What happened to the ancient Roman culture? In this post I am going to discuss some issues of money and interest on a very basic level. It will start with the most fundamental questions that are really important for your understanding of the world:
How is money made?
How are people paid?
Some simple questions that you need to answer before any kind of a discussion about money or economics:
Is it possible to obtain a living?
Are people paid for their labor? If not, is it possible?
Is there any way to improve the labor market? If so, how?
Which country is better in which cases?
Will there always be a job in a capitalist country?
Do you and I have a “right to work” in a capitalist country? If not, how can we organize to achieve it?
I propose the following four questions based on some very basic information about the world:
What is money made from?
Is there money made or extracted from people?
How does money change hands?
Which countries are better at extracting money and how?
Let’s start by looking at money made. Let’s start with basic facts about the world economy that I have been accumulating in my head for long:
There are roughly 20,000 corporations on the planet, with about 4,000,000 workers (of which 3,000,000 are employed by the government). The main sector of the global economy is the financial industry with about 100,000,000 workers. And it is very important as well. The economy has many layers, but just about two thirds are financial: the banking sector (financial assets; the banking network is very long, very sophisticated, very complex, and very valuable) with about 35 million employees; insurance companies (mostly government-run, but their assets are quite large and also very important; it is the insurance market that brings in billions of dollars and so you think the risk of a large loss has to be passed to everybody in the world, but this in fact depends a lot on your country’s risk pool) with about 10 million employees; energy suppliers (many are “petroleum” (i.e., oil and gas) and other services and equipment companies that provide electricity and other services – these are very important in any country), and then we have transportation (which includes not a big number of transport operators or ships, but the infrastructure, which is the major transport medium and which
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