Comments by "" (@jmitterii2) on "DiEM25"
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In grade school learning the exponential compound formula, first thing we learned was population growth... first thing we learn is the offsetting death and food population.
Got to the exponential compounding of interest, well you'll retire and die.
But what about banking corporations and other corporations that can exist many times the lifespan?
That exponential concept of dividends and interest... All other sciences you do find exponential, and you are always to engineer a buffer otherwise you destroy your engine, wing design, structure stability, chemical stability, etc.
Capitalism doesn't have a buffer, it literally does what nature does without buffers when it has exponential components: it oscillates its self to pieces; tears itself apart. Left with a system that has buffers against exponential components.
Our system is oscillating itself to pieces.
The oscillation in the 1800's were very severe, that century in the US half of all the years was in a panic, long depression, depression, recession, etc.
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There are actually even better medical facilities in the UK, Australia, Germany, Austria, Japan, Sweden, Denmark, Norway, and some other places.
On case in point, the ocular implant was initially researched in the US via state funds at a state university. It was further researched in Austria and was actually made public initially in Austria.
MRI was initially funded by US and UK state/national university funding. Developed at the same time to be delivered to hospitals and clinics. Japan's medical sector that is state sponsored then adopted varying lower priced MRI's so that many clinics can afford MRI's not just at hospitals just as they did with CAT scans and ultrasounds.
In fact, because patent protection that provide incentive to private health R&D, the monopoly characteristics mean various private biotech firms do not work with each other in their research as well as attempt to prolong their patent rights for as long as possible, they literally stifle innovation and bringing new treatments to market in many ways.
One case in point, Valtrex generic valacyclovir and Zovirax generic acyclovir (cold sore, shingles, gentile herpes, and chicken pox antiviral medication).
Both made by GlaxoSmithKlein:
Valtrex active ingredient Valaciclovir was patented in 1987 and came into medical use in 1995 held a patent monopoly until Nov 25, 2009
Zovirax active ingredient acyclovir patented in 1979, patent ending in the mid 90's.
Since Valtrex pushed on the market, GlaxoSmithKlein worked hard to keep Zovirax ointments from becoming OTC, to boost sales of its new drug Valtrex.
In Germany this corruption failed and Zovirax or acyclovir generic has been available over the counter for as little as 8 Euros for 5% acyclovir cream since 2010.
So it's kind of a greed game, that slows the distribution down as well as the collaboration on making better medicines and procedures.
The absurd price for Zovirax in the US 2015, actually had one patient with a large tube that would cost about 20 Euros, cost the the US patient $95 and his insurance paid $2,532.80 USD.
https://www.latimes.com/business/la-fi-lazarus-20150306-column.html
So not really. And the primary inventor of the medicine Gertrude "Trudy" Belle Elion initially graduated Hunter College public school free due to her grades was awarded the Nobel Prize in part due to her work on acyclovir.
People were rewarded and do get rewarded for inventing medicines, appliance, and procedures.
The problem becomes distribution and continued R&D... the income stream that private enterprise wants slows advancement and makes any use of current technology often un-affordable to most. Inelastic demand curve... people will pay whatever to not be in pain, especially die. And business will charge as much as they can, and they can on medicines and appliances.
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Economics was propounded by the likes of the oligarchy often using the quack of Milton Friedman, as if economics was a physical science.
When it's not. It's a social and philosophical study. Useful in different ways of thinking. To think about what you think about. But has absolutely no actual predictive capacity as the physical science does. Even the massive variability of meteorology that studies short term weather and attempts to predict short term weather in a vicinity of an area, often gives wrong predictions due to the variables involved become extreme and chaos too far out beyond a week or two in certain areas of the world.
Economics is a complete chaotic structure mathematically and as a productive capacity. Chaos theory in mathematics and game theory is about the only stab you have at not predicting economic outcomes, but gaming various choices that come up along the way; how to hedge against the chaos. Or to be super risky and go tits in to one direction of an economic outcome etc.
Economic has no predictive capacity. It only has ways of thinking about what to do when presented with an economic situation. And how to deal with the economic situation, which way is best to optimize the economy of ones self, everyone else, or you and everyone else. That's it. It's a philosophical social study.
Unfortunately, as Yanis is describing, economics was construed as a hard lined only one approach physical science. Similar to how nobility under feudalism, and even under capitalism, slave masters would describe how some people were born to serve, and others were born to govern; as if it was a physical absolute as the physical sciences are. A big fraud to get people to accept the idiocy of a social construct; social invention, that doesn't work well for almost all of the population, but works very well, too well for a very small minority. Economics was used to pacify the masses.
This is also why Alfred Nobel did not award a price in economics. He stated economics is a political study. And he knew giving an award to a political study as if its a science or more benign philosophy such as that of mathematics, that such winners could become demagogues; giving crackpots an undue unchallengeable position; because what they say must be as solid as Newtonian physics and the even more detailed and more useful for large relativistic masses or very big masses or near luminal speeds Einsteinian physics.
When they're just a crackpot that has now become unchallengeable. Ending the philosophical examination that all, even mathematics, undergoes all the time. It's only use is to sharpen ways to think, but has no real predictive capacity on anything, it's not the point of a philosophical study, to predict anything. It's only point is to become better skilled thinkers. That's it.
And unfortunately, Sweden wanted to use it's massive power with the Nobel Prize, they included in their own extension awards for economics and mathematics those two "in memory of Alfred Nobel". Nice way to memorialize someone by going against their memory of saying mathematics and economics shall not be among those awards to be used for my doury for these awards.
Therefore economics while not a physical science and having absolutely no predictive capacity, should not be ignored. But it should be open to all discussion and understanding of various ways to do economics, there is no one way or "right" way. Just one way to approach a very specific problem with many variables chief among them human sociology which makes it near chaotic. And how to deal with the situation; how to decide a goal, is it all for you at the misery of others? Do you want to optimize yourself first, but try to do a little for others?
And how to go about it given the various situation?
Economics, just alike mathematics, is not a physical science. It's a philosophy. And Economics is a political social philosophy/study. While at least mathematics is more of just a quantity analysis philosophical/study; making assumptions that are more akin to quantities that don't involve that much sociology... other than we prefer base 10 numbers system, likely because we have 10 fingers; but it really doesn't matter which base number system we chose; and some are base 12 or 60... some argue this system is better as its easier to work fractions out.
Economics is loaded with social psychology... leading to chaotic nature as humans aren't always rational. But often irrational prone to panicky or euphoric decision making that can benefit or harm themselves.
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Newspapers, Tv news, cable news, radio, etc. are mostly propaganda outlets; yellow journalism. And so we don't use those, we look for accredited sources usually university studies, and nonprofits that have no political agenda and are transparent on their funding, and even THEN we cross check this with other such publications.
Because we younger generations have been lied to from the very start and we trust no organization. Many are left feeling powerless apathetic. And those of us who know whether you're apathetic today, you're likely too much of a coward to jump off that bridge or blow your brains out with a gun so the power will inevitably fall in your lap anyway, might as well have some preparation when it does. Because at that time, particularly if it just falls in your lap, means chaos has arisen, and all will want that preparation.
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