear fallout spreading over a city.
This film is full of ridiculous utopian ideas which are completely possible and utterly workable. And even if we could do them, it would take only years to bring them into existence! Don’t waste your time.
You’re only allowed to stay if you were on the guest list we wrote 18 years ago. You are to clean up after your dog. You will work harder, longer, and when you die you’ll be able to know exactly how your privatised hospital is failing. We acknowledge that prison is a crap solution, so have invented Prison-Lite. Failing to acknowledge trends and desires, we’ve made full-time employment cheaper and part-time employment harder. We’re building a big train no one needs or wants, and we’re increasing the size of the armed forces because… that’s what we think is important for some reason. We’re clamping down on innovation, and making sure that you think about everything in terms of money. Especially your local area. But we’ve made it easier to buy water from someone outside your watershed even though it won’t be their water it’ll just be the business that’s.. oh never mind that’s too complicated to explain. But don’t worry because people with asbestosis will be OK, and Northern Ireland might be less corrupt.
We’re most certainly not doing anything about climate change, bank regulation, social inequality, preparing for the robot-cause unemployment boom, regulating biosciences, or ensuring we have a basics sorted.
Still no idea why this wouldn’t work if you think big enough.
One could slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined.
The conjuring trick is to replace our system of private bank-created money — roughly 97pc of the money supply — with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.
Specifically, it means an assault on “fractional reserve banking”. If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.