When I was a teenager (this was over 40 years ago), I found a book, that was already rather old, describing Canada's industrial policy during the Second World War. We doubled the size of our economy in 4 years, and by 1944 military spending was 50% of the economy (up from nearly 0 % 5 years earlier). Canada became a massive arms workshop, building everything from planes, tanks, guns, ships, ammunition and so on. Much of this effort was carried out by the private sector with considerable aid and planning from the Federal government, but if a critical industry did not exist, the government would create it from scratch by creating a crown corporation. One thing that impressed me is Canada did not have an optics industry, so the government created an Optics company, which was probably called the Dominion Optics Company or Canadian National Optics Company (I cannot find any reference to in on the internet) to make gun scopes and other optics required by the arms industry. After the war, all this was dismantled, and I remember from the introduction that the authors wrote the book because they felt Canadians would forget about this extraordinary history of Industrial policy experienced by Canada during the Second World War. Unfortunately, 80 years later, almost every has forgotten about this experience. Unfortunately I do not have the book any more. Canada's post-war de-industrialization policy was probably even more surprising to me than the war-time industrial policy.
The US has managed to build roughly 350 miles of high speed rail throughout its entire history. China has over 20,000 miles, all built during the past quarter century. So how does the neoliberal market system expect ever to compete successfully with China and other Asian nations given its almost exclusively private, profit-driven system?
I think the West is beginning to realise that taking hands of the steering wheel & expecting the Divine invisible hand of the markets to sort everything out was maybe just maybe...foolish, wrong if not out n out bad. Markets = profit=greed therefore letting one of 7 deadlies rule unrestrained was going to create heaven or hell? There is a hand in the markets but its not Divine. Markets without regulation, without Laws, without the codes of ethics that civilisations realised are needed - always degenerate into law of the jungle....i know all those bootstrapped selfmade people think they are lions, but they are mosquitos distaining the building of ants & the pride alike. law of the jungle is what we escaped from, markets unchecked will always lead to he who can create the biggest pyramid scheme before the mob turns ugly wins - but we all lose.
that would only be because the govt is captured by the capital class - who use the myth of the free market to maintain public support for the boots on our necks
"free markets" alone will not do the job. (or, in other words: you need to implement two major changes to get what you want: A) CBDC to have the data of the status of all resources in real time & B) a "resource tax" on the hoardings (with the ai behind the CBDC-data is able to identify what holdings of resources are considered to be "hoarding & speculation (and market-making)" - and which resources are held to add value & contribute to the added-value-chain. ). .. together with the marriage of data-sets provided by the "unified collaboration, HR-skills & needs" CSCW-system we can let "the market" (= ai market value calculations) place the price stickers to the entities ...
HOME WORK FOR NEXT WEEK These are all on UA-cam. The first 2 go straight to Steve's comments on the water supply in Britain and Britain's water supply issue is almost identical to Australia's Energy issues and for the same reason. "Why England's Chalk Streams are Dying" posted 4 Jul 2024 by John Horsfall "Economist explains how to fix Britain - Torsten Bell MP" posted 20 Sept 2024 Channel 4 news The really interesting stuff is at 20:47. "The Problem with Wind Energy" 30 Jun 2024 posted by Real Engineering "Enriching Uranium Understanding" 16 Nov 2023 posted by Decouple Media. Warning - Decouple is hosted by Dr. Chris Keefer, a practicing emergency physician in Toronto, who's pro-nuclear power. He has some very good people on like James Krellenstein who's in the video above. James has been on the podcast several times and I found all of them very informative. Unfortunately Chris also has on some genuine ratbags, including a couple of Australians who I wont go into here. And for some fun UA-cam - "How To Make Math Entertaining For Everyone. Don McMillan" posted 26 Jul 2024 on Dry Bar Comedy
@1:28: These critique against right wing populism/socialism seem more valid when made against captured politicians or against richt wing ideologues. I think the 'Ideologues' part seem key to make his point. @1:35: These sortition's seem to have the danger of capturing populistic decisions, only to have marketing influence them and ignore them when the wrong result is reached. I guess its a good choice for a pilot or to create a dialogue. @1:45: Here in the Netherlands Labor-Unions seem to be all captured, the education Labor-Union seems very captured as well.
We need a discussion on industrial policy as it relates to the depletion of the earth’s resources and the unfortunate consequence of human over consumption and human overshoot. The negative feedbacks are obvious - extinction of other fellow earthlings, destruction of the biosphere resulting in a loss of habitat. We are faced with two paths: 1) Increased death rate or 2) a slowing birth rate. During this phase, I would like to see humans have both an equal opportunity and an equal chance of results. But alas, we know the answer to this wish. Ain’t gonna happen
It all begs the question: What would your team have done differently, having detected in your models the seeds of destruction or a house of cards waiting to fall? For instance, had you been in the FED or Treasury or cabinet positions, and when your system dynamics had exposed the danger of public debt at the tipping-point just prior to the cascading events of the latest financial crisis, what administrative inputs would have healed it easily? Forget legislation, that's for hindsight in a changed world, but in the driver's seat, what new or old inputs to your double-entry economic spreadsheet would have prevented the disaster?
Academia is brilliant, or so they say, but if the FED used their axe and hiked rates, or if the President said "Oh, naughty naughty loan bundlers," that would only have triggered the massive sell-off and left financial houses with not enough time to shift the liability to their list of suckers. What is China doing in their twice-oversold housing market? How are investors in real estate funds going to prevent a government subsidy of private housing that drops overblown rents and existing prices? Here's your chance to step-up to the plate. Pretend you've got full access and influence to enact financial changes on your model, what's your "Emerald City" solution that doesn't create new opportunities to exploit the public interest?
Certification of residential and commercial buildings and structures would be at least a subsection of an industry that will be more effective under complete government control. In Australia, we have the option of either private or public building certification. The obvious problem is private certifier is a business like any other and builders expect them to issue certification regardless of non-compliant works.... If the certifier was employed by government cannot be influenced by the builder, and will only issue certification on complaint works only........
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
When the bell rings, it's a different world out on the playground. Playground rules are different than classroom rules, and in the real world of business/government relations, campaign contributions are the formula for Industrial Policy. Isn't that what the Supreme Court of the United States confirmed in Citizens United? I don't think Chief Justice Roberts is in your dynamics, is he?
Long-term/short-term capital gains are easy to understand and favor by tax policy for stability sake, but how does that principle apply to corporations, especially the corporate raiders who leveraged, looted, and left with their plunder? Government is left with the smoking hulk, workers must be retrained or compensated for the sake of families left in shambles, a bailout call, and unwary shareholders left holding the bag. DARPA is remarkable at instilling a need for real development with risks, but industry has not known any means of self-defense against pirates in thousand dollar suits. Your systems dynamics economic modeling programs can grab those curs by the scruff of the neck and pitch them into the hoosegow? Just when and where will that happen, in The Second Coming?
I have to laugh when Dr. Steve blames lazy students for University tuition and fees without a warrantee. I realize he's just making a point, not condemning a system without responsibility. But technical schools do commonly survey graduates and account for failures to succeed in teaching employable skills. Instructors may well call if you're not employed. I laugh at the number of times I heard professors gleam with pride, "This isn't job training." The acceptance of an 18-year-old's application implies a contract to provide valuable services, and if skills fail in that mission, no matter the value to the prestige of the institution, a refund of tuition and fees is in order. An argument may ensue and responsibility for failure held in evidence, but the educational institutions aren't immune and they shouldn't be. UK, Holland, or Australia might be different, but private commercial colleges that include President-elect's own have sprung up to collect their share of government-sponsored tuition subsidies. Those have been criticized and sued for their intentional fraudulent behaviors in some extreme cases, but Ivy Leaguers need a crack on the knuckles for not knowing or caring that they were taking big money for fraudulent results. Schools are betting on youths, just as youths are trusting in schools. Not doing the work is not a sudden onset, and a certified professor ought to have a personal meeting with such a failing student. University classes might have many hundreds attending lectures, broken into sections with TAs. If that system fails, it deserves a strong review and possible reprimands. It's a contract broken, by either one or both. A refund penalty might be due.
Kennedy needed Johnson's draw of Southern voters, and his power in Congress. And so, NASA built most of its facilities in the South and Southwest. The Russians needed a reason to feel outclassed by a free and democratic West, and so did Americans need confidence after Sputnik. Economic stimulus for a dream of some future where the endless warfare of tradition could be built into a New Testament break with ancient savagery? That's a typical Roman Catholic vision, but for America it worked. In contrast, the Vietnam War had a traditional set of drivers, and maybe the sacrifice of precious sons and savings were a barrier to some vague domino effect, such as Putin has tapped into again. Economic modeling can solve that Gordian Knot problem?
Doesn't a half-Windsor knot imply some half-hearted effort? This fellow is really good, but needs the full prep. He's halfway, but these gents on Keen's panel can probably only gain public confidence and active guidance toward his goals when they're in an office of power. Academia is for reference only, no matter how conducive it is to concentration and dissemination of new ways. Somebody must act.
This debate about the role of state is bloody naive😂 What makes you think state will be anymore “moral” and incentivized to look after the “people” long term interest 😂 Attention of people can be manipulated too.
Then answer me this, what has a better chance of truly reflecting the needs of society & the individuals that make it - Corporations who historically always degenerate {if not start out} antidemocratic in principle, whos only motive is exploitation, prevents unionisation, all employees have no say or highway, whos CEO & board are unelected & insulated from consequences..... etc or Democratic systems who at least in principle are aiming higher & have way better track. All problems with the State stem form it Not being democratic enough & being coopted by vested interests. Democratic capitalism shouldnt neccesrily be a contradiction in terms...but it is ! Has capitalism been coopted by sociopaths.... or does it create them? Checks & Balances to power {state, mobs, kings / billionairs, the barons, corporations} who does the checking & the balancing ? We the people, if not we will be subject to lack of them!
this discussion is - by far - too much "ceteris paribus" based on "old school economic situation = "money"-oriented ". ... in a CBDC driven environment, the rules are different. "Profit" makes no sense here. It is all and only about "producing / delivering stuff and services the market wants". If market validates the feedback loop with: "yes, this makes sense" -> then you get more access to resources to expand your business. ... let`s free the markets on the competition side - and provide access to resources to those who are successful. CBDC plus a unified cybernetic collaboration suite (like mine...)** - and let the data make the decisions. ** humans are lucky here: one can get most out of them if you can manage to bring them into a "flow experience" ... ;-)
When I was a teenager (this was over 40 years ago), I found a book, that was already rather old, describing Canada's industrial policy during the Second World War. We doubled the size of our economy in 4 years, and by 1944 military spending was 50% of the economy (up from nearly 0 % 5 years earlier). Canada became a massive arms workshop, building everything from planes, tanks, guns, ships, ammunition and so on. Much of this effort was carried out by the private sector with considerable aid and planning from the Federal government, but if a critical industry did not exist, the government would create it from scratch by creating a crown corporation. One thing that impressed me is Canada did not have an optics industry, so the government created an Optics company, which was probably called the Dominion Optics Company or Canadian National Optics Company (I cannot find any reference to in on the internet) to make gun scopes and other optics required by the arms industry.
After the war, all this was dismantled, and I remember from the introduction that the authors wrote the book because they felt Canadians would forget about this extraordinary history of Industrial policy experienced by Canada during the Second World War.
Unfortunately, 80 years later, almost every has forgotten about this experience. Unfortunately I do not have the book any more. Canada's post-war de-industrialization policy was probably even more surprising to me than the war-time industrial policy.
The US has managed to build roughly 350 miles of high speed rail throughout its entire history. China has over 20,000 miles, all built during the past quarter century. So how does the neoliberal market system expect ever to compete successfully with China and other Asian nations given its almost exclusively private, profit-driven system?
I think the West is beginning to realise that taking hands of the steering wheel & expecting the Divine invisible hand of the markets to sort everything out was maybe just maybe...foolish, wrong if not out n out bad. Markets = profit=greed therefore letting one of 7 deadlies rule unrestrained was going to create heaven or hell?
There is a hand in the markets but its not Divine.
Markets without regulation, without Laws, without the codes of ethics that civilisations realised are needed - always degenerate into law of the jungle....i know all those bootstrapped selfmade people think they are lions, but they are mosquitos distaining the building of ants & the pride alike. law of the jungle is what we escaped from, markets unchecked will always lead to he who can create the biggest pyramid scheme before the mob turns ugly wins - but we all lose.
Market "Fundamentalism", not fun for humanity - but definately "Mental"
Detective of Money Politics is following this very informative content cheers from VK3GFS and 73s from Frank Melbourne Australia
Without question, industrial policy must focus on reducing (fast) high carbon intensity activities and growing sustainable alternatives.
DT Cochrane is always a great guest for this show😉
Free Market is the answer. The government will take donor monies, campaign contributions, then pick winners and losers.
There's no such thing as a free market.
That's a libertarian fever dream.
that would only be because the govt is captured by the capital class - who use the myth of the free market to maintain public support for the boots on our necks
They sure will, they will give all the money and power to the rich who will enslave the rest of us, good plan.
"free markets" alone will not do the job. (or, in other words: you need to implement two major changes to get what you want: A) CBDC to have the data of the status of all resources in real time & B) a "resource tax" on the hoardings (with the ai behind the CBDC-data is able to identify what holdings of resources are considered to be "hoarding & speculation (and market-making)" - and which resources are held to add value & contribute to the added-value-chain. ). .. together with the marriage of data-sets provided by the "unified collaboration, HR-skills & needs" CSCW-system we can let "the market" (= ai market value calculations) place the price stickers to the entities ...
HOME WORK FOR NEXT WEEK
These are all on UA-cam.
The first 2 go straight to Steve's comments on the water supply in Britain and Britain's water supply issue is almost identical to Australia's Energy issues and for the same reason.
"Why England's Chalk Streams are Dying" posted 4 Jul 2024 by John Horsfall
"Economist explains how to fix Britain - Torsten Bell MP" posted 20 Sept 2024 Channel 4 news
The really interesting stuff is at 20:47.
"The Problem with Wind Energy" 30 Jun 2024 posted by Real Engineering
"Enriching Uranium Understanding" 16 Nov 2023 posted by Decouple Media.
Warning - Decouple is hosted by Dr. Chris Keefer, a practicing emergency physician in Toronto, who's pro-nuclear power. He has some very good people on like James Krellenstein who's in the video above. James has been on the podcast several times and I found all of them very informative. Unfortunately Chris also has on some genuine ratbags, including a couple of Australians who I wont go into here.
And for some fun
UA-cam - "How To Make Math Entertaining For Everyone. Don McMillan" posted 26 Jul 2024 on Dry Bar Comedy
@1:28: These critique against right wing populism/socialism seem more valid when made against captured politicians or against richt wing ideologues. I think the 'Ideologues' part seem key to make his point.
@1:35: These sortition's seem to have the danger of capturing populistic decisions, only to have marketing influence them and ignore them when the wrong result is reached. I guess its a good choice for a pilot or to create a dialogue.
@1:45: Here in the Netherlands Labor-Unions seem to be all captured, the education Labor-Union seems very captured as well.
We need a discussion on industrial policy as it relates to the depletion of the earth’s resources and the unfortunate consequence of human over consumption and human overshoot. The negative feedbacks are obvious - extinction of other fellow earthlings, destruction of the biosphere resulting in a loss of habitat. We are faced with two paths: 1) Increased death rate or 2) a slowing birth rate. During this phase, I would like to see humans have both an equal opportunity and an equal chance of results. But alas, we know the answer to this wish. Ain’t gonna happen
Line of the livestream by DT begins at 1:14:13
It all begs the question: What would your team have done differently, having detected in your models the seeds of destruction or a house of cards waiting to fall? For instance, had you been in the FED or Treasury or cabinet positions, and when your system dynamics had exposed the danger of public debt at the tipping-point just prior to the cascading events of the latest financial crisis, what administrative inputs would have healed it easily? Forget legislation, that's for hindsight in a changed world, but in the driver's seat, what new or old inputs to your double-entry economic spreadsheet would have prevented the disaster?
Academia is brilliant, or so they say, but if the FED used their axe and hiked rates, or if the President said "Oh, naughty naughty loan bundlers," that would only have triggered the massive sell-off and left financial houses with not enough time to shift the liability to their list of suckers. What is China doing in their twice-oversold housing market? How are investors in real estate funds going to prevent a government subsidy of private housing that drops overblown rents and existing prices? Here's your chance to step-up to the plate. Pretend you've got full access and influence to enact financial changes on your model, what's your "Emerald City" solution that doesn't create new opportunities to exploit the public interest?
Political model based on predator and prey.
The book "a prosperous way down".
Certification of residential and commercial buildings and structures would be at least a subsection of an industry that will be more effective under complete government control.
In Australia, we have the option of either private or public building certification.
The obvious problem is private certifier is a business like any other and builders expect them to issue certification regardless of non-compliant works....
If the certifier was employed by government cannot be influenced by the builder, and will only issue certification on complaint works only........
Ever heard of bribes?
What about ESOP & CSOP & Co-Op ownership?
Are we practicing economics or theology?
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.
the level of investment made by water companies is set by the regulator, it's a faliure of government.
also kinda funny given how long it took to provision running water to London and how unprofitable it was at first
When the bell rings, it's a different world out on the playground. Playground rules are different than classroom rules, and in the real world of business/government relations, campaign contributions are the formula for Industrial Policy. Isn't that what the Supreme Court of the United States confirmed in Citizens United? I don't think Chief Justice Roberts is in your dynamics, is he?
Long-term/short-term capital gains are easy to understand and favor by tax policy for stability sake, but how does that principle apply to corporations, especially the corporate raiders who leveraged, looted, and left with their plunder? Government is left with the smoking hulk, workers must be retrained or compensated for the sake of families left in shambles, a bailout call, and unwary shareholders left holding the bag. DARPA is remarkable at instilling a need for real development with risks, but industry has not known any means of self-defense against pirates in thousand dollar suits. Your systems dynamics economic modeling programs can grab those curs by the scruff of the neck and pitch them into the hoosegow? Just when and where will that happen, in The Second Coming?
I have to laugh when Dr. Steve blames lazy students for University tuition and fees without a warrantee. I realize he's just making a point, not condemning a system without responsibility. But technical schools do commonly survey graduates and account for failures to succeed in teaching employable skills. Instructors may well call if you're not employed. I laugh at the number of times I heard professors gleam with pride, "This isn't job training." The acceptance of an 18-year-old's application implies a contract to provide valuable services, and if skills fail in that mission, no matter the value to the prestige of the institution, a refund of tuition and fees is in order. An argument may ensue and responsibility for failure held in evidence, but the educational institutions aren't immune and they shouldn't be.
UK, Holland, or Australia might be different, but private commercial colleges that include President-elect's own have sprung up to collect their share of government-sponsored tuition subsidies. Those have been criticized and sued for their intentional fraudulent behaviors in some extreme cases, but Ivy Leaguers need a crack on the knuckles for not knowing or caring that they were taking big money for fraudulent results. Schools are betting on youths, just as youths are trusting in schools. Not doing the work is not a sudden onset, and a certified professor ought to have a personal meeting with such a failing student.
University classes might have many hundreds attending lectures, broken into sections with TAs. If that system fails, it deserves a strong review and possible reprimands. It's a contract broken, by either one or both. A refund penalty might be due.
Private ownership is the problem
Kennedy needed Johnson's draw of Southern voters, and his power in Congress. And so, NASA built most of its facilities in the South and Southwest. The Russians needed a reason to feel outclassed by a free and democratic West, and so did Americans need confidence after Sputnik. Economic stimulus for a dream of some future where the endless warfare of tradition could be built into a New Testament break with ancient savagery? That's a typical Roman Catholic vision, but for America it worked. In contrast, the Vietnam War had a traditional set of drivers, and maybe the sacrifice of precious sons and savings were a barrier to some vague domino effect, such as Putin has tapped into again. Economic modeling can solve that Gordian Knot problem?
Doesn't a half-Windsor knot imply some half-hearted effort? This fellow is really good, but needs the full prep. He's halfway, but these gents on Keen's panel can probably only gain public confidence and active guidance toward his goals when they're in an office of power. Academia is for reference only, no matter how conducive it is to concentration and dissemination of new ways. Somebody must act.
This debate about the role of state is bloody naive😂
What makes you think state will be anymore “moral” and incentivized to look after the “people” long term interest 😂
Attention of people can be manipulated too.
@pibob7880 True, especially when politicians depend on donations to get into office.
What’s the answer?
Then answer me this, what has a better chance of truly reflecting the needs of society & the individuals that make it -
Corporations who historically always degenerate {if not start out} antidemocratic in principle, whos only motive is exploitation, prevents unionisation, all employees have no say or highway, whos CEO & board are unelected & insulated from consequences..... etc
or
Democratic systems who at least in principle are aiming higher & have way better track.
All problems with the State stem form it Not being democratic enough & being coopted by vested interests.
Democratic capitalism shouldnt neccesrily be a contradiction in terms...but it is !
Has capitalism been coopted by sociopaths.... or does it create them?
Checks & Balances to power {state, mobs, kings / billionairs, the barons, corporations} who does the checking & the balancing ?
We the people, if not we will be subject to lack of them!
this discussion is - by far - too much "ceteris paribus" based on "old school economic situation = "money"-oriented ".
... in a CBDC driven environment, the rules are different.
"Profit" makes no sense here. It is all and only about "producing / delivering stuff and services the market wants". If market validates the feedback loop with: "yes, this makes sense" -> then you get more access to resources to expand your business. ... let`s free the markets on the competition side - and provide access to resources to those who are successful. CBDC plus a unified cybernetic collaboration suite (like mine...)** - and let the data make the decisions.
** humans are lucky here: one can get most out of them if you can manage to bring them into a "flow experience" ... ;-)
Note to self. Skip the first few minuets of bullshit!
Note to self, don't bother reading this guy's comments😂👆
Mr ‘wham-bang-thank-you-maaam’ would prefer a livestream start mid-sentence.
@@RandoMcRando17 wankers
@@larryjsummers 🤣👌
this is total bollox