Globalization and some thoughts thereabouts


This is an interesting video where scholars discuss the issues China faces in the future regarding social policy and economic reforms. The problems facing China seem to be a gross magnification of the problems America (most likely all countries of the world) faces, which I have been wondering about without coming to any sort of solution.

Currency Wars: The Making of the Next Global Crisis suggests a conspiracy, a Game of Thrones, between central banks and their governments. I am skeptical that these banks would not rather work together instead. It is worrying that these institutions wielding vast amounts of global power are essentially opaque institutions. Yet, it does not seem possible to be rid of central banking while the world runs on fiat currency. Is a new currency type the solution or is a change in policy the solution? Neither options present themselves. I will like to investigate Milton Friedman’s proposed solution for a computerized central bank.

Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else suggests that we’re living in a world where it’s the global rich versus the global poor. While this is a good piece of journalism that does not overly demonize the super-rich and bemoan the poor, it highlights a critical symptom of a problem no one has yet found a solution for. The Institute for New Economic Thinking forum discusses this problem as well for China specifically.

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