CAPITALlessISM
Should Greece pay back the capital ‘’lent’’ by the I.M.F. and the European Union… or not??!!!!By Dr. Anthony Horvath
Greece is bleeding to death …
Legally, Greece should not default paying interest on its national debt , because it would create a precedent for financial anarchy. But morally, maybe the I.M.F. should not push to the wall and require repayment of any rescue capital packages either. In the meantime maybe we should examine the option of an EXISTENTIAL NATIONAL DEBT DEFAULT be emerging nations as bankruptcy option. At least this is the opinion, of Dr. Anthony Horvath, the author of a controversial new economic philosophy, CAPITAL-less-ISM, soon to be published. http://www.capital-less-ism.com/ In his dynamic model, he envisions the economy as a gigantic circulating financial information (capital) system much the same way as the blood is circulating in the human body. The similarities are striking. Blood circulation sustains the functioning of trillions of cells… capital circulation sustains production/consumption of billions of humans. Capital must circulate freely as the blood, otherwise capital ‘’clotting’’ will DEPRIVE enterprises, institutions and people suffocating the entire economy.
According his controversial views on the I.M.F. and the World Bank, the role of the international community (in occurrence the European Union… or the United Nations), on humanitarian grounds would be to help with the development of emerging nations and crisis stricken countries, much the same way as a mother is nourishing the fetus. Or much the same way as blood transfusion is administered to an injured person, capital ‘’transfusion’’ to ‘’sick’’ nations is like a blood transfusion: not reimbursable. Have you ever heard that a blood transfusion is ‘’reimbursable’’ to the donor? …so following the same logic relief funds for developing nations should be a continuous donation as well. It should continue until its economy has developed into a self-reliant autonomous economy. The criterions of such an economy is, where his consumer/survival needs has become in equity with his production capacity. Yes, with restrictions off course: such as the donor nations, besides providing capital, should also provide essential survival means (shelter, food, sanitation etc.), then education, health-care infrastructure, industrial infrastructure. So that in time its people and institutions will be able to take care of themselves… At the same time, the developing nation should accept education, health-care, and industrial know-how as guidance. We explicitly mention the word guidance and not colonizing policies.
The ultimate aim of such a concerted effort towards the developing economy should be: to decrease the unemployment to zero instead of aiming to decrease the national deficit to zero. We can also visualize this in nature. The same way also as the fetus is nourished by the mother until its development is complete, in exactly the same way the international community’s financial blood circulation role is to feed the ‘’fetus’’ nation until it is ready to function as an autonomous manner. So austerity measures on spending, on job cuts… are counterproductive.
For the DEVELOPMENT of the EMERGING NATIONS CAPITALLESSISM reinvents a NEW ROLE for the new IMF,
The INTERNATIONAL MONETARY FUND,
copied on the model of the HUMAN FETUS DEVELOPMENT PROCESS. …It should be called the: … INTERNATIONAL ‘’MOTHERING’’ FUND.
As the mother feeds the fetus to nurture its development into an independent person, the same way the new IMF should nurture the development of emerging nations or redevelopment of nations in crisis. (After either a natural or man-made disaster)
So nations like Greece, Spain, Argentina, Portugal, Haiti, Portugal and many desperate third world countries should benefit from this INTERNATIONAL MOTHERING FUND . This would be like the IMF, World Bank, World vision, Unesco, Oxfam and Medecins sans frontiers, all re-united under a unique umbrella of a new UNITED NATIONS with increased powers, ready to intervene, to train, support the new leadership and finance industrial development. Their role in short term: to intervene and assure the urgent survival needs(food, shelter and health-care), in medium term: give the ‘’know-how’’ to form/educate a group of potential leaders/professionals to assure the taking over the role of governing/assuring the all services. (establish educational, health-care institutions) Long term : to assure the funding the development of an industrial infrastructure. This should be an adequate industrial infrastructure appropriate for the nation to assure its own economic independence. I.e. the capacity to assure on its own an economic balance where its consumer needs would equate its production capacity. Only after this ‘’9-month’’ gestation period, should the IMF release the new-born nation. This should be free from reimbursements and interest. So who is going to for this utopia …. It is the investor bank’s money….. is it really? …. This is the topic of our next article in a series. Should Greece and other developing countries review the size and nature of their national debts… on legal grounds?
