Snippa’s a neolibrul

The fact is that assets are ‘created’. Many are synthetic. They transfer value, nonetheless.

And it can be said that the creation of these ‘assets’ is now the focus of modern capitalism.

This then defines modern capitalism as a mechanism for rent extraction, and not profit-making.

And what that means is that value creation has ceased to be what markets are about.

No wonder we are in the end-times for neoliberalism.

So says the man who desires to create a new class of assets – green bonds.

12 comments on “Snippa’s a neolibrul

  1. The fact is that assets are ‘created’. Many are synthetic. They transfer value, nonetheless.

    And it can be said that the creation of these ‘assets’ is now the focus of modern capitalism.

    This then defines modern capitalism as a mechanism for rent extraction, and not profit-making.

    Gibberish… Literally gibberish.

  2. In a few days he will announce that he has invented a new way of looking at the world, which he will call philosophy, invented by him on Jan 31, 2020. He must have the biggest ego in his street

  3. I wonder if the 75th anniversary of the liberation of Auschwitz has bought back memories to a resident of an unimpressive end terrace in Ely of a visit he once took to Dachau and how, if he shut his eyes, he could envisage himself there.

  4. Er, if summat is created then it is synthetic.

    Since I am neither moral philosopher nor economist, what does any of that have to do with the ‘transfer of value’ (whatever that might be)?

    Then: his second paragraph is ex cathedra. Well, ok. We all do it from time to time. But it references his first/second sentences of the first paragraph, not the third – the third being the one which presumes its conclusions from the first and second.

    So the second paragraph is ex cathedra and non sequitur. Which is quite something. I mean, why bother?

    I daresay I am missing something.

  5. Bravefart, I don’t think Murphy would have got on very well at Dachau. Those guard towers look bloody freezing in the winter.

  6. BF

    The BiCR beat me to it – but when I looked at this picture I saw the potential in the Great potato..

    https://en.wikipedia.org/wiki/Martin_Gottfried_Weiss

    As to his actual contentions – what the devil is he talking about ‘rent extraction’ – just unadultered bullshit. Assuming he would outlaw Derivatives if he gained power how is going to unwind the positions that are already in place? I don’t think I’ve ever seen anyone, even the most staunch Corbinite with such a mismatch between his actual knowledge and the level of knowledge he assumes he has. A latter-day Mr. Pooter.

  7. Mr Lud, he appears to be riffing on the concept of a piece of paper, such as a £5 note, being able to store value and to transfer value, such as when you buy goods in a shop. The process by which he gets to such a transaction being extraction of a rent rather than profit making is not explained and is certainly obscure to me. For example, if I give a fiver to someone to, say, wash my car, I would expect that the washer is making a profit of some level.

    He is almost certainly not extracting a rent,unless there is some factor preventing other people washing my car for less money, such as a permit or licence.

  8. @Pcar

    Christ knows. Stop trying to find meaning in gibberish.

    It reads like the ramblings of someone on powerful hallucinogens vomiting thoughts onto paper.

  9. Wasn’t he just babbling about current value accounting which would involve adjusting accounting values to create just the sort of synthetic items he’s babbling on about here

  10. Is this an apt occasion once again to inflict on this blog the not yet immortal verse penned on behalf of Ely’s greatest Poetatoe?

    Somehow
    When I visit Dachau,
    Everything I see
    Makes me think of Me.

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