It's probably as legible as Econ gets.. when addressed by one not Koolaid-addicted.
Could extirpate a few quotes, etc. but couldn't come close to a better-grade Manifesto--it's all just too icky.

Here's one respondent's take--which just may limn the Reasons why:
the changes which Must Occur worldwide--IF there is to be any intelligent action-in-time to counter
(say) The effects of mindless consumerism, extrapolated==Death.
Simply Won't Be Allowed to Occur.

Graydon said...

Incumbents hate change.

The US economy is in the control of a small number of large incumbents.

When change is low, growth is low. (Very slightly more formally, you have success, or you can have control; an incumbent _has_ success, so they want control, to make sure they _keep_ the success. They shove risk on to everyone around them, prevent ostensible change, and make the system unstable.)

The analysis suffers from relying on impersonal forces. There's not a lot to be said for impersonal forces in terms of economic direction, it's primarily a matter of consensus among the powerful. The 90s were a period of growth because the powerful got utterly, hopelessly, what-the-hell-is-this? blindsided by VLSI chips and the implications for human communication.

The correct policy response is to de-financialize the economy in a way that crushes the incumbents. None of this mamby-pamby court-ordered breakup of monopolies, either, well and truly crushed.

Because the *potential*, between what you can really do with ubiquitous computing and the increasingly capable wet-nanotech and additive machining, is vaster than coal and oil and steel and steam all together. We're just not going to get it.

Our antediluvian concepts of Money/a price-tag on the entire "Worth!!" of the Planet?
A stupid mere Concept: enabled the present oligarchy of financial manipulators to Pwn It All.
(As they also pwn the instruments of War: That, even, can't occur!--even to cleanse the Madness.)


Entropy, Our only totally-predictable 'net output' since the hunter-gatherers'?
The 'chill' of the Solstice day is mere thermodynamics; *this* chill is existential.
Invisible to most-all of the current billions. We might change that.. Awareness -vs- Capital, eh?


Ed: forgot:

Joh Yard said...
We are getting the growth we want - growth in financial asset values. If we can't monetize it quickly , forget about it. This is what "unlocking shareholder value" is all about.

Raising the production of goods and services is seen as 20th Century old school. It is seen at best as a necessary evil, hopefully avoided, in the game of asset value accumulation. Until there is a turnover in capitalist elites to a different ethos we wont see change.

The most interesting aspect of the Great Recession was something that did not occur: the turnover of financial and industrial elites that happened after 1929 has not happened.

Bold for the bold?
Make that 2 votes then, for where to focus that er Energy in, 'People' -vs- Top of the Capital-Pyramid.
Out of 7Bs.. not many heads would roll.. quite fewer than 1st day civilians in Iraq.