PoorNoMore — ஏழைகளே இல்லாத உலகம்

How France and the Eurozone Can Escape the Austerity Trap by Re-Anchoring Economy to Real-Resource Deployment 1. The Echoes of 1971: The Fallacy of Paper Anchors In August 1971, President Richard Nixon unilaterally ended the convertibility of the US dollar into gold, dismantling the Bretton Woods system in an event history records as the "Nixon Shock." What is often glossed over in orthodox financial history is what forced Nixon's hand: it was France’s refusal to accept a monetary illusion. Under President Charles de Gaulle, France recognized that the United States was issuing paper claims far beyond its real-resource capacity, using its reserve currency status to export domestic inflation while absorbing the tangible physical assets of other nations. When France dispatched navy vessels to convert its dollar reserves into physical gold bullion, it exposed a fundamental law of political economy: a monetary standard built on paper claims that cannot deliver real phy...

Why can't the basic sectors producing the universal essential needs be freed from profit-seeking private sector participation? 1. A question we rarely ask Every human being needs food, water, shelter, energy, healthcare and other essentials to live with dignity. These are not optional consumer preferences. They are universal human needs. Yet the production and provision of these necessities are largely organised through an economic system in which access depends on purchasing power, while production and investment are substantially influenced by the pursuit of profit. Why should this be the organising principle for meeting universal human needs? Why should the ability of people to obtain life's necessities depend on whether supplying them offers an attractive commercial return? This is not an argument against private enterprise. Nor is it a proposal to place every economic activity under state ownership. It asks a more fundamental question: Should the production and pr...

Counter to the 2026 Nobel Prize Framing: Why Real-Resource Deployment - Not Individual Agent Optimization - Is the True Micro Foundation. The 2026 Sveriges Riksbank Prize awarded to Robert E. Hall and Michael Woodford recognizes important technical advances in building macroeconomic models from the optimising behaviour of households and firms (forward-looking consumption, sticky prices, expectations).  Their New Keynesian framework improved the toolkit for interest-rate based stabilisation policy. Yet it remains incomplete, and ultimately not solution-oriented, because it still treats the core problem of the modern economy as volatility around a market-determined path rather than as the systematic under-deployment of real resources. 1. The Nobel micro foundations still leave resource allocation to the market Hall and Woodford derive aggregate outcomes from individual decisions under constraints.  Policy then acts mainly by adjusting interest rates to influence those decisio...

The Myth of Inevitable Poverty | Part 1 | PoorNoMore https://youtube.com/shorts/g061EhVrmqo?si=CMU1C56n4dMglJd- The Myth of Inevitable Poverty | Part 2 | PoorNoMore https://youtube.com/shorts/YP8V8ZqcsVI?si=JxejVtV6wWGR0VnQ The Myth of Inevitable Poverty | Part 3 | PoorNoMore https://youtube.com/shorts/jo1vjocFldA?si=JsGzjCNGhNycrXDS The Myth of Inevitable Poverty | Part 4 | PoorNoMore https://youtube.com/shorts/gj_8zOhAatU?si=YuRvjmR0XvP69170 The Myth of Inevitable Poverty | Part 5 | PoorNoMore https://youtube.com/shorts/T1QP9hzewpA?si=DhcIN7VupBYeYYmQ The Myth of Inevitable Poverty | Part 6 | PoorNoMore https://youtube.com/shorts/oewWATh_Bmk?si=td1xORXrTY0wznF1 The Myth of Inevitable Poverty | Part 7 | PoorNoMore https://youtube.com/shorts/0KLXScyYdFA?si=0MKSVI-KykVTwQ0p The Myth of Inevitable Poverty | Part 8 | PoorNoMore https://youtube.com/shorts/Z2MTEgLzX0U?si=S-f6MFEN7R5Er8rh The Myth of Inevitable Poverty | Part 9 | PoorNoMore https://youtube.com/shorts/bXOSh5dlBiM?si=zpOxpEBP7...

Shashi Tharoor's recent article raises an important warning. Over the coming decade, around 1.2 billion young people in the Global South are expected to reach working age, while current projections suggest that only about 400 million viable jobs will be created. The World Bank itself describes this as a defining economic and strategic challenge. Lack of viable jobs is given as the reason for the resulting gap of nearly 800 million jobs. Viable Jobs - Is that the Criterion? Viability is applicable to commercial ventures, not to nations building their productive capacity. This is the difference between the magical growth of the Chinese economy and much of the rest of the world. China did not build its extraordinary productive capacity by first asking whether every factory, railway, port, energy system or industrial ecosystem was commercially viable. It built them as part of a national productive-capacity project . China accumulated factories, machine tools, shipyards, ports, e...

Nobel Laureate Daron Acemoglu has raised a series of questions about Artificial Intelligence. Each goes beyond the usual discussion about how powerful AI will become. The questions are about intelligence. Democracy. Investment. Inequality. Health. And now, decentralisation. These are important questions. But perhaps they lead us to one larger question: Who should control the extraordinary productive power that Artificial Intelligence is creating? And an even more fundamental one: How can that productive power be used to improve the lives of everybody? The First Question: Is AI Really Intelligent? Acemoglu asks whether Artificial Intelligence is moving towards superintelligence or whether much of what we call AI is actually a form of “distorted intelligence”. He questions whether systems designed to pursue specified goals autonomously should necessarily be described as intelligent in the broader human sense. This distinction matters. A system can become extraordinaril...

Governments issuing their own non-convertible currency no longer need to obtain their own currency before they can spend. Yet the institutional framework inherited from earlier monetary systems continues to be interpreted as though that earlier constraint still exists. *Throughout this paper, "government debt" refers primarily to the outstanding government bonds (more broadly, government securities) issued by governments. Introduction Government debt is everywhere. It is discussed by governments, economists, financial markets, journalists and citizens as though its meaning were self-evident. When government debt rises, concern follows. When deficits increase, calls for fiscal discipline become louder. When bond yields rise, governments are warned about the confidence of investors and the sustainability of their finances. And when government debt becomes large enough, the question is often framed in the simplest possible terms: Who will repay it? The question seems...

தவறான புரிதல் எண் 3: "வங்கிகள் தங்களிடம் சேமிக்க படும் வைப்பு நிதி( deposit amount)யைதான் , கடனாக வழங்குகிறது. அதாவது, வங்கிகள் சேமிப்பாளர்கள் கொடுக்கும் நிதியையே, கடனாக கடன் வாங்குபவர்களுக்கு அளிக்கிறது". முந்தைய பதிவில் , செலவின் மூலம் பணத்தை உருவாக்கும்-புழக்கத்தில் விடும் அதிகாரத்தை கொண்ட அரசாங்கம், எந்த அடிப்படையில் அதனை வெளியிடுகிறது என்பதை விரிவாக பார்த்தோம். தங்க மாற்று நாணய முறை என்னும் தங்கத்துடன் இணைக்கப் பட்ட பண வெளியீடு முறையை கை விட்ட பிறகு, தற்பொழுது உள்ள பண வெளியீடு முறையில்,   வெளியிடும் பணத்தின் அளவு தங்கத்தினை சார்ந்து இல்லை என்பதையும், அரசாங்கத்திற்கு பணம் வெளியிடுவதில், தங்கத்தின் இருப்பை சார்ந்த வரம்போ, தடையோ இல்லை என்பதையும் பார்த்தோம்.  தங்கத்திற்கு மாற்றாக இருந்த பணம், சுய மதிப்பு பெற்றது.  அதன் வெளியீட்டிற்க்கு வரம்பு இருந்தது.  எனவே, நிதி பற்றாக்குறை இருந்தது.    பற்றாக்குறையினால்,   முதலீடு மிகவும் மதிப்பு வாய்ந்ததாக இருந்தது.  தற்பொழுது உள்ள சுய மதிப்பு அற்ற பணம். அரசாங்கத்தின் உத்தரவாதத்தினால், மதிப்பினை பெ...