The Hidden History of Adam Smith, Father of Modern Economics

The Real Adam Smith: Morality and Markets

Directed by John Norberg (2016)

Film Review

This documentary traces the life and thinking of the father of modern economics Adam Smith. The apparent goal is to correct modern neoliberal distortions of Smith’s views on the free market and laissez faire capitalism. Unfortunately the film introduces a few distortions of its own – for example, it credits Smith’s revolutionary ideas for the current prosperity of the Western world. I believe there is far more evidence that Western prosperity has resulted from cheap fossil fuels, the North Atlantic slave trade, the ruthless Western colonization of the Third World, and the global North’s rapacious exploitation of planet Earth and human labor.

This film also erroneously credits Smith for the concept of the “invisible hand” that directs the (largely mythological) “free market.” According to University of Wisconsin History professor Laurence Dickey, it was actually one of Smith’s contemporaries (J. Harris in his earlier “Essay on Money and Coins”) who invented the term.*

In my view, the chief value of the video is the portrait it paints of Adam Smith as a moral philosopher of the Scottish Enlightenment who was chiefly concerned about the plight of the poor. In fact, Smith theorized that human labor was the main source of a society’s wealth a full century before Karl Marx.

Smith was an ardent opponent of the monopolies (such as the 250 year monopoly the British Crown granted the British East India Company), protective tariffs, and the 1773 Tea Act. Passed mainly to prop up the failing East Indian Company, this law taxed East Indian Company tea more cheaply than tea produced in the North American colonies.*

Smith published The Wealth of Nations in 1776, only months before the American War of Independence. The final section of his seven-volume treatise was highly critical of the immense wealth the UK was extracting from the colonies. He also disagreed with the Crown taxing their colonies without allowing them representation in Parliament.


*Page 260 of Wealth of Nations, edited and abridged by Laurence Dickey. See Reclaiming Adam Smith

**The Tea Act allegedly triggered the 1773 Boston Tea Party.

 

A Major Conventional War Against Iran Is an Impossibility. Crisis within the US Command Structure

Under present conditions, none of Iran’s neigbouring states including Turkey, Pakistan, Afghanistan, Iraq, Turkmenistan, Azerbaijan, and Armenia would allow US-Allied ground forces to transit through their territory. Neither would they cooperate with the US in the conduct of an air war.

Jaime C.'s avatarCounter Information

Global Research, January 04, 2020
Global Research 8 July 2019

First published on July 2, 2019. Revisions, January  4, 2020

**

America’s hegemonic military agenda has reached a dangerous threshold.

The assassination of  IRGC General Soleimani ordered by the President on January 2, 2020 is tantamount to an Act of War against Iran.

President Donald Trump accused Soleimani  of “plotting imminent and sinister attacks”: “We took action last night to stop a war. We did not take action to start a war…. we caught him in the act and terminated him.”

US Defense Secretary Mark T. Esper described it as a “decisive defensive action” while confirming that the operation ordered by Donald Trump had been carried out by the Pentagon. “The game has changed” said Defense Secretary Esper.  

What Next?  

Was the assassination of General Soleimani related to Iran’s military presence in Iraq and Tehran’s support of…

View original post 3,299 more words

Montreal’s Permindex and the Deep State Plot to Kill Kennedy

How the JFK assassination was financed – follow the money.

Featured Image -- 24167

SM's avatarRIELPOLITIK

Source – canadianpatriot.org

“…Matthew Ehret introduces the historical forces shaping the world when JFK become President in 1961, what this young man’s vision was for a post-colonial world of win-win cooperation, how he fought to shut down the Federal Reserve, break up the CIA, and end the Vietnam war. Ehret also takes on the cover up of JFK’s murder and how an Anglo-American intelligence operation coordinated through Montreal carried out the murder”

Montreal’s Permindex and the Deep State Plot to Kill Kennedy

We have arrived at the 56th anniversary of the murder of America’s 35th President John F. Kennedy and too few have come to terms with the tragic forces that both murdered this great leader on November 22, 1963, and attempted to destroy the positive vision of mankind towards which Kennedy dedicated his life.

Now 56 years later, 500 CIA documents remain illegally classified in spite of President…

View original post 332 more words

Venezuelan Opposition Rejects Guaido’s Leadership

Venezuelan opposition leader Juan Guaido speaks at Venezuela's National Assembly in Caracas, Venezuela December 17, 2019

Venezuelan opposition leader Juan Guaido speaks at Venezuela’s National Assembly in Caracas, Venezuela December 17, 2019 | Photo: Reuters

The Venezuelan opposition stated on Sunday that they would not be seeking the reelection of the self-proclaimed president Juan Guaidó. According to their statement, the opposition is choosing to move forward without Guaido, as his corruption and failures have worsened their cause.

The parliamentarians declared themselves in revolt against Guaidó for having used the presidency of the parliament as a personal project to enrich himself.*

“In  2019 that has just concluded, you were the hope of the country, today you are the biggest disappointment, you could be the future, but today you are and you will be the past, you were a dream turned into a nightmare, Juan Guaidó from today your time ended,” the right-wing opposition deputy, José Brito, said this week.

He continued that they will propose that deputy Luis Eduardo Parra is elected as the new president of the Popular Will Party (AN) […]

Continue reading at Telesur


*According to Venezuelan-Canadian sociologist Maria Páez Victor MA, Ph.D., assets the US Treasury seized from the the Venezuelan oil company Citgo were deposited directly to Guaido’s personal bank account. Refer to

Book Review: Invisible Balance of Power

Book Review: Invisible Balance of Power

By Ian Greenhalgh via Veterans Today

The world underwent a seismic change on September 11th, 2001 when the biggest, most blatant false flag terror even yet seen took place–the attack on the World Trade Centre in NYC and the Pentagon in Washington, DC. The official narrative blamed Osama Bin Laden and his Al-Qaeda Islamic terrorist group, a complete fabrication that has had far-reaching consequences.

[…]

It is impossible to gain any meaningful insight into the true nature of these events and the forces driving them from the Western media, both the mainstream and ‘alternative’ forms have been utterly corrupted and co-opted. However, there are still those who seek to subvert the Western narrative and publish the truth about the geopolitics and Machiavellian machinations behind the events of the post 9-11 world.

One such figure is Pakistani author Sajjad Shaukat, in his book, Invisible Balance of Power, first published in 2005 and now republished fourth time in a revised edition, Shaukat examines the phenomena of terrorism and explains how there are both state and non-state actors behind the scenes. An example of the former would be the United States, of the latter, Al-Qaeda is the prime example. The book is packed with solid research and delves far deeper into this murky world than any Western author dares tread.

Shaukat is remarkably even-handed, his analyses notably free of prejudice as he compares and contrasts the tactics and techniques employed by both sides in the so-called ‘War On Terror’. The book contains detailed analysis of Al-Qaeda’s methods–the beheadings, the targeted assassinations, the hostage taking, the suicide bombings and the ambush attacks using improvised explosive devices. However, it also covers the methods used by the United States and it’s allies–the CIA black site prisons and their torture cells, the drone strikes, the kidnappings, the use of private military companies and their mercenaries.

Through painstaking research and in-depth analysis, Shaukat makes a compelling case that both sides in the War On Terror have employed the most cruel and ruthless terroristic methods and are responsible for the deaths of countless innocent civilians, the great majority of them citizens of Islamic countries.

The author goes further by placing this insightful analysis of the War On Terror against the backdrop of the global financial, social and political situation and giving a prescient viewpoint on how international finance and politics have been and will continue to be influenced by the perpetual nature of the wars involving both sides of the War on Terror; how social and economic instability has been created. One might consider this viewpoint to be almost clairvoyant, given recent unrest in France by the Gilets Jaunes and the ongoing violence in Afghanistan, to name just two examples […]

Continued at Veterans Today

A real national public transit strategy is key to tackling the climate crisis

This article is directed at Canada – but has important inclinations for the US, where public transportation infrastructure is even more poorly developed.

gaianicity's avatarCounty Sustainability Group

Investments have to be decoupled from the profit motive and tied to specific goals to transform our transportation systems

Image result for ricochet: A real national public transit strategy is key to tackling the climate crisis

At a hastily convened press conference held outside Montreal’s Beaubien Métro station about a week before the federal election, Liberal candidates Mélanie Joly, Steven Guilbeault, Rachel Bendayan and Geneviève Hinse announced the funding of the Pink Line, a proposed major expansion of Montreal’s primary mass-transit system.

That same week, commuters in Ottawa discovered the new trains of the $2-billion Confederation Line have started breaking down after only a month’s service. Public transit congestion was further aggravated because Ottawa had withdrawn bus service into the city centre, in part to ensure the use of the light-rail system intended to reverse nearly a decade of declining ridership. The Confederation Line, product of a public-private partnership, was delivered two years late and exacerbated the very downtown congestion it was meant to alleviate.

More than…

View original post 2,063 more words

The Benefits of Government Issued Money on the Chinese Economy

Quote

Source: ZeroHedge, Dec 2019

To see how well MMT (sovereign money) works in practice today, we need only look at China, which has built its internal economy on fundamental points of MMT. The Chinese state, the central bank, and both public and private industry are all linked together in a recurring cycle of growth paid for by printing money.

The key point is that even though the money is in the form of loans, it is still capital in the system. Furthermore, that capital is the currency. And, whether printed or lent, the value of the nation’s currency is perceived by the rest of the world as being backed by economic productivity, or devalued by the lack thereof. Confidence in the issuing government and the integrity of the legal system are also related factors. (See the Zimbabwe and Germany examples above.)

The end results of China’s massive money printing are staggering. From 2013 to 2017, China added $25 in assets (debt) for every $1 dollar of GDP—more than 400 percent of its annual GDP. This is a historical first. What’s more, almost 80 percent of it was in shadow banking, unregulated lending with high default rates.

And yet, China’s economy has been slowing for the past decade […]

 

via China’s Economy on MMT

The Social Media Beauty Cult

Too Beautiful: The Social Media Beauty Cult

DW (2019)

Film Review

This documentary examines the link between social media sites that emphasize appearance with a growing incidence of anxiety, depression, and anorexia.

The film features commentary from a psychologist, a sociologist, a philosopher, a former anorexic and a female rapper. The latter has become a strong figurehead in the movement to promote natural, “self-determined” beauty standards.

All agree that women have been dissatisfied with their bodies for generations. Social media sites like Instagram tap into these insecurities by promoting a “new normal,” in which all users must look like supermodels to be rewarded with clicks, likes and emojis.

The video goes on to explore new social media sites devoted to women’s body building cults; the ubiquitous trend to portray women as objects of desire in advertising (remember “sex sells”); and the vicious online attacks directed against women who achieve public prominence in previously male-dominated fields (eg journalism, search, and government. The online attacks directed at these women are always sexualized in a way that dehumanizes them and belittles their appearance.

Typical comments they get include “You’re ugly,” “You’re fat,” “No one would want to fuck you,” and “You must suck in bed.”

Sociologically this phenomenon to relates to a mistaken belief promoted by right wing media that girls and women have “taken over” and that women are better educated and better off financially than men.

 

The health impacts of cell towers

Quote

How are cell towers similar to DDT, an insecticide infamous for its environmental impacts? It’s a good question. On Dec. 8, about 90 local residents asked this question and many more at an event to explore the health and environmental impacts of wireless technology. As new cell towers are being proposed in the area, interest was high, with standing-room only in the Point Reyes Community Presbyterian Church.

The event was sponsored by the West Marin Alliance for Human and Environmental Health, the Point Reyes Coalition for SafeTech and the Ecological Options Network. I spoke alongside Dr. Madga Havas from Canada and Ellie Marks of the California Brain Tumor Association.

I am a physician who has studied and developed policies for environmental toxins for over 25 years. When I learned of a proposal to place a cell tower on my daughter’s school 10 years ago, I dove into the research. What I learned is that wireless technology and infrastructure is a broad environmental and human toxin. We use and are increasingly surrounded by these devices: cell phones, laptops, “smart” watches, “smart” meters and internet routers. Unfortunately, we are told these devices are safe, that we do not really know if there is harm or that the research is inconclusive. Myself and over 250 expert scientists who have looked at this issue conclude the opposite.

To start with, the standard set by the Federal Communications Commission is based only on a single impact: heating of the tissues. This is like a cooking standard, and it ignores other biological effects. Nature and human biology are much more complex than technology. Humans evolved over millions of years in an environment with extremely low electromagnetic radiation. Our bodies use very tiny electrical signals that communicate within a labyrinth of molecules which are critical to the proper development of a fetus and to the healthy functioning of an adult.

In medical school, I learned about only a fraction of the thousands of dizzying interactions within and between cells that regulate reproduction, energy metabolism, the immune system, the gut, the brain and the nervous system. I learned that biology is both intricate and fragile, like a symphonic orchestra in which every instrument must be played perfectly. In studying toxic exposures, I learned that there can be different mechanisms at work that cause harm to our cells and biology.

One of these mechanisms is oxidation, which, like rust, causes aging and the breakdown of DNA, proteins, lipids and other critical molecules. The insecticide DDT causes oxidation, and antioxidants we consume counter this effect. The effect of oxidation on cells has been well studied; scientific literature connects oxidative cellular harm to inflammation and human disease. This mechanism does not involve heat injury.

When non-ionizing electromagnetic radiation is emitted from wireless devices, it passes through us and is variably absorbed in our bodies. The radiation is absorbed by water and blocked by metal. Of 100 peer-reviewed articles on radio frequency radiation and oxidation, 93 studies found a positive result, or resulting damage to DNA, lipids and proteins. This is not a thermal effect; it is a biological effect.

Dozens of studies have linked wireless radiation to sperm, ovarian and embryo harm, and to miscarriage. Neurologic injury is also a worry because studies show damage to nerve cells, the alteration of neurotransmitter levels, the opening of the blood-brain barrier (with large epidemiologic studies indicating memory impairment), behavioral changes and an increase in brain cancer.

Addiction to and the overuse of wireless devices is especially problematic for children. Six studies have demonstrated brain shrinkage—in white and grey matter—in those addicted to electronic devices. A new article in the Journal of the American Medical Association Pediatrics showed evidence of microstructural brain changes and brain shrinkage in children age 3 to 5 years who use an electronic device more than one hour a day.

Studies on cell towers show an increase in cancer in those living within 1,500 feet of towers; other studies show an alteration in stress hormones and blood abnormalities. A significant percentage of people also report non-specific or vague health symptoms, including headaches, fatigue, dizziness, nausea and insomnia when living close to cell towers. Electro-sensitivity is a real disease and more people—from 3 to 18 percent—are reporting vague symptoms when they use wireless devices.

Wireless radiation can also affect the health, behavior and migration of animals. Bees appear particularly sensitive, and plants and trees are also adversely affected. Precaution on all fronts is needed with the placement of cell towers, as the radiation they emit is constant. Once a large cell tower is in place, 5G small cells will follow. Cell towers become a permanent Trojan horse.

 

Cindy Russell, a plastic surgeon practicing in Mountain View, is the executive director of Physicians for Safe Technology. For more information, visit MDSafeTech.org.

 

via The health impacts of cell towers

Brain tumours have overtaken leukaemia as the leading cause of  cancer deaths in children

A direct effect of increased cellphone use in children.

Featured Image -- 24121

Pam Vernon's avatarEnvironmental Health Watch NZ

From phiremedical.org (Physicians’ Health Initiative for Radiation and Environment)

Brain tumours have overtaken leukaemia as the leading cause of  cancer deaths in children 1 (both are associated with EMR exposure). Children today have an unprecedented exposure that is higher than that experienced any generation before them and they have been shown to absorb more radiation than adults.

A five year old can absorb sixty percent more microwave radiation than an adult 2 and exposures in bone marrow can be up to ten times greater 3. Overall, they are more likely to suffer greater biological effects from EMR exposure because:

  • Children’s thinner skulls, and smaller bones allow greater absorption into bone and deeper tissues
  • Children’s brains (especially neonates) can have higher water content and so absorb more radiation
  • Children are smaller (a relatively higher proportion of their tissues may be closer to a point source) 4 5 6

View original post 32 more words