Whether you want to give money to a friend, start subscribing to the fresh York Times or buy socks for your grandma by paying with a credit card, you gotta give part of yourself instead: you pay a tiny or advanced fee, but you always give any information about your tastes, sometimes you pay your own attention, and most frequently you agree to proceed collecting data (and consequently manipulating) by any giant Fintech, with whom you will confirm in his eyes, or his akin institution that you are... yourself.
Welcome to technofeudism...
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Individuals
The eternal fear of humanity for its own technological creations determines the central point of the most popular Hollywood productions. Movies like Terminator is Matrix replicate concerns already known in Frankenstein. Mary Shelley or the ancient epos of Hezjod of Pandora, in which she is simply a construct made by Hephaestus commissioned by Zeus to punish humanity for stealing the gods of fire by Prometheus. All these novels, films and series combine a common subject of singularity: the minute erstwhile a machine, or a network of machines, gains consciousness. erstwhile they look at us, at their creators, and see our weakness, they come to extermination, enslavement or at least very annoying our lives.
The problem with specified stories is that focusing so powerfully on the non-existent threat, they weaken our vigilance to the most real danger. Machines like Alexa or state-of-the-art
AI chatbots, specified as ChatGPT, do not even approach the singularity. They may pretend to think, but they do not – and I think they will never. But even if they are stupid as a shoe, their influence can be devastating, and power over us unlimited.
However, even if you look at it, already for comparatively small money, you can buy deadly machines equipped with facial designation technology, as well as the ability to ‘learn’, which in practice gives them autonomy (as opposed to, for example, drones that people must control from a distance). If these robots are able to get into the building and choose who to destruct and who to spare, what difference do they feel or not?
It is no different for Alexa and akin devices. It doesn't substance if they're just mindless branches increasing out of a larger network of data processing, but making it seem like intelligence. Whether their creators were motivated by curiosity and a desire for profit, not an ominous plan to subjugate mankind.
The only thing that matters is that they have unimaginable power over everything we do – at the command of a most real group of people.
In a sense, this is besides a singularity, although much simplified: “our” invention becomes more independent and powerful than we are, and freely subordinates us to its control. From the time of the industrial revolution, our machines have been "living their own lives": steam engines, web search engines, or applications may and may be ignorant creations, but they make us feel, as Marx put it, like a "wizard who can no longer master the powers of the underground"[2].
Stories of device rebellion besides overlook the fact that singularities do not appear solely through technology. Their arrival must precede certain social and political events. In the erstwhile book, which I addressed to your granddaughter[3], I wondered what it would be like if James Watt invented a steam engine in ancient Egypt:
"He could hope at most that the ruler of Egypt, charmed by his invention, would take the device to the palace and exposure the guests and subordinates, thus showing the creative forces of his empire."
What I'm saying is that the steam engine changed the world, and it didn't end up being a dork in any ruler's salons, due to the massive takeover of common land that preceded his invention: the bulkheads. The singularity known to us present as the large Transformation – the word Karl Polanyi defined the birth of the marketplace society at the turn of the 19th and 20th centuries – was the aftermath of specified events: the plundering of common land possible through the force of the state and only then the invention by Watt of a breakthrough device.
Hard and without anesthesia
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A amazingly akin series led to the emergence of capital in the cloud: first, with the approval of politicians, a common net space was looted, followed by a series of stunning technological breakthroughs: from the search engine Sergey Brin (the creator of Google) to the current surge of applications based on artificial intelligence. In summary,
During the last 250 years, mankind has faced 2 peculiarities. And in no case did the machines gotta gain consciousness. The prerequisite was alternatively the plundering of common goods, the political class involved, and then the technological breakthrough.
That's the Age of Capital. And in the same way, the Age of Capital in Cloud is now hatched. The investigation of its full past will let us to realize how capital in the cloud gained its gigantic power.
[...]
A planet another than this
One of the reasons why we are constantly failing as a leftist is our inability to answer 1 fundamental question, which was erstwhile asked in a bar by a certain man, "the communicative of the block," as he said after seeing that he was dealing with a socialist: "If you don't like it all, what else do you suggest? How would that look? perceive carefully Convince me!’ I didn't even try. Not due to the badger in the bar that I couldn't hear my own thoughts, but due to the fact that I just couldn't give a convincing answer.
However, I was comforted by the fact that in this ignorance they remained and superior to me. Karl Marx, a man without any assurance and imagination, did not go beyond vague divisions over the form of socialism and communism, which were to displace the capital empire. Why? Marx's deficiency of a circumstantial imagination of socialism obscured with a clever excuse: its construction transcends the ability of mediate class intellectuals to sit in British Library halls or discuss in their cozy salons. Socialism was expected to forge itself in the proletariat's fight for its interests – at least that's what Marx claimed. present we know, thanks to the social democratic experiments of the russian Union and Western Europe, that it was wishful thinking: the bottom-up construction of socialism has never worked in any place, ever. But what did I gotta lose? Coming up with the thought of building a real utopia is simply a damn hard task, and dangerous. However, if I can't answer the fundamental question asked in the bar, then getting others to regain our minds, bodies and the environment will be doomed in advance.
A fewer weeks after my chat at the bar, I found a review of my book on how capitalism works and addressed to your granddaughter[16]. It was written by my political opponent, then Minister of Finance of Ireland. He amazed me with a fewer flatteries at the publication, but, as I expected, he reluctantly referred to the change in the strategy I proposed: “Calling the author to introduce “authentic democracy”, as well as the collective ownership of technology and means of production, nothing to his praise of entrepreneurship and taking the initiative”, he wrote. Oops, I thought, here I am. It is time to halt hiding behind our own tirades and put forward a concrete, convincing plan of an alternate strategy – 1 that combines collective ownership of means of production, individual freedom, space for innovative reasoning and technological advancement and, otherwise, authentic democracy.
My goal was clear and bold:
I had to explain how production, distribution, innovation, land use, real estate, money, prices and ants of another things would function in a society with socialized land and capital, including its based on artificial intelligence-powered algorithms and hidden varieties in the cloud.
I had to explain how global trade and money flows would take place. What democracy would be and what functions it would be. I must admit, erstwhile I sat down to write, I was struck by panic, and the work on the book proved to be a real road through the torment.
After about 2 days, I was completely exhausted. all thought about the management of companies or the way money was issued immediately crashed against the wall of my doubts. I couldn't do anything at work. And that's erstwhile I had a flash. What should an author do who disagrees with everything he writes? compose a fresh populated by characters representing different viewpoints that clashed with dominance in my mind.
Finally, there were 3 heroes left. Eva, a erstwhile Wall Street banker who was expected to taxation my task from the point of view of Liberalism, technofeudalism (it would surely appeal to the Irish Minister of Finance mentioned above). Iris, bringing past to a Marxist-feminist position a retired anthropologist who would surely become your favorite. And yet Costa, a superb technologist disappointed in working for large tech, with cognition of capital in the cloud. But there's 1 more thing.
The guy at the bar wanted to know how much his life was going to change in my system, but under current conditions, that is, available technologies, human resources, all our imperfections, etc. In another words, I was not allowed to look forward to more advanced technologies. Or to populate my alternate strategy with people who are more perfect, smarter or nicer than those you can encounter in a bar or looking in a mirror in a toilet. My task was meant to be designed in specified a way that it could be implemented immediately. nevertheless – as I am convinced that past matters, and everything we do is dependent on the way it has chosen, it would be foolish to describe my strategy operating in 2020 – whether and erstwhile my book was to be published – without prior approximation of its birth. I needed a convincing alternate political and social past of the revolution that happened somewhere in the past. As the minute of the fork in alternate past with our time line, I marked the year 2008. In my novel, I wondered what it would be like if the protests and riots caused by that crisis – movements like Occupy Wall Street, Spanish indignados, The protests in Syntagma Square in Greece were successful.
However, I inactive wanted all 3 characters from my post news to be 1 ft in the historical line known to the reader – in our twisted technofeudal reality – so that they could measure and criticize my alternate system. Could this have even worked? To individual who has never encountered discipline fiction literature, this thought may seem ridiculous, but having spent part of my youth – as you know very well – on absorbing technological fantasy, where parallel worlds and wormholes are nothing unusual, I made a decision: in my fresh there will be 2 parallel realities. The first 1 is known to us all day and lives in it by readers, me, Eva, Iris and Costa. The second is an alternate version of our world, in which technofeudism is suppressed by technological development-based socialism. (In my book I called it anarchosyndicism, but the simpler word would be technodemocracy.) past begins erstwhile Costa invents a portal to exchange text messages, so that characters on 1 side can convey a description of their planet to the inhabitants of the alternate world.
The answer I gave to the man in the bar, to the finance minister of Ireland, and which I would repeat to anyone who wants to know the alternate to technofeudalism, I included on the pages of the book Another Now: Dispatches From an alternate Point [17]. In the following paragraphs, I will present the essence of it, disregarding the perspectives, disputes and debates conducted by my 3 heroes, in the form of a brief look at my counterproposal for technofeudalism. You ready to dive into a planet another than this?
Democratisation of companies
Imagine a company where all worker receives 1 share immediately after employment, just like a student's library card after starting his studies. This action, which cannot be sold or leased, provides each worker with 1 vote.
All decisions – employment, promotion, research, product development, pricing, strategy – are taken jointly and employees vote through the company's interior network, acting as a permanent shareholders' meeting. However, equity does not mean equal pay.
The level of pay is determined by a democratic process in which the company's income, after taxation deduction, is distributed between 4 areas: fixed costs of the plant (equipment, licences, media bills, payment of pensions and interest), improvement research, staff salaries and yet bonuses. The distribution of funds between these 4 spheres besides falls by means of a joint vote in which everyone has 1 vote.
In order to increase spending on 1 department, a proposal to reduce it in others should be made at the same time. Competitive proposals are put to the vote, and participation workers measure each of them during digital meetings. If no plan gets the majority's support, the elimination process takes place. Projects that get to the top of the list of preferences are rejected, and votes go to the task from second place. This simple algorithm repeats itself until 1 of the business plans gets more than half the vote.
Having determined what amounts will go to individual sectors of the company, it is time to divided the basic wage equally between all employees – from just employed persons from the office or cleaning staff to leading designers and engineers. And here's the question: how do you decide to divided the bonus? Voting on this issue is somewhat like the celebrated Eurovision Song Contest, where each country receives a set of points to be distributed between another countries. According to a akin scheme, erstwhile a year each worker gets a 100 digital tokens to be given out between his associates. The thought is simple: you separate tokens between employees who, in your opinion, contributed the most to the company's improvement in the past year. After all the tokens have been distributed, the full amount allocated to the bonuses shall then be distributed to the employees on the basis of the number of votes they have received from their colleagues.
The devastation, which in the foundations of technofeudalism would consequence in specified corporate governance, can be compared to a meteorite strike. In everyday relationships, this would free workers from tyranny working exclusively for their management account, but structural changes would go much deeper. First, the link between profits and wages would disappear. In this way, we have not only introduced joint ownership, but we have removed the sharpest class division between the beneficial owners or the pensioners and those who lease them their time in exchange for wages. We have besides disposed of the stock marketplace – only the worker of the company can own the shares, to the 1 he cannot sale or lease – by cutting the vital link between speculation on financial markets and shares. With 1 move, we put an end to financialisation and destroyed funds like Private equity.
We will most likely no longer request the aid of regulators, whose task was to clothe large corporations before they can grow their monopoly. Since collective decision-making is not very applicable for companies above a certain size – for example, employing more than 500 people – shareholders will most likely not decide to make specified companies, and in the case of already existing conglomerates they will vote to break them into smaller companies.
Most of the people I know, including the many yearbooks of students I have taught, are a sign of equality between capitalism and markets. Socialism in their opinion means the end of prices as a means of mediation between producers and consumers. Nothing more wrong.
Capitalist companies are out of the region market, where the added value of employees is taken into account in non-market processes, which then turns into a pension, profit or interest.
The larger the amount of capital in the cloud it turns on, the greater the pension it collects from the society forced to operate on the affected markets.
And the democratized companies I compose about here and in my book Another Now, they better interact with the well-functioning competitive markets on which the curse-free pension and marketplace power concentrated in the hands of a fistful of prices are formed. In another words, by disposing of labour and stock markets, and thus capitalist companies, we open the way to truly competitive production markets and to the process of price formation that drives the spirit of entrepreneurship and innovation, commonly linked, wrongly, to capitalism[18].
What would all this mean for clouders? Bezos, Zuckerberg, Musk and others would discover that they own 1 action in a “their” company that gives them 1 vote.
To all single issue and decision affecting the policies of Amazon, Facebook and Twitter or Tesla would gotta convince most of their associates, shareholders of the same position as them. Controlling capital resources in the cloud, including all-powerful algorithms hidden in his heart, would be democratized, at least within a given company. This, of course, would not diminish the power that cloud capital provides – its essence as a means of shaping human behaviour would stay unmoved – which would make society request additional protection from it.
One of his forms would be Social work Act according to which each corp would be assessed on the basis of a social utility indicator drawn up by panels composed of random citizens, serving as akin judges, chosen from a wide scope of shareholders: customers of the company, members of the community affected, etc. In a situation where the coefficient would fall below the set level, a public investigation could even lead to its deregistration. The second, more likely to be their policy, social safety would be to ban the provision of "free" services.
On our own, we felt the effects of financing services by selling the attention of users to external companies.
Users are turning into cloud-working serfs whose activity strengthens and reproduces capital in the cloud, which further tightens the loop to our minds and actions.
Instead of this illusion of free services in our alternate reality, a microtransaction platform will appear, let's call it “What's on your mind”. Its operation is akin to Netflix's subscription model, but is based on the rule of universality of services provided, known for example from the British National wellness Service. The developers of the application, in order to get our data, would gotta pay consent users, protected by The Digital Rights Act, giving us the right to indicate which data and whom we want to sell. Microtransactions with Digital luminaires Act in practice, they would end the current marketplace based on the model of obtaining our attention. At the same time, any individual utilizing the app would pay its creators for access. Single payments would be small, but in the case of services that attract immense numbers of users, they would be very influential. Wouldn't that shut down people's access to any essential applications they couldn't afford? No, due to the fact that in an alternate system, money would work differently.
Democratisation of money
Imagine that a central bank opens up a free digital wallet to everyone, a free bank account in practice.
To encourage the usage of it, the bank transfers benefits to all user (or basic dividend) all month, making the general basic income a fact. This is not the end, as central banks will pay interest to all those who choose to transfer their money from private bank savings accounts to fresh digital portfolios. In time, full host of people, possibly all, will begin to shift savings from commercial banks to a fresh digital payment strategy and holding blackheads. Doesn't that make the central banks spend quite a few money?
Yes, benefits will should be printed, but not at a rate exceeding the amount of money that came out of central banks, starting in 2008, in order to revive the wobbly private banks[19]. Private banks have already provided sums for the remaining expenses. Central banks simply urge people to transfer money from not very certain private bank accounts to central banks where deposits will be safe. erstwhile people and companies start dealing with this system, all money will stay on the central bank's accounts and will only decision between different accounts and bankers and shareholders will not gain access to any funds they can trade.
In this way, central banks with obedient private bankers will turn into any form of monetary common land. Oversight of their operations, including the amount of money circulating in the strategy and the privacy of transactions, will be exercised by the Financial Supervision Jury, composed of randomly elected citizens and experts from various fields.
What about the investments? In the proposed strategy you can lend your savings to a start-up or a well-developed company, but you cannot buy a part of any company – the shares are divided according to the regulation of 1 worker – 1 share. What you can do is give a direct debt paid out of your savings, utilizing your digital wallet at the central bank or the intermediary, but the following rule is crucial: the intermediary cannot make money from anything, as the banks are presently doing by lending, but must conduct a transaction based on existing funds and their savings.
What about taxes? As you remember, there are 3 types of income in our system. The first is simply a basic dividend paid to citizens to their digital portfolios by central banks. The second – salaries for working in democratised companies, consisting of a basic wage and a bonus. Third, i.e. interest paid to savings account holders by central banks or private intermediaries. no of these sources of income is taxed. There are no sales taxes, VAT or similar. So how is the state financed? By a rigid taxation on all proceeds of 5 percent. Note that this is simply a fixed interest on full income, not profits, preventing the usage of countless accounting tricks and throwing everything into costs to reduce the value of the income from which the taxation will be paid. The only another charges to be collected will take the form of land and commercial property taxes, to which I will return.
As far as global trade and settlement are concerned, the fresh financial strategy would warrant a steady flow of wealth to the countries of the global South, while besides inhibiting global trade and finance disruptions leading to bubble growth and financial crises. My thought is that the full flow of trade and money between areas of different currencies – let's give it to the United Kingdom, Germany, China and the United States – would take place utilizing a fresh digital and global accounting unit, which I decided to call space. If the value of imports of a given country in space exceeds its export, they shall be charged a charge on trade imbalances, the amount of which depends on the size of the trade deficit. And the another way around – if the value of exports exceeds the value of imports, the same taxation is calculated on the basis of the commercial surplus. In this way, we put an end to the mercantilistic urges of 1 country, striving to enrich itself at the expense of another country by selling it goods of higher value compared to the goods imported from it and lending it loans to cover these purchases – in another words, the practice of leasing finance, which permanently forces weaker states into slavery to debt.
In turn, at a time erstwhile besides much money is coming into a given country or its fast outflow occurs, its account denominated in space is charged a balance of payments imbalance charge. For decades developing countries suffered all time investors moved “wise” money Smart Money to countries where they have sensed possible economical growth (e.g. South Korea, Thailand, any African countries) in order to rapidly buy land and businesses before their prices go up. erstwhile the influx of money turned into a tsunami, land and company prices reached cosmic values, thus undermining the hopes of growth dynamics and pumping bubbles. With their inevitable crack of “wise” money began to flow out of the country much faster than it did, leaving behind a ruined population and economy. The flow taxation would impose a taxation on these speculative operations to defend the weakest countries from the harm they cause[20]. The profits from the 2 burdens would then go to the countries of the global South in the form of direct green investments.
Under the rule of “one worker – 1 share – 1 vote”, the strategy has revolutionary consequences: it puts an end to the stock and labour markets and the capital empire, democratises the workplaces and naturally reduces the size of corporations.
The redevelopment of central bank accounting rules towards a common payment and savings strategy will have no little crucial effects: private banks will proceed to operate, but without the function of intermediary in payments and depository of our savings will lose their advantage. In turn, the basic dividend will completely change our way of reasoning about work, time and value, putting the burden of moral distractions accompanying the labour into maintenance. Finally, the currency of space will strike a balance in the turbulent flows of goods and money around the world, preventing stronger economies from reaping benefits at the expense of the weaker, while investing in green solutions in those parts of the planet where they are most needed.
This is how the foundations on which we can rise an economy free from tyranny of capital, and thus without resources essential for technofeudism to extend its dominance over us. However, we inactive have not solved the following issue: how will we liberate society from the tyranny of the pension – the modern variant of the rent that survived the defeat of feudalism by capitalism, and the pensions in the cloud on which techonfeudism is supported?
Space for all in the cloud and on earth
You're done making coffee. The laptop's almost loaded. After a short while you sit with a cup in your hand and browse the morning messages on a website run by the local library. First you find information about the upcoming local referendum, then you read about the conflict of the indigenous people of Brazil for compensation for decades of illegal logging, until you yet arrive at a debate organised by members of the Monetary Supervisory Board on whether the central bank should lower interest rates in savings accounts or rise the basic dividend. For your taste, it's besides dry literature, so, by bypassing the sports department, you click on your favourite section dedicated to archaeology, on ongoing reports from researchers around the world. Well, yet something with the spark!
A review of the information and accompanying sections has prepared for you an algorithm calibrated and supervised by the local media service center owned by the city, which is managed by a group of local residents selected by drawing and election. erstwhile you get tired of an up-to-date overview of information, you control to an online planet map filled with tags hiding another local public media centers you can access with 1 click.
Every time you usage a media facility outside your area, your central bank account comes down with a tiny amount of money to aid finance the useful work of people who supply insight into their world. No ads, no algorithms affecting behavior. Compared to the basic dividend paid monthly by the central bank, the amount you pay for access to the news is small. Besides, you know you're doing the right thing. It spreads out in front of both you and the remainder of the people, civilization. It provides you with a window on the world, where bottom-up and spread across the planet media centers do everything to warrant you "good, diverse and intriguing information, cognition and a small wisdom" – how you can read on your local media provider's website.
You emptied your coffee mug, time to go to work. You open a travel application on your phone, besides prepared by your local supplier, and then choice “work”. A list of various offers from drivers, including information about the nearest bus or tram stop, is immediately developed. You repulsively mention the times of applications specified as Uber or Lyft, those lenn in a cloud utilizing drivers' labour to transform them into a digital proletariat, and passenger data, making them serfed peasants. However, bad memories rapidly flash erstwhile you remember that now it is drivers working on each another and public transport workers who control algorithms – not the another way around. So you walk out of the home in a lively step, knowing that you are no longer at the service of a capitalist company, owned by an invisible shell company, seeing in you something like a robot and a man as a human. Life inactive remains a burden, especially erstwhile we have ruined the climate for good, but at least work is no longer a distress to the soul.
You're already at work looking at voting applications for stockholders. any of them you're in, others you're missing. If you have an thought to improve your work or a fresh product, you print it on a virtual bulletin board and wait for who of your colleagues would like to aid you. If the thought does not encounter any response, you can refine it and re-insert the announcement. Of course, there are no perfect situations. Human nature will always find a way to screw up even the best system, Your coworkers, if they get the majority, they can vote to fire you. But the atmosphere at work is based on shared work from now on, reducing stress and creating conditions for common respect.
On the way home, erstwhile a taxi leaves the buying area, you go back to a sad time erstwhile people had to choose between mortgage and rent to find a place to live. Between surviving in the clutches of bankers and those dependent on landlords. Between the bank debt and the rent. In our world, each region is managed by the region Association, overseeing the division of land into commercial and residential zones, so that the rent collected in the erstwhile invests in social construction in the second zone. As with another bodies, the association authorities are besides selected at random – the algorithm only ensures fair representation of individuals from different groups and communities. The home has ceased to be a origin of constant anxiety, but it has become a place where roots can be planted for years.
Let your imagination tell you the remainder of the elements of life in this alternate reality, and I will item its key component: land ownership and property, or the oldest pillar of both feudalism and capitalism, and the relations of power.
The method of obtaining rent in the commercial region is the mechanics of the Permanent Weighting of Values of the Podnam (SWWP), designed so that the local community can get as much rent from the commercial zones as possible and invest them in residential areas. SWWP works on a akin rule as fair sharing of cake between 2 people: 1 cuts, the another chooses. In the same way, SWWP continuously conducts an auction where current tenants from the commercial region compete with possible tenants.
Once a year, as a current tenant in the trade zone, you must go to SWWP and present the value of your business on the basis of 2 principles. Firstly, the amount of rent that SWWP will calculate will be a fixed sum in relation to the marketplace value of the business you declare – no audits, suffocating bureaucracy, disputes or real property agents. Not bad, huh? And here's regulation number two: anyone, at any time, may apply to SWWP, propose a higher valuation and take your place six months after receiving your consent. The second regulation is to guarantee that you present a actual and accurate valuation of your business. If you give a advanced amount, you'll pay besides much rent. If you underestimate the estimates, you can rapidly regret the decision – the minute individual offers a higher, closer real value, the amount, you lose your seat.
The beauty of SWWP comes from the fact that region associations do not gotta impose rent in commercial zones. It is up to them first to decide which land and buildings will go into the commercial region and which land will go into the residential zone. If the residential area grows besides much, they will run out of money to invest in it. Conversely, expanding the trade area leaves little area for social construction and investment for residents. erstwhile the members of the association cope with the determination of the proportion of the 2 zones, they face a much more hard task: presenting the criteria according to which they will be allocated from social housing investments – including the most attractive ones. And that's where the stairs start. It is then crucial who sits on the jury of the association.
The council of the region Association, issued by election, will dispel the tyranny of landowners and electoral systems aimed at perpetuating a powerful hierarchy of power. The ancient Athenians knew it well and alternatively of the elections they introduced draws – the distant echo of this thought is the Western jury. If anything were to reconstruct common ground in a technologically advanced society, local councils would be the best solution, including randomly elected members.
The same rule can be extended beyond the local level and applied to national governments, where a akin function as local councils would be exercised by the State-wide Council of Citizens. It would service as an experimental field for ideas, policies and rights.
Debates conducted by its members would aid in drafting laws that Parliament would then bow over[21]. In this way, the people again occupy their rightful place in democracy.
Footnotes:
[2] K. Marks, Manifest of the Communist Party, Warsaw 2007, p. 6.
[3] See Chapter 6 in my work Talking to My Daughter: A Brief past of Cap1talism, Vintage 2019.
[16] Book Review Talking to My Daughter Paschala Donohoe, published MH Times" 4 November 2017
[17] AnotherNow: Dispatches From an alternate Present, fresh York 2020.
[18] And I would besides respond to the Irish Minister of Finance, who, in my view, feels that my willingness to dispose of equity markets and private investors with capital is due to hostility towards the initiative of entrepreneurs and innovation.
[19] In April 2023, erstwhile I compose these words, even though the central banks declared to halt further extras to fight large inflation, many bank collapses forced them to issue billions of aid. As I explained in chapter 5, after 2008, central bank money pushed capitalist profits out of the function of fuel driving the full system.
[20] It is worth noting that both taxis are akin to the function that the global Clearing Union was expected to play (in which the equivalent of the cosmos was the bancor currency according to the thought of John Maynard Keynes, presented at the 1944 Bretton Woods conference and the forging of the post-war financial strategy – the United States unquestionably rejected this project, however, due to the fact that at the heart of the global financial strategy there was to be a dollar.
[21] The thought of civilian councils working in parallel with Parliament is, of course, not my invention. This kind of assembly appeared in Ireland, in the form of An Tionol Saorany (We, Citizens). The Council played a key function in the work on abortion law and in the preparation of a referendum on this issue, which was then organised among the Irish people with the consent of Parliament. See D. Van Reybrouck, Against Elections: The Case for Democracy, fresh York 2016
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