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..An idea for Greece - why not ask people like Branson, Blecher, Yunus, Club Med to help Greece host Europe's largest free university

Free universities provide programs that guarantee jobs (eg apprenticeships in areas like paranursing) or entreprenerial innovation of community owned franchises: what brussels help 2 summits end 2011 on; what queen sofia (whose motherlands are Spain and Greece) hosted 15 years series of microcreditsummits on; help celbrate what http://jobscompetitions.ning.com  and http://singforhope.org  and collaboration incubator cities are convening through waves of student led entrepreneur competitions across usa

Such apprenticeships and community franchise replication are mainly done by youththrough  peer to peer teaching and mentoring modes once a practice expert has started off the first class live and can continue to monitor virtually; such methods can maximise what the eu hosted since start of M3 in elearning, multilingual labs and hi-trust, hi-tech: knowledge open management and collaboration hosting conferences and virtual community boards and can restore all the collaboration processes berners lee originally sought the web to be for

Such a space can be europe's number 1 exchange for trying out green methods -small and large- greece isnt lacking land, sea and sun; s.africa is already hosting free university as the largest collaboration education movement across africa; japan needs a similar movement; china too. A student should be alowed to participate at any campus in the system - and campus should be placed alongside places with assets that are in danger of not being maintained : the sites of 2004 olympics; some tourist destinations which are now losing custom as image of greece becomes unrelable for joyfully transporting hoidaymakers ; placed next to whole towns that need regeneration by youth entrepreneurs reassembling past skills for 21st C mobilisation

Youth and Yunus www.youthandyunus.com  all across europe and beyond have need of a destination space for extreme innovation meetings (see 5000 brainstorm methods eg www.openspaceworld.com ) and designing futures the net generation wants to co-produce given that we have million times more collaboration technology - what we haven't got is a global economics paradigm for investing in youth networking out of every global village. By exhibiting the greatest youth makers faires 1 2 and linking in to millennium goal convergences most collaborative summits 1 2 3 all acrooss the united free university campuses of Europe, Greece can vision the most interconnected trades betwee greek youth and worldwide youth -if you think this idea is woth brainstorming join in at Http://yunuscity.ning.com  

history note : club med originated as an almost free holiday and development process in former french colonies; a lead group would go and establish camp-all the most enjoyable ideas and most sustainable trades they made with the local community would be passed on by induction by the group who were ending their stay to the group who were starting their stay; this sustainable tourism model permitted the evolution between members who came mainly to pay for a holiday and officers who became the paid staff and were recruited from members or locals who had a great sporting or local cultural skill. There is no reason I can think of why such a joyful and collaborative start up process can't lead to the most interactive free universities just as club med led to the mos tinteractive holiday resorts

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Keynes1: never ever respond to depression with austerityKeynes2: With the world being ruled only by economics, the greatest danger to the freedom of youth is the elderly macroeconomistCases of loss of youth: ! Greece; 2 Student loaned and subprimed USA ...
Given that economics is responsible for designing what futures peoples get, and nobody could want for greek youth the future curently being compounded , what we need to do is identify every elder cluster bad-future advised by economists, and require them to make amends. That is the lesson the european union was founded to serve- because we -the european peoples - learnt from 2 world wars that :
we couldnt afford another
you cant reassign a defeated country's ownership to another race- its the leadership team not the country's next generation that need punishing that fits the cloth
  • prime non-economic cluster 1 - european union - they havent lived up to the origin of their purpose, and they havent done the job needed for countries to share a single currency
  • prime non-economic clusrer 2 - germany it led this debt mayhem without recognising when the debt was way beyond repayability-and it hasnt learnt how non-economic its whle mindset is to youth growth across europe-  its not at all clear that a common currency can ever be sustanable with germany in it unless a total reappraisal of what futures do we want to help youth design is evident
  • prime non-economic clusrter 3 - 2008 if not before should have been the time when all eurobanks that believed their value was trapping peoples in debt were put in administeartion - the bailout (which anyhow is paid for by next generation) should have preserved ordinary peoples savings but reduced owners value by at least 90%; by all means shareholders should have sued ratings agencies and bad managers instead of rewarding them
  • primnon-economic cluster 4 - yes there are various segments of grrek elders including the church who are sitting on assets and need to be involved in investing in youth; if there are those who defrauded the figures they shoulf feel the full face of the law- and by the way the whole accounts of the greek olympics should have been transparently published years ago - by setting up a preedent for not accounting transparently all parties above are further to blame
are there some other elders groups - by all means above remarks apply to usa banks as well as europes; by all means mot tv broadcasters coverage of markets is more terrifyingly srt-sighted than anything i can think of
we need to identify the real causes of greece's meltdown because each one then needs to be rechecked as we turn to reviewing other countries being spun in ways thay no common sense parent would want their next generation to be trapped in
chris macrae washingtion dc hotline 301 881 1655 chris.macrae@yahoo.co.uk

latest from banking's gamblers anonymous
finally rules for handling a dying big bank that dont cost youth an arm and two legs

  since my father's death, krugman is one of the very few (perhaps only western economist) who has a comprehensive knowledge of all the conflicts and intended short-term fixes (that have become permanent vicious spiral) that macroeconomists have got muddled up with since keynes general theory implored economists to take a hippocratic oath ''for being the only discipline that increasingly rules the world); he can be counted on for interventions at the theory and standards level that gets argued over at congresses aqnd nightly news 
for the rest of us the way to create the world we want with economics 
1 choose a practice area you are passionate aboutdetect ahead of time the next gamechanger that millions times more collab technology will bring to the value chain -ie the market connected round the practice areayou should search out for an order of magnitude change to economics of that market - eg cashless banking - then race is on to viralise among youth -through such spaces as communally reported at http://jobscompetitions.ning.com and those who want to open source community owned franchises to be there to make sure that the order of magnitude change invests in next generation productivity, transparently mapped multi-win models of value exchange and sustainability's expoential impacts on communities everywhere- expect competition from orwell's big brothers and occupy wall streets 1% who want to take over the globe's wealth

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What Everybody Needs to Know First About Economics

Economics designs peoples futures but this depends on what logics are analysed- here are the logics The Economist used in the early 19080s when it discussed how the net gneration could be the most productive time for youth

  

A nation/place cannot sustain growth unless its capital is structured so that family's savings are invested in their next generation's productivity. Norman Macrae's 1954 book on The London Capital Market provides chapter and verse. Historically it was timely as London's industrial revolution had planted most of the developed world's laws and financial instruments. Futurewise this book became a source for Norman's forty years of leadership challenges including 3000 editorials. THese became branded in the 2 genres of entrepreneurial revolution and future history of the net generation genre which he focused on from 1972. They script in practical details most of the changes that economists would need to make to historic rules if globalisation is not to collapse the worldwide financial system of 2010s

Norman framed his writings on future purposes huan most wanted around the idea that The Net Generation to 2024 would face change on a scale never previously experienced by our human race. To prevent risks and celebrate job creating opportunities Norman proposed in his 1984 book (The 2024 Report) that the world should unite around youth's most exciting millennium goal. He explained why economics would design the most popular futures if the goal was chosen as racing to end poverty everywhere. Reasons included: its possible, its exciting, it creates jobs post-industrial generation will need to design around collaborative technology, it can empower youth to joyfully unite cultures as we become borderless (more connected than separated), it aligns economics principles with nature's exponentially (compounding) rules of evolutionary selection which are community-up and open.

 download more profiles of 100 collaboration leaders of 2010s = youths most productuive decade 

 

We are shocked how few people know of the main findings of the renowned economist Maynard Keynes- increasingly only economics riles the world and the greatest risk to the future working lives of our children comes from elderly macroeconomists who hire themselves out to the biggest who want to get bigger.



Historically when faulty systems of macroeconomists ruined civilisations they fell one by one. But Einstein took Keynes logic further and hypothesised that the first generation to become more connected than separated by technology would be subject to a final exam. Now if we let erroneous macroeconomists rule whole continents of nations will collapse.



By 1976 my father (Norman macrae) -probably the last student of economics mentored by Keynes-  was writing at The Economist why the next half century would see the net generation tested - he called upon the genre of Entrepreneurial Revolution (ER) networkers to sort out the greatest  innovation challenge economics - and so the human race - will ever face .

 

 

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The opportunity of 10 times more productivity for the net generation (with million times more collaboration technology than man's 1960's race to moon)

.The THREAT is preventing the threat of collapsing continent-wide system of value exchange. By 2020 the (exponential track impacting future) sustainanbilyty of every village around the globe will likely be lost or won

..logo3responsibility.jpg...How could we be experiencing record youth unemployent when we are living in a time of a million times more collaboration tech than a generation ago? According to research by Entrepreneur networks started at The Economist in 1976, we are 36 years off track in compounding 2 unustainable systems whose follies multiply each other
  • that caused by non-economic media which also distracts us with glossy images and soiundbites instead of future realities and integrated cross-cultural and inter-generational understanding - full briefing here
  • World's biggest maths error compounded by macroeconomists and all global professions with a ruling monopoly - see below
Discuss: what does everyone need to know about the way economists think and behave. Understand 2 opposite segments of E : The Unacknowledged Microeconomist and the Fatally Conceited.MacroEconomist

Keynes - because economics will incresingly rule the world, the greatest danger to the futures of youth is elderly macroeconomists where fame maks them compete to superpower over peoples  

 Boulding: ****the historic significance of capitalism is precisely a society in which exchange has become a more important source of power than threat**** in his book economics as science

Von hayek- given the fatal conceit in my profession, I really think you shouldn't be doing this - awarding me a first Nobel Prize in economics 
freedom of speech and everything about the future you want, NOW depends on enough people knowing how to play the value exchange game - and why that isnt exactly what the game of monopoly teaches - an exchange is where each side says I wants something from you so let's work out what I can do for you and purposefully improve on this over time through hi-trust communal feedback
debate difference between true capitalism and phoney capitalism
  • agree on a picture like that on the right- we have seen cases where one of the 10 coordinates shown felt the system had betrayed their greatest trust, and so zeroised the organsaition or network (even ones that accountants had been reprorting record profits ahd $100 billion equity
  •  start discussing multi-win models - see our 4 favorites from 36 years of debates with entrepreneuruial revoltionaries
  • choose say 12 markets whose future purpose is most vital to sustaining your children - and use media to agree what the greatest human purpose and corresponding mkilennium goals are that need investing in to fee each market and youth's working lives in serving the most valuable purpose
  • get those (including all parents?) who save across generations to throw out speculators from banking systems and capital markets - eg next time there is a bailout (which means taking your childrens money to refinance a bank) wipe out shareholders; let them set lawyers on old managers and any politicians their pr's lobbied; keep savings accounts safe; restructure bank so that it invests in youth productivity and sustaining communities not bubbles, and not trapping people in debt

Goodwill explains up to 90% of value impacts of any organsaition in a networked economy- yet no nation yet requires that organisations it licences to audit goodwii. 20 years of research has proved the following reciprocal relationship - the purposeful question" who would uniquely miss what if your organsaition did not exist?, has the reciprocal question why let your organisation contnue to exist if it has broken my life-crtiical trust it promised to serve

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valuetrue capitalism maps how each side win-win-win from other sides communal purpose over time -this  goes back over 250 years to the criteria of free markets adam smith demanded freedom of speech questioned - he talked about the transparency of community markets where a rogue trader might fool some of the people but not for long and not for too big to fail! - the journal of social business edited by adam smith scholars at his alma mater Glasgow University advises people of any other tongue how to build up from adam's hi-trust ideas to such constructs as sustainable global vilage networking first mapped by schumacher (another keynes alumni) - we have a library of free articles for you to choose and translate from

phoney capitalism spins a monopoly, a non-free maket - one side rules by saying I want to take more and more from all of you- esentially this is what rules when global accountants audit only how much one side has profited/extracted withouth how much has it sustains other sides- phoney capitalism can only result in exponentai meltdown becuase so much has been extracetd from system that its unsustainable for human lives or for nature or for both
 
 

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  • MORE ABOUT WHERE VALUING NETGEN CAME FROM

    - in the 1990s I was working with big 5 accountants; I argued for a missing audit they needed to do as regularly as their monetisation audit; I called this how goodwill modelling multiplies value around a gravitational purspoe ewhise gials all sides want to progress over time; it turns out that in knowlege scetors over 90% of the future is bayesian predicatbale on quality of goodwill relationships-3 yeras before andersen crashed I usd this model to warn them that if they stoped multiplying conflicts around true and fair they would be zeroised by society- I didnt succeed in getting my advice to be acted on but at that time unseen wealth publications made by brookings and georgetwon had just been banned by the incolimng bush adminsitration - who didnt like to be told that without the second aidt risks would compound unseen- every collapse USA has seen a hand in during 2000s (and viralised to other nations since 2008) can be traced to this mathenatical error

    what can be done about this mess
    -debate difference between true cpaitalism and phoney capitalsim
    choose say 12 markets hose future purpose is most vital to sustaining your children - and use media to aggree what the greatest huan purspose and corresponding mkilennium goals are that need investing in
    get thse who save across generations to throw out speculators from bankiing systems - eg next time there is a bailout (which means taking your childrens money to refinace a bank) wipe out sharehilers; let them set lawyers on old managers and any politicians their pr's lobbied; keep savings acconts safe; restructure bank so that it invests in youth productivity and sustaining communities not bubbles, and trapping people in debt
    -if you do this today's millions times more coalbration technology than a generation ago can make the next decade the most productive time and joyful for youty and everyine to be alive instead of the most dismal time where natios led by old macroecnomist put youth out of work
    DO YOU KNOW...
    Q: Original Purpose of Economics? A The Scotland of the 1750s was at the end of a first generation to have found their country taken over by England's Empire., So Adam Smith was motivated to start writing about how to design systems so that peoples could could look forward to their next generation sustaining more productive lives than they had had ... 7 quarters later keynes general theory issued humanity's greatest challenge- economics as a systems science had reached the state that only economics rules the world ... moreQ: What do the man-made systems that rule the world look like? A Purposeful value exchanges composed round 5 main flows of how productively peoples lives are used and 5 main demands human beings make as co-workers, customers, owners, stewards of the globe, stewards of society at the village level - moreQ: Why can't human race in 21st C be sustained with choice of economics made by 20th C biggest banks and govs etc? A Long Story: ER alumni are in their 37th year of offering debating scripts eg1 on wht some industrial age systems after world war 2 were designed to be too big to exist as the first net generation became more connected than separated by geographical borders ... What is known is that 2010s is most exciting decade to be an entrpreneur because our impacts define what will be possible for all our childrens' children more 

    World Class Brands are in 25th year (as a subnetwork of Norman Macrae's Entrepreneurial Revolution) of helping sustain the most purposeful organsiations or markets in the world. Core to any charter of purpose is a quiz revolving round this question
    - who would uniquely miss what if this didn't exist?. From this Q&A's list of trust-flows, economics maps how to connect producers and demanders of the exchange in multi-win models of purpose. Henceforth, potential conflicts with this goodwill model are audited and resolved at every cycle so that unique purpose is celebrated to lead the future by continuously multiplying the most value and trust. This model provides the simplest benchmark around all exponential impact metrics of sustainability investement can be calculated and the transparency of all multi-win models are webbed around pro-youth economics. Questions welcomed chris.macrae@yahoo.co.uk washington dc hotline 1 301 881 1655

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    Not youth's economics of the world Not our schools of the worldYouthandYunus.comLeadersandYunus

    Muhammad Yunus expresses faith in entrepreneurs at G20 summit

    Posted on: November 23, 2011
    Category: News

    Microfinance Focus, November 4, 2011: Professor Muhammad Yunus was invited to deliver a key note speech during the G20 Young Entrepreneurs Summit held in Nice, France. Professor Yunus addressed an audience of more than 400 entrepreneurs from all G20 countries. In his speech, he shared his personal entrepreneurship experiences, his faith in young entrepreneurs to be the pillars of society and the need to include poor countries in the discussion process in making global decisions.

    Professor Yunus being an entrepreneur himself started off creating the Grameen Bank that provides microfinance services to the poor who had little access to financial provisions. From that, he ventured into a wide number of social businesses such as Grameen Nursing College, Grameen Eyecare Hospitals, Grameen Shakti, etc.

    He has always considered young entrepreneurs to be the most effective solution for the future. He said “In my opinion, G20 YES is a fabulous initiative, gathering so much energy and momentum from all over the world. Because of their creativity and leadership, provided that they commit to share the value they create, these 400 young entrepreneurs in this room can change the world.”

    Professor Yunus is also a member of the Millennium Development Goals (MDGs) Advocacy Group, advising the Secretary General of the United Nations. Hence, he believes that the next generation of youths should be handed over the process of the MDGs as soon as possible. He believes that entrepreneurs will have a key role to play in fulfilling the MDGs, if they are committed to the social value created by their companies, and social business can be part of the solutions.

    In his speech, he added that the G20 needed to broaden its scope to deal with the current world crisis. It can no longer remain a political forum with economic agendas. The G20 needs to create a social agenda as well. Professor Yunus proposes that ‘social business’ should be brought to the agenda of G20, as one of the concrete and effective solutions to be considered for immediate implementation so as to guide capitalistic investment towards social value and jobs creation, rather than sheer profit maximization strategies. A social business is a cause-driven business where profits stay within the company for its sustainability.

    Lastly, Professor Yunus concluded that the G20 should be expanded into the G25, where poor countries from each continent should be included in the global agenda which they are part of. He added that “Their problems are inter-related with others, and their proposals of solutions should be considered by the most economically advanced countries in making global decisions. A G25 would be a big step toward ensuring that global social issues are raised, and MDGs implementation is fully shared on the global agenda. And finally, because fighting poverty together is the only way to bring long lasting peace in this world.”

    Source: http://www.microfinancefocus.com/muhammad-yunus-expresses-faith-entrepreneurs-g20-summit

    inquiries chris macrae info @worldcitizen.tv us tel 301 881 1655 ; us office 5801 nicholson lane suite 404, North Bethesda, MD 20852 USA - skype chrismacraedc
     Mapping is a process of discovery. Crucially maps are only as usable as updating correctness of bottom up information. Think of your own use of a map. You look for the "you are here arrow". You want to be directed to somewhere/someone you dont know how to get to; you want your return vist to be safe as well as a value multiplying win-win.
    Does anyone remember the simplest findings of einstein and jon von neumann. Einstein proved that to innovate more value you need to go more micro in what you model; von neumann showed that there is more value to be networked by interfacing safe flows across systems instead of ruling over separation of boundaries. There isnt a single global metrics profession that gets these mathematical -and natural - principles right. Unless we change this global markets will cycle through ever greater collapse and more and more communities will lose sustainability. Mapmaking is that critical an idea to what the net genration will achieve in 2010s; but its also one that children from primary age up can action learn. Its simple. Its just that it works the other way round from top-down people's fatal conceit.
    It explores how to make the invisible principles and practices of real wealth creation visible, and therefore useable. Our planet needs case studies underline the search for new win-wins that build ‘system integrity’
    Trust-flow is the unseen wealth to invest sustainability in. Tranpsarently mapped it develops a goodwill gravity  tyhat invites with roleplayer in a community to multiply goodwill while sustaining their own cashflow.. Trust is not some vague, mushy, abstract warm-hearted sentiment. It is an economic powerhouse – probably just as economically and socially important as oil.
    The point is, there are specific things you need to do to get trust flowing, just as there are specific things you need to do to get oil flowing. And like oil trust has a dark side. Right now, the world is awash with the carbon emissions which threaten the stability and sustainability of its ecosystems. Right now, the world is also awash with the ‘carbon emission’ of trust – mistrust. Indeed it may well be that our ability to tackle the one issue – the threat of environmental catastrophe – depends on our ability to tackle the other issue: how to generate, deepen, extend and sustain trust.>br>But what is the best way of doing this? One thing is for sure. You don’t build and sustain trust via some sentimental exercise of goodwill to all and sundry. There are three very simple principles at the heart of effective trust generation. 
    First, trust is generated via win-win relationships. It’s virtually impossible to generate or sustain trust without mutual benefit for those involved. But beneficial outcomes are not enough in themselves. For trust to be built and sustained, both sides need to signal a demonstrable commitment to finding win-win ways forward. Such a  commitment may require real changes to what we say and do. Second, real ‘win-wins’ are hardly ever purely financial or material. You don’t build trust simply by walking away with more cash in your pocket. Trust works at all the dimensions and levels of human exchange. Yes, it’s about financial and material rewards. But it’s also about purpose (what people want to achieve). It’s about politics with a small ‘p’: the use and abuse of power, the crafting and application of rules of fair play. And it’s about emotions: the sometimes overwhelmingly strong emotions, both positive and negative, that are generated when people deal with other peopleWhat’s constitutes a ‘win’ – a sense of real improvement – is therefore highly specific. It depends absolutely on the details of who the parties are, what they are trying to achieve, in what context. Building trus, therefore involves discovering these specifics. Just as oil doesn’t flow out of the ground, get refined and pump its way into motor vehicles automatically and without effort, so identifying and doing what is necessary to get trust flowing requires dedicated, skilled effort. It requires a disciplined, structured process, not a vague sentiment.

    3) Third, even if we do steps 1) and 2) there’s still a good chance it won’t succeed. Why? Because it ignores an invisible third factor. In the real world, purely two way bilateral relationships don’t exist. There is always a third party whose interests or outcomes are affected by what the other two parties do but who is not a party to the contract. The environment is a case in point. Producers and consumers may both benefit from buying and selling to each other – but what happens if, in doing so, they destroy the environment they both depend on?

    This raises a hugely important question. When two parties pursue win-wins and build mutual trust, are they doing so in a way which creates a win and builds trust for the third party at the same time? Or are they simply pushing the problems – and the mistrust – further down the line on to this third party? Building vigorous, healthy networks of trust is a different kettle of fish to ‘you scratch my back and I’ll scratch yours’ win-win conspiracies. It requires a Map of all the key relationships plus careful consideration of knock-on consequences. It requires a different perspective.

    These three simple, basic steps do not happen automatically. They need to be worked at. The territory needs to be deliberately Mapped and explored. What’s more, there are obstacles in our way – mental and practical obstacles that need to be cleared. Prevailing economic theories about ‘rational economic man’ for example, deny the need to commit to win-win outcomes. Instead, they promote supposedly ‘rational’ (i.e. narrowly selfish behaviours) which actively undermine trust The same theories insist that the only valid measure of human benefit is money, thereby excluding from consideration many of the biggest opportunities for improvement. Meanwhile many vested interests do not want to extend the circle of trust to third parties and complete networks because their positions of power depend on their ability to take advantage of the weaknesses of these third parties. That’s another job for Mapping: helping to identify and mount such obstacles.
    The potential benefits of doing so are unthinkably huge. They start with a simple negative: the relief that comes from when you stop banging your head against a brick wall. Mistrust breeds wasteful, wealth destroying conflict that tends to feed on itself. Anger and hatred engender anger and hatred. Simply easing or stopping the terrible waste of mistrust would transform prospects for many millions of people. We desperately need to find ways of doing this. Then there are the positive benefits. Understanding the real nature of human wealth – all those dimensions of purpose, ‘politics’ and emotion as well as money and material comfort – means we can start being human again; human in the way we think, and act. What’s more, many of these intangible benefits won’t cost a penny. They’re there for the taking, if only we puts our minds to it.
    But there’s more, because trust is also an economic superpower in its own right. In the pages that follow we will show conclusively that material and financial riches are also dependent on trust. In fact, we will argue the case for going one step further. We will say that material and financial riches are a by-product of trust: the visible fruits of invisible, intangible human exchange. Once you understand that sustainable cash flows are a by-product of sustainable trust flows, your understanding of what makes a successful business is transformed.
    Separately, each of these three fruits – reducing the waste of conflict, unleashing the potential intrinsic benefits of human exchange, and energising the sustainable creation of material wealth – are massive in their own right. Put them together and they represent a vast new continent of opportunity.
    As we said, this book is addressed to entrepreneurs and system  innovation revolutionaries. Wherever you happen to be, whatever the change you want to make is, the principles explored in this book apply. The wish to change and the will to change are not the same as being able to change successfully. For that you need to understand your territory. You will need new Maps

    joyofeconomics.jpg

    0.1 Has a continental or worldwide search solutions on job creation that can be replicated across communities been organised before this EU launch of Nov 2011?
    While alumni of entrepreneurial economics have always valued job creation searches- we know of no clear evidence that this has been top of mind in the way that continental-wide government has operated since 1984 even though it was scripted by The Economist's Unacknowledged Giant as the number 1 question the first net generation would need to mediate if sustainable futures and humanity's most needed millennium goals are to be served
    what's different about nov 2011 is 4 top directorates of the EU have nailed their future reputation to this search -more
    1mobamauniobamauni@obamauni bon mots hillary zero sum thinking leads to negative sum results http://www.erworld.tv/id347.html
    1hHCL TechnologiesHCL Technologies@hcltech Press Release: #HCLT listed for the fourth consecutive year in the @WorldBlu's "Most Democratic Workplaces" list. http://hclte.ch/KbzBGH Retweeted by Traci Fenton
    49mAl RobertsonAl Robertson@al_robertson About last night's British Council @time_image film collection launch, with three of my favourite BC films! http://bit.ly/IJwmsc #WhoWereWe Retweeted by Lloyd Davis

    The End of the EU part 1 http://www.pbs.org/newshour/rundown/2012/06/paul-krugman-on-europe-doing-the-unthinkable.html

    TRANSCRIPT: 'The Unthinkable'
    Video above.

    Tom Ashbrook: You're talking about, writing about the end of the EU, the end of the common currency.

    Paul Krugman: it's unthinkable except that continuing down the current path is unthinkable. Spain is actually the epicenter. The Spanish government did nothing wrong. Spain was running a budget surplus before the crisis. It had low levels of debt. But it had a monstrous housing bubble, as did a lot of places, largely financed by the way by German banks which were lending to Spanish banks, which then lent on. And when the housing bubble burst you were left with a severe, extremely severe recession, and so the answer has been government austerity which just makes the slump deeper.

    The alternatives to a breakup of the euro have to be Europe-wide solutions. And so the solution, if there is one, involves accepting a higher rate of inflation for Europe as a whole and that particularly means higher inflation in Germany.
    --Paul Krugman

    What are Spain's alternatives here? Well, if they still had their currency, their own currency, the answer would be devalue, let the peseta drop, Spanish exports would become a lot more competitive, they'd be well on their way to recovery. They don't have their own currency, so people are saying: Well, you have to do all this stuff to stay within the Euro. At some point you say: Well, you know if your answer to our problem is just ever more suffering, ever more you know... 25 percent, 50 percent youth unemployment. If that's your notion of a solution, then maybe although it would be a very terrible thing to have the Euro breakup, maybe that's better than what we're doing. So that's becoming a real possibility now.

    The alternatives to a breakup of the euro have to be Europe-wide solutions. And so the solution, if there is one, involves accepting a higher rate of inflation for Europe as a whole and that particularly means higher inflation in Germany. Talk to the Germans about this and of course they go crazy, but you have to say to them: What is your answer? What you're doing right now is just a path to the collapse of the euro with enormous damage and radicalization and a lot of things that you don't want to see happen in Europe happening.

    TA: If the Germans can't take their foot off the brakes, they're just intrinsically and against history and everything else, Weimar, if they can't do it, what happens?

    PK: Then Europe breaks up and... No, I mean I think it's that stark. It really is, it really is that extreme because you know it's one of those things, you can't be saying that, but then you say: Well, let's talk this through. You know, let's as it said in the original edition of the Godfather - Let us reason together. Right? What are the ways that this can work out? And the current path is not one that can work out.

    It's like an irresistible force hitting an immovable object. On the one hand it's unthinkable that they'll allow the euro to fail because the euro is a terribly important thing, it's not terribly important economically, it would have been better off if they'd, if they had never done it, but now that it has been done, for it to fail is a defeat for the European project, the whole project of bringing peace, democracy, integration to a continent with a terrible history. So it's unthinkable that they'll allow it to fail, but it's also unthinkable that the Germans will accept moderate inflation which is the only solution any of us have been able to come up with. So one of two impossible things is going to happen. Your bet.

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