This short film made with Seedance 2.0 is absolutely insane.The realism looks like a real movie — no one can…
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Santa Crisis
A blog gives you visibility, allowing people from all over with views akin to yours getting in touch. That’s what happened a couple of months ago with conceptual artist, Little Shiva asking: “What about a common project?” I told her of a possible allegory for the crisis, a symbol that you could copy here and there, whose name would be Santa Crisis.
After some going back and forth, here he is: a jolly old elf!
Make him known: that’s the idea. Just inform where he was born: here and there.
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What went wrong. An anthropologist’s point of view.
Here is the communication I made on March 3rd to the Socialist members of the European Parliament in Brussels as my contribution to the one-day conference entitled “Closing the casino: building a fairer and stronger real economy”
Modern societies of European origin were historically built according to a tripartite structure composed of warriors-raiders, priests and commoners. By the time the new concept of democracy emerged, the land and the wealth buried in it had already been distributed by the warriors-raiders between themselves. Inheritance of property had contributed at strengthening this pattern. Bourgeois revolutions of the eighteen century condoned the…
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The danger of half-truths in a time of crisis
Published in Le Monde – Economie, March 2nd 2009 (transl. Danielle Goodman)
Let’s assume that governments are actively concerned with the interests of the populace at this very moment – an ardent hope of mine. To succeed, their actions have to benefit from a certain surprise effect so as not to be thwarted in advance by those who know how to use the new measures for personal gain.
Authorities therefore explain themselves as little as possible as far as their planned initiatives go, and when they do so, to calm people’s worries, their explanations are formulated in such oracular…
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Time for a good laugh: patents on tax evasion
Did you know that on February 17, 2007, Sen. Carl Levin, D-Mich., Sen. Norm Coleman, R-Minn., and Sen. Barack Obama, D-Ill., introduced comprehensive legislation to stop offshore tax haven and tax shelter abuses, the Stop Tax Haven Abuse Act, targeting $100 billion in lost tax revenue each year from offshore tax dodges ?
One of the provisions of the Act states the following :
STOP TAX SHELTER PATENTS by prohibiting the U.S. Patent and Trademark Office from issuing patents for “inventions designed to minimize, avoid, defer, or otherwise affect liability for Federal, State, local, or foreign tax”
This…
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Report and Recommendations Pursuant to Section 133 of the Emergency Economic Stabilization Act of 2008: Study on Mark-To-Market Accounting
The SEC (Securities & Exchange Commission) along with the OCC (Office of the Comptroller of the Currency) have just released their report on the valuation of financial products (Fair Value).
The subject is what I discussed in « Juste prix » et « juste valeur » and in L’implosion. La finance contre l’économie: ce que révèle et annonce la “crise des subprimes” (Fayard 2008: 188-202). The issue is the following: firms have requested that Marked-To-Market accounting is suspended for the time being as they regard current circumstances as exceptional and prices “unrealistically” depressed, too far removed…
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The Madoff Affair : Crime and Punishment
Original French version at rue89.com.
Does the name “Donald Crowhurst” ring a bell? He was one of the contenders in the Golden Globe Race a non-stop, single-handed, round-the-world yacht race held in 1968–1969. While he was ahead and therefore a potential victor, his radio signals stopped abruptly. His craft was later located but it was empty. His log-book was found, revealing that at no point had Crowhurst attempted to leave Southern Atlantic waters : he had all along communicated the fictitious positions of his alleged progress while actually waiting for the other contenders to complete their circumnavigation. He apparently…
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Le Monde, October 12th
Here an account of my column in Le Monde on the concept of a new Bretton Woods.
Bretton Woods 2.0 – Paul Jorion on The Financial Crisis
Paul Jorion wrote a column in Le Monde a few days ago concerning the prospects of a new Bretton Woods (never mind that the original died at Richard Nixon’s hand in 1973). Starting from the fact that the crisis is extremely serious and half-measures won’t do anything, Jorion offers some suggestions:
A radical reconsideration of the role of Central Banks is in order. Within a capitalist framework, Jorion states, the…
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Friday Market Monitor (AM 580 CFRA), on October 17 at 2 PM (EST)
I was Walter Traversy’s guest on CFRA a news only radio station in Toronto, between 2 and 2:30 PM.
The podcast is here. I’m talking in the second part of the program … just after the weather report. But hear Walter introduce me in the nicest way at the very beginning.
I’m a bit blasé about talking on French-speaking radios by now but this is a first: the first time ever I was part of an English-speaking broadcast and I’m very pleased!
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What have anthropologists to tell about the subprime crisis that no one else has said before?
Finance is in shambles. It has remained until now under the close supervision of economic and financial theory. In recent years, due to the overbearing dominance of views developed under the umbrella of the “Chicago School” of economics, finance has been regarded as explainable through the combination of a very simplified version of psychology: that of the “homo oeconomicus“, and of physics. The physics in question is supposed to have risen all-armoured Minerva-like out of the embarrassingly simplified psychology hitherto mentioned. This is the tenet of methodological individualism presiding nowadays over mainstream economics and financial theory.
Human nature, in the…
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The willing catalyst
On September 5th, I wrote on my French blog : “D’ici à la fin du mois il semble donc bien que les conditions d’un krach soient réunies”, meaning in proper English:
It seems therefore that from now until the end of the month the conditions for a crash are being met.
The risk of my being right diminishes of course by the day. What is intriguing however within the current setup is that – should it happen – a culprit would be close at hand. We’ve learned indeed from the press that the discussions yesterday in Washington…
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