-- get physical with money, remove the gab standard (forget gold, there are many ways to do this)
-- reward the savers (monotonically - even if small)
-- remove the gamers and derivatives (use a sandbox - CBOE for one)
-- have a goal orientation other than gross accumulation
-- wize up to the motivations for pseudo-globalization (currently, just colonialism - for people like Jim M)
-- respect for workers, those who touch matter (rather than exaltation of the financial gamers)
-- realize that we can judge worth (there are many ways to do this intrinsically - of course, physically-based money would be a start) and know bubbles (and other idiocies - see below Remarks on poopy diapers)
-- alter the basis for 'quants' approaches, using quasi-empicially motivated insights
-- learn the lessons recently grasped by Alan (capitalistic endeavors need oversight, derivatives are deadly if left to toxic means, identify and handle bubbles early on, ...)
-- consider other issues, such as what we can learn from Islamic finance
-- ...
This list relates to many other lists (fraud power, culprits).
Remarks:
12/03/2015 -- Still true, albeit the phrasing might be improved. Modern context: Are derivatives evil?
11/05/2010 -- Big Ben is still putting us at risk and trashing the savers. There has been a lot of water under the bridge. Sure enough, Ben was out of bullets early. Now, he's starting to tear into the structure in order to have something to throw at the target.
09/12/2009 -- Sandbox was used without definition. Let's discuss that concept.
01/18/2009 - We even need to look at why we need finance.
01/11/2009 -- Perhaps, 'easy' is not appropriate. That we can learn needs to be established first.
12/17/2008 -- We'll use made-off in lieu of ponzi, henceforth.
12/02/2008 -- The main topics include financial engineering, globalization as colonialism, panaceas such as outsourcing, and much more. See New Yorker article on Ben (Anatomy of a Meltdown). Okay, we cannot keep the baby from pooping and from dealing with messy diapers. But, these are grown people we're dealing with here that keep putting all of our's economic health at stake. They can mature. We CAN identify bubbles. See Minsky.
Modified: 12/03/2015
01/18/2009 - We even need to look at why we need finance.
01/11/2009 -- Perhaps, 'easy' is not appropriate. That we can learn needs to be established first.
12/17/2008 -- We'll use made-off in lieu of ponzi, henceforth.
12/02/2008 -- The main topics include financial engineering, globalization as colonialism, panaceas such as outsourcing, and much more. See New Yorker article on Ben (Anatomy of a Meltdown). Okay, we cannot keep the baby from pooping and from dealing with messy diapers. But, these are grown people we're dealing with here that keep putting all of our's economic health at stake. They can mature. We CAN identify bubbles. See Minsky.
Modified: 12/03/2015
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