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The nature of political economy
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“Hitherto, every form of society has been based on the antagonism of oppressing and oppressed classes.” Karl Marx. The irony around the term “free market” is blatant but constantly overlooked. As inflation grows to dangerous sizes, our currency system is inevitably bound to devalue the dollar steadily until its abolishment and replacement. “Modern Money Mechanics” is an eventually failing process of loans, debt and intrest that will never balance, only worsen and decay. The most recent turning point into this economic slavery, the real estate bubble, bursted due too numerous small variables that are simply fragments of a larger equation. The monopolizing of our monetary system by the FED has thrown us uncontrollably into a downward debt spiral, a maelstrom of worthless paper.
“I do not like money, money is the reason we fight.” Karl Marx. A “free market” economy is based on competition; it is the essence that keeps the momentum of the exchange process. Capitalism allows for a variety of employment options, but the class system still exists, middle and lower class individuals struggle to support themselves and their families because of this wild goose paper chase. The overwhelming desire for money may manifest dangerous ambitions within those at the bottom and the top, people will kill, steal or even enslave to gain more of that precious paper. This struggle is correlated with the idea of competition, but considering all forms of natural competition, there always must be an entity atop the pyramid. The pinnacle of the monetary obelisk is vacated by the most affluent and selfish megalomaniacs our society has concieved, these individuals are those that control the flow of money, therefore the instigation of inflation, a...
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...tion and structural problem is, those that research stumble across the debt system and the moronic fashion that money is created in this country. The fall of the FED will be a difficult and adverse path; even the blind eyes of justice could easily see the corrupt and grievous agenda the pharoes of our legal tender have fashioned. The arrogance of the Seeing Eye is that ironically everyone can see it as well if they search for it; hopefully the sanctuary of these full bellied beurocrats will soon collapse under the inquirey of the population and the hammer of justice. If not our enslavement and debt will only continue until our rights are based soley around credit, the worth of the individual will decrease in contrast to the debt and inflation increase. In the words of the foresighted Karl Marx “The proletarians have nothing to lose but their chains.”
With differing economies and the growth of specie and paper money, Brands argues that the basis of knowledge about the money system of this time lays a foundation for how Carnegie, Rockefeller, and others were able to manipulate the market and gain wealth. Leading into price manipulation by those in corporate
There is perhaps no other political issue in our contemporary society that is more pertinent, pervasive, and encompassing than a nation’s economy. From the first coins used in Greece and the Asia Minor in the 7th century BCE, to the earliest uses of paper money, history has proven time and time again that the control of a region’s economy is absolutely crucial to maintaining social stability and prosperity. Yet, for over a century scholars have continued to speculate why the United States, one of the world’s strongest and most influential countries, has one of the most unstable economies. Although the causes of this economic instability can be attributed to multiple factors, nearly all economists agree that they have a common ancestor: the Federal Reserve Bank – the official central bank of the United States. Throughout the course of this paper, I will attempt to determine whether or not there is a causal relationship between the Federal Reserve Bank’s monetary policies and the decline of the U.S. economy. I will do this through a brief analysis of the history and role of this institution, in addition to the central banking system in general. In turn, I will argue that the reckless and intentional manipulation of the economy by the Federal Reserve Bank, through inflation and the abolishment of the gold standard, has led to the current economic crisis in the United States.
When you get to the point where debt becomes too much you begin to search for a way out. There are many different options to get rid of their debt; one option is the debt snowball. This debt relief option sounds more unusual than it really is.
Money, money, money, money, money. People just care about the Benjamins, the moolah, the cash, the dough— but is it really essential to the human existence, or does society just accept the systematic oppression that comes with the dog-eat-dog nature of our economic system since it benefits the people on top? Monetary gains are all well and good; however, when does it commence to overtake our lives and when does it become our end goal? Instead of relying on money for food, shelter and our overall well-being, society views it as a tool that gives them power over other people, thus putting one’s economic status on a pedestal and making life a difficult competition. So yes, it is a dog-eat-dog world, but that’s not exactly a healthy perspective
...with the person that refused to use his labor. The appearance of money played an important role in the mankind's evolution. Money, in some ways, inspired men to work harder and harder to claim and enlarge his wealth then one's labor would incite others contribution to the nonstop progression and development of human beings. That one's wealth is estimated upon the combination of their mind and labor, diligence and creativeness, bravery and desires .... has become the formula for our success in this competitive world. Definitely, the inequalities of wealth are natural and inevitable.
A “Financial Crisis”, an “Economic disaster on a scale few nations have ever experienced”(1), the “Great Recession”, the “Lesser Depression”, the “Long Recession”, the “Global Recession of 2009”(2) and the “Financial Implosion”(3) are all expressions used to describe the economic situation the United States found itself in 2012. Louis Michael Seidman, a Harvard graduate and Carmack Waterhouse Professor of Constitution Law at Georgetown University Law Center, referred to it as “fiscal chaos”. It is Professor Seidman’s belief that the cause of this great chaos is the “archaic, idiosyncratic and downright evil provisions” of the Constitution. Seidman wrote an article in the New York Times entitled, “Let’s give up on the Constitution”, and argues, due to his personal philosophy, that the Constitution should be abandoned. (4) Seidman fails to acknowledge poor fiscal banking policy, lending to non-qualified borrowers, government bailout of private corporations or perhaps the repeal of the Glass Steagall Banking Act (5) as the sources contributing to the financial crisis. Instead, he places the entire blame on the founding fathers. In spite of Seidman’s ridiculous quibbles, the Constitution should be up held to maintain both the solidity and freedom the United States offers its citizens.
The American economy struggling originates from people taxing themselves as a result of idleness, pride, and folly, leading to a downward economic spiral. For the economy to return to a low unemployment rate and little to no debt people may want to read “The Way to Wealth” in order to learn about industry and how to avoid future money mistakes. Franklin wrote a persuasive sermon in order to convince people to change the financial status created from idleness, pride and folly. In the modern society American people need to create a stable economy for both themselves and the future generations. In order to understand the importance of unemployment rates and debt rates in comparison to Franklin’s “The Way to Wealth” idleness, pride and folly must be analyzed in
Every day in New York City, hundreds of people walk past a huge digital billboard with giant numbers across its face. Each person who walks past this billboard sees a slightly different arrangement of numbers, growing larger every second. This board is the National Debt Clock, representing the over 14 trillion dollars currently owed by the United States. While some people claim that the national debt is caused by the falling economy, most maintain that the debt itself causes the poor economy (Budget Deficits 2007). Rising debt leads to higher interest and investment rates, and cuts into our national savings. Ignoring the national debt leaves the major burden of paying it off to later generations, while meanwhile allowing our country’s economy to further drop and our dependency on other nations to rise.
Over the past few years we have realized the impact that the Federal Government has on our economy, yet we never knew enough about the subject to understand why. While taking this Economics course it has brought so many things to our attention, especially since we see inflation, gas prices, unemployment and interest rates on the rise. It has given us a better understanding of the effect of the Government on the economy, the stock market, the interest rates, etc. Since the Federal Government has such control over our economy, we decided to tackle the subject of the Federal Reserve System and try to get a better understanding of the history, the structure, and the monetary policy of the power that it holds. The Federal Reserve System is the central banking authority of the United States.
For this reason, conflicts are bound to arise because not everyone is getting what they want. This unsettlement and resentment will eventually lead to the inevitable economic disorder we see today as described by Karl Marx over 100 years ago. The capitalist Society initially promised that everyone will benefit, that we will all become wealthy as long as we put in the hard work. It is through our hard work and dedication where success will come. We’ve evolved away from the old feudal ways where you were just born into you economic background and you would remain there until you next life. This old idea of feudalism was abolished because we realize that we are all created equal, what makes you royal is your flesh and blood is the same as I. Feudalism also did not promote any incentive to work hard because you only produced enough for your king and for yourself. Eventually people had their wants and Hennce the inevitable birth of Modern day Capitalism. Through first forms of trading in the medieval time with other kingdoms, we saw early forms of specialism. Like how modern day countries have their very own specialized good, Saudi Arabia with their oil for example, we can use these goods to trade for goods or services. What is creates is efficiency. Though Capitalism is truly a powerful and very efficient in society as we’ve produced more than we ever did, there are certain flaws that are bound arise as
On the Sixth Avenue in Manhattan, there is a national debt clock that shows the amount of United States national debt. The clock was first installed in 1989, and can show up to ten trillion dollars. It ran out of digits in October 2008 when the sum of debt exceeded the amount. A new clock with two extra digits is going to be installed (Izzo 2 ).
As the old saying goes, money is power. As the statistics show, some people have an insane amount of money, yet their fellow countrymen have close to nothing. In a struggling economy, unfair distribution of wealth can create real problems and unimaginable hardships for some people. For example, millions of people pay $2 for a bottle of designer water, while millions more live on less than $2 a day. If this is to one day change, wealthy people must adopt a much more magnanimous conviction towards their money.
The greatest question many have sought to answer is the creation vs. evolution debate. How did we get here? Were we created or did we evolve randomly? Are we the product of purposeful intelligence or are we the result of countless mistakes? Does it even matter? The story of money is similar to the story of humanity. Was money created or did it evolve. If it was created we can assume it will die. If money evolved then we can assume the future is unknown. In his book, The Ascent of Money a financial history of the world, Neil Ferguson historic analysis of money answers many of these questions. Ferguson believes money essentially mirrors mankind, magnifying back to us our progress, failures, values and weaknesses.” (The Ascent of Money, 358) The history of money shares many similarities to the history of man; Ferguson parallels between finance and Darwinism, illustrating the natural mechanism of our financial ecosystem that evolves, creates, competes, and dies.
Capitalism dominates the world today. Known as a system to create wealth, capitalism’s main purpose is to increase profits through land, labor and free market. It is a replacement of feudalism and slavery. It promises to provide equality and increases living standards through equal exchanges, technological innovations and mass productions. However, taking a look at the global economy today, one can clearly see the disparity between developed and developing countries, and the persistence of poverty throughout the world despite the existence of abundant wealth. This modern issue was predicted and explained a hundred and fifty years ago in Karl Marx’s Capital.
“Money is number and numbers never end if it takes money to be happy your search for happiness will never end.” (Bob Marley). For the majority of people in our modern-capitalist world, money is the first thing, and sometimes the only thing that measures success in life. Money can buy power. Money can buy fame. Money can buy time. Sometimes money can even buy a life. So money has become the first common goal for everybody. There are many different perspectives, and how people view the world, in terms of success, and money. Money is not the root of all evil, but the love of money is the root of all evil.