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Book Introduction to economics of youth
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Book Introduction to economics of youth
chris macrae linkedin

Who’s World are We Co-Creating

Increasingly only economics rules the world. As a mathematician I find these words of Milton Keynes about as scary as any sentence I have ever read. They imply, for example, that hopes and dreams we invest in democracy - or each joyful generation’s hopeful pop songs like John Lennon’s Imagine - are actually dictated by how peoples, places and society sit within economics’ global scheme of things.

Daring to understand the scheme of things may also unearth such worldwide discoveries as that of Nobel Peace Laureate  Muhammad Yunus :  systemic poverty, into which about a quarter of children are born into round the world, is a consequence spun by 250 years of  man-made economics and woeful media. The mathematician and investigative reporter in me, passed on through several generations of my family tree,  recommends that 21st C humanity (worthy of our species’ sustainability) cannot afford to lurk now that knowledge networks offer the connectivity to openly linkin all communities to life critical information flows. After 26 years of tracking what choice of global economic rules, my gut feels that The Time is Now for people empowerment if this is ever to be http://www.normanmacrae.com/netfuture.html  www.daringnation.com

The unacknowledged giant 

Micro’s Sustainability Rising Versus Macro’s Top-Down

I learnt from the lifetime journalism of The Economist’s unacknowledged giant (aka dad Norman Macrae): Yes Entrepreneurial Revolutionaries Can progress the human lot by wielding an antidote to those who would confine people to economics’ black boxes whilst often themselves being ignorant of the future history consequences they are compounding. Always ask of an economic frame – or decision made in the name of economics- what compound good it does for the next generation. Assume advocacy of any economics proposition is perpetrated by those guilty of not systemically comprehending what future exponential they are developing unless they are prepared to openly debate their case.

Unless systems –rules, communications and investments - are measurable to compounding progress for future generations, economics will achieve the opposite of what the word implies – bubbling up only to cause costly collapses which often trap communities most disconnected from where the speculative power began to spin its badwill.

If Adam Smith’s work around the 1750s is accepted as the source of modern day debates on how economics works, then the scary problem of economics was not of his making, nor of most of his social action disciples through to the early 20th century.  But what happened next was a century of economic fixes and frames sponsored by the big get bigger in North Western hemispheres’ developed nations increasingly drowned the Hippocractic oaths of economists and all the rule-making professions which society gives semi-monopoly rights to command over peoples lives. Ironically we the peoples are too trusting in the assumption that true and fair is organic to each such profession’s behaviours and the overall multidisciplinary governance that comes from interfacing all professionals. This problem is then exacerbated wherever academia abstractly thinks separated disciplinary excellence is all that matters.  The vain desire to over-generalise make such ivory towers ever more distant from communities and cultures  - global professions accidentally become the enemy of local grounding and youthful empowerment that is called for wherever life’s deepest needs require economically customised solutions. This is notable in such community-defining arenas as banking, healthcare, education, clean energy including waters and foods.

Worse 20th C media - wherever it came about by giving away part of the commons so that governments can swell their short-term coffers and popularity – reinforces a double-loop for destroying trust and purposeful leadership. This value destruction is spun in tandem by both the rule-making and communications professions which increase their own costs year on year at the expense of sustainability of peoples’ and communities’ futures.  

THE PURPOSE OF ECONOMICS

For sure, the timelines of the preceding paragraphs are an over-simplification but in tracking the purpose of the majority of current economists, they provide a rough guide to the pressures that have unproductively conditioned the last quarter of a millennium of social and business evolution.   

Adam Smith’s primary motivation in inventing the reasoning of economics was to help prevent other nations of people falling victim to the fate of his beloved Scotland . In an international financial scam round 1700, Scottish people lost half of all their wealth. The result was the hostile takeover by England euphemistically branded United Kingdom . Scotland was in effect partitioned as an early colony of England ’s empire. By 1850 over half of Scots had emigrated making Scots one of the early Diaspora nations with more worldwide peoples than dwellers on Scottish land. The Scottish people prior to 1700 had invested more in education, family and community development than just about anywhere in Europe . The paradox of the demise of a nation that cared so much about communities geared to investing in its next generation is the one I keep in mind in construing every text from Adam Smith’s golden pen. There is continuity in his text and the USA 1776 Declaration of Independence’s productivity meanings of the words happy and free. Similarly we can interpret the albeit more bloody revolution of Scotland ’s auld alliance partners the French. Their transfer of assets back to the people guillotined royalty who had been monopolising productive resources. This is between-take that the coining of the French word entrepreneur celebrates in society’s intended agency of liberte egalite fraternite.

These undercurrents of economics flow through a quarter of a millennium first rising as a joyful science and then falling as a dismal science. This is echoed in the moral sentiments of the centenary biography of The Economist in 1943. Its first hundred years of journalizing had mainly lived up to its Scottish founder James Wilson’s purpose –originally a social business tool that helped him as a Member of Parliament throw out of up to 90% of fellow MPs who had become agents of big vested interests (eg the corn laws) not representatives of peoples.

The Economist 1843-1943

Our centenary at The Economist is a pause in a journey that will continue. To the journalist, a pause for taking stock should be welcome, since it is the nature of his trade that he cannot stop.  Time’s winged chariot is ever at his back. Rarely does he have the chance to lift his eyes from the immediate road. To look at the wider horizon and to ask himself where is he going and for what purpose.

It is still possible by social action to create a world of justice, freedom, and fraternity and of material welfare. Does a journal have the right to influence the course of events? Every serious journalist should ask himself this question and test his answer very seriously. In the case of The Economist, the answer must be that if the journal has no influence then the work of a hundred years has been wasted and generations of readers have been content to buy the paper in misconception of its founding purpose.

We refuse to believe that this (world war 2) is the evening of civilisation. We have perhaps lost the freshness or morning , and in the heat of the day the going is harder than it was. But high noon is yet before us, given clear thinking and courage , we have yet to see the best of the journey. In this great caravan, the journal of opinion, if it is to be humble and honest, has its place. The Economist has stayed with the caravan longer than is given to most. It hopes to stay a great while longer.

It was into this culture that a 26 year old Norman Macrae walked into in 1949. By this time he had read up on an Indian correspondence course on economics while doing his day job as a teenager navigating RAF planes out of (modern day) Bangladesh in world war 2. This he supplemented with a first in economics at Corpus Christi Cambridge at the war’s end. Coincidentally his father’s youth had a slightly different sequence. Having prepared at Corpus to be a missionary for the Scottish Free church, world war 1 interrupted these endeavours, after which he decided on the different itinerant lifetsyle of being a consul at British Embassies. It was through this lens that Norman had first hand observation of capitalism, communism and fascism –and decided that free markets are often put at risk by big systems and big vanities.

Orwell’s Only Mistake- Timelining the endgame of pervasive technology one generation early?

These were the 3 main stories my dad chronicled and their connections resonate with both some social luminaries (Gandhi. Orwell ... ) and mathematical luminaries (Einstein, Von Neumann) of the 20th Century:

· The war between macroeconomist and entrepreneurial revolutionaries over which exponential futures people will be ruled by

· The sustainability of Asian economics in the second half of the 20th C relative to NW hemisphere’s macroeconomics – 1962 Consider Japan ; 1975 the coming Asian Pacific Century; 2008 Consider Bangladesh as microentrepreneurial networking nation

· How the generation 1984-2024 would compound 10 times more or less productivity depending on the way the net generation integrates societies and economics with all to exponentially play for in the 2010s the most exciting decade to live on earth

                      

ECONOMICS FOR EVERYONE 

This book is concerned with offering economics maps that everyone from 11 years up can help to quiz peers on and so navigate productive nd goodwill multiplying worlds. We will not primarily work on the 20th century incident list of economics compounding ever more costs – eg the case after world war 1 where governments suddenly permitted themselves the printing of paper currencies absent of any precious metal collateral. We are glad to hear that Adam Smith’s own home Glasgow University is working on a full correction to macroeconomics compendium of wrong turns.

Our map:  explore economics built round human beings’ lifetimes of purpose and endeavour. In preview: Productivity is generated by people. How human beings’ learning curves over time are actioned, the emotionally intelligent energy of the teams we serve, the communal networks of goodwill relationships we multiply, the purposeful systems empowered by organisations people want, global markets focused on safely mapping futures youth need investment in if a region is to develop, exponentially sustaining integration of the diversity of societies’ natural resources and community infrastructure. Economics can transparently map multi-wins between productive inputs and the demands people make : for jobs, as customers, investors, societies and future purposes that truly free global markets sustain.

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