Economy Rigging 1

Information Exchange and Economy April 16, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 8:36 pm

So I thought, here we are, we applied a system of trade and exchange of commodities and goods, applied rules, dynamics and processes, created a dynamic system that forms our financial and economical reality.

We teach the systems phenomenons and dynamics in Universities and educate academics, we do some research into this and once in a while, like Jospeh Stiglitz did with his work on Information Asymmetries, we gain important insights that enhance our understanding and eventually the development as well.

Our academics write in Journals, and publish their findings and their work, to be discussed and evaluated. Human condition applies, and some form of politics that also comes into play is less than beneficial for the process, as other forces often define what is accepted in academic circles and what not. Ok, this is not as bad anymore like it was just a few generations ago, we have come some way in that respect, but still these things are slowing down and often are obstacles on the way for bright new minds to establish their findings.

Today they use advanced computing technology and in the age of Tera Flops have plenty of CPU cycles at their disposal to calculate their models, but lets not forget, they are models, nothing more.

Risk control, and why I think it a good example of how we should start to enhance the process of understanding and exchange of information to allow for a better application of democratic base principles.

Secrecy, classified documents, and so on, are often just in place to serve the agenda of the people who were elected, and not the agenda of the people who elected them. This contributes to a political culture in ways that open doors for abuse of the system and I would hope it is a fair statement to say that we in Ireland have become somewhat specialists in that aspect.

This is a challenge for coming policy makers and academics to consider and a chance to for a new Ireland with a fairer basis, more democratic principles not on paper, but applied.

I might be wrong but to he best of my knowledge there is no interdisciplinary panel active that consults policy makers here, or is there?

Such a panel could be a start, and it should have a role and clear function, not a debate club only. I am not a supporter of the idea to abolish the Senat at all, rather I would change it’s position and enhance it’s role.

Policy makers need to get the best information they can. Academics need the freedom, the platform and the tools to be able to come to better conclusions, better models, and better ways to inform policy makers, and crucially, the public needs involvement in all these things as well.

International exchange with all countries, the ‘G192’, is another demand on such a system to work together to fix what is wrong and better what can be improved for the wellbeing of Nations and their people.

I said that the system is broke, and that applies not only to the financial world, it applies to social structures as well. Put it this way, this is much more than a financial and economical crisis, this is a confidence crisis on a large scale

We need a more transparent, more accountable system that allows progress and free exchange. All this is acknowledged since long and by many leading minds and it is not rocket science, rather common sense!

However, reforms are blocked on all levels, and one of the multifold reasons is the imbalance of power and wealth. Catastrophes of any kind are a chance at the same time, while devastating and causing suffering to a great many people, they are the chance to re consider and fix what is broken. The Asian crisis is a good example how it was avoided by the forces at play.

How can we achieve such changes?

It cannot come from the system within, it has been tried, many times, and to no success. It most definitely has to come from the people themselves, they have to demand this change!

The structure of IPCC has enabled us to speed up the learning process, enabled us to influence politics in ways that never was done before.


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