The Debt-Dollar Discipline - Part III

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ashvinp's picture
ashvinp
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Joined: Jan 21 2010
Posts: 412
The Debt-Dollar Discipline - Part III

Introduction to the final article in The Debt-Dollar Discipline series:

Quote:

     Parts I and II of this series explored the relatively rapid emergence and collapse of global society's debt-dollar discipline, formalized by the Bretton Woods Agreement of 1945, which established the dollar as a global reserve currency. This financial order, currently being disassembled,  was analyzed in the context of Foucault's theory of disciplinary society and Holling's adaptive cycle of complex ecosystems. [1]. The fourth phase of this cycle, following release, is a reorganization of the system's components at a different scale and in a different form. Although the new organizational form will certainly be different from the previous one, it could retain similar properties and evolve in a similar manner, depending on the extent to which previous structures survive the release phase.

     The specific behaviors of a complex system in chaotic release cannot be predicted with any significant degree of accuracy. Broad-based outcomes, however, can be analyzed according to their likelihoods of occurrence, given our knowledge of the present circumstances and the dynamic behavior of complex systems. Once it is established that existing structures of the global financial system will be radically simplified, once can ask to what extent this simplification can be managed and what general forms of organization may emerge.

     A highly-debated issue surrounding the collapse of debt-dollar discipline is whether financial structures in the developed world will first simplify through an episode of significant deflation, or instead an episode of hyperinflation and an ensuing currency crisis. Numerous articles have been written on this topic, including this probabilistic assessment I wrote summarizing some of the main factors involved (for the U.S.), and so that topic will not be rehashed here. Instead, the final part in this series will explore more generalized "big picture" issues, introducing Deleuze's theory of "control society" and then returning to Foucault's original analysis of discipline.

Full piece - http://peakcomplexity.blogspot.com/2010/12/debt-dollar-discipline-part-iii-future.html

sosMsos's picture
sosMsos
Status: Bronze Member (Offline)
Joined: Nov 18 2010
Posts: 42
Re: The Debt-Dollar Discipline - Part III

something to add to Bretton Woods:

http://www.zeitpunkt.ch/news/artikel-einzelansicht/artikel/bretton-woods...

english google translation:

http://translate.google.de/translate?hl=de&sl=de&tl=en&u=http%3A%2F%2Fww...

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