10.22.2008

Margaret Atwood is still alive?

Here's a link to Atwood's important article, published today, in the NY Times.  She argues that debt has a moral aspect to it, and that it transcends money.  Somehow, we've forgotten that very important point.

I will only add: if you agree with Atwood's thesis about debt, will you agree that goods and services themselves somehow transcend money?--that there is a real, unavoidable value (a moral value, no less) attached to something like a 3-bedroom home?--and that that value is derived from humans demanding and producers supplying these products?

If you'll agree to all of that, good luck trying to explain to yourself what the hell the Federal Reserve Bank (or the IMF)  is, if it is not a monster.


No comments: