"Alchemical Economics"
Herman Daly

A review of H C Binswanger's Money and Magic: A Critique of the Modern
Economy in Light of Goethe's Faust
(University of Chicago Press, 1994)

H C Binswanger is founder and director of the Institute for Economics and
Ecology at the University of Saint Gallen, Switzerland. Long an important
figure in the German-speaking world, his work has been too little known
among English readers. That alone makes this little volume very welcome.
The importance of his theme, and the scholarship and insight with which he
develops it, merits the widest possible readership.

The theme of the book is that mainstream economics is alchemy carried on
by other more effective means. Perhaps ecological economists should stop
using the term "mainstream economics" and substitute "alchemical
economics" as a more descriptive name for that which we are trying to
reform. This is by no means a mere rhetorical flourish. It is historically
and logically well founded. The prince of Orleans, like other royalty,
employed court alchemists in the hope that they would produce gold, with
which he could pay off his debts. But when the prince attracted Scottish
financier John Law to his court, he promptly dismissed his alchemists
because the paper money scheme introduced by Law was a more effective way
to redeem his debts. The goal of alchemy, to turn worthless material into
gold, remained unchanged. The worthless material of paper just proved more
receptive to transmutation than lead had been. The transmutation of paper
into money remains fundamentally a "chymical wedding" of mercurial, liquid
imagination (imagining it to represent unmined gold still in the ground)
and fiery, sulfurous impression (the impressive authority of the emperor's
signature on the note). But this is getting ahead of the story and into
"technical" alchemy.

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"David Harvey on the Enigma of Capital" Lenin's Tomb What are the limits to capital, and how does it overcome those limits? This is a pressing issue given the global crisis. We need, at the very least, to understand the the prospects for getting any half-way decent settlement out of it for the working class. Capitalism is a perpetual expansion machine and, as Marx noted, it cannot abide limits. It has to conquer all social and spatial barriers, and "annihilate space with time". A simple way to see this is to describe the capitalist transaction: one starts the day with some value (money), purchases labour power and some means of production and - if one has a good day - generates a surplus which is realised in the market. What then happens at the other end of the transaction? A reasonable person would spend the money on a good time, but a capitalist is coerced by competition to reinvest some of the surplus in expanding and generating even more surplus. Expansion is a structural imperative of the system: capitalism requires compound growth.
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Celebrate Five Years of Red Emma's at the Red & Black Ball! December 19, 2010 7:30PM - 11PM, at 2640 Saint Paul Street That's right my fellow mischief-makers: the Red Emma's Red and Black Ball returns again this year on December 19! Join the Red Emma's collective as we celebrate the traditional anarchist gift-giving season with an all-out, over-the-top evening of revelry in your Victorian-era red and black finest! Think Victorian-era dances, parlour games, phrenology, and, of course, spirits to warm your body and soul. Think renaissance festival dress gone anarchist. Think steampunk. Think Alan Moore ("V for Vendetta," League of Extraordinary Gentlemen"). Live and DJ'd music throughout the evening, as well as performances, games, "etiquette" lessons, phrenology, and more, led by our very own Master of Ceremonies, Ryan Coffman, with the help of a variety of Baltimore favorites! Plus ... freakin' amazing vegan cake. And booze. Last year's Red and Black Ball was possibly one of our favorite events we've ever pulled together ... and this year's ball is sure to be even better, because it also doubles as our fifth anniversary party! So pull out that fancy dress you picked up at a thrift store; borrow your brother's tuxedo! Make a mask, or grab one at the door! This is the holiday party you don't want to miss ... come out and celebrate with us! It all takes place at 2640 Saint Paul Street, December 19, starting at 7:30PM. Tickets are $10-$15 sliding scale, and include food and a free drink. Masks provided for those who need them. Proper attire is NOT required, but isn't it more fun to cobble a costume together? Email info@redemmas.org for more info ... this event is all-ages, and no one turned away for lack of funds.
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Protecting His Sources Scott Jaschik Inside Higher Ed Social scientists who study illegal activities periodically face criticism for their commitment to protecting the confidentiality of their research subjects, who regularly break the law. Supporters of Scott DeMuth, a University of Minnesota graduate student in sociology, say that his recent prosecution by federal authorities is an extreme and dangerous example of such criticism. Professors are organizing on his behalf, saying that federal authorities are using inappropriate measures to try to get DeMuth to reveal what he knows about underground animal rights groups. The case may be a difficult one for some in academe because the victims of the criminal activities DeMuth may have studied are academics: The legal dispute involves an investigation into an attack on research laboratories at the University of Iowa in 2004. The attack -- for which the Animal Liberation Front claimed responsibility -- included vandalism of facilities, the removal of rodents being studied, and the trashing of faculty offices. Many professors and graduate students lost years of work as a result of the attack. A grand jury is hearing testimony about the attacks, and DeMuth was ordered to appear before it last month, after authorities came to believe he had knowledge of the attacks, based on a journal he had that was seized in the investigation of protests that occurred during the 2008 Republican National Convention.
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Victor Jara Laid to Rest 36 Years After Murder Pete Seeger Speaks About Victor Jara The body of Victor Jara was finally laid to rest today 36 years after he was tortured and murdered in the US-backed military coup that brought General Pinochet to power. Jara was a much loved folk singer and composer and also a member of the Chilean Communist Party. Thousands of people, including his British born wife Joan and the Chilean president, attended the funeral. Pete Seeger said of him, 'As long as we can sing his songs, Victor Jara will never die'. Footage of Pete Seeger speaking about Victor, from THE POWER OF THEIR SONG / LA FUERZAS DE SUS CANCIONES, a work-in-progress documentary by John Summa and John Travers: http://www.johntravers.com/Pete-%20Victor%20cut%204.mov More coverage, from Gideon Long in Santiago, reporting for the BBC: http://news.bbc.co.uk/2/hi/americas/8397686.stm
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Leaked Agreement Rocks Copenhagen Emma Alberici, Australian Broadcasting Company The Copenhagen climate talks have been rocked by the leak of a draft final agreement which weakens the role of the United Nations in climate change negotiations and abandons the Kyoto Protocol. The "Danish text" draft agreement, published by the UK's Guardian newspaper, has been described as a dangerous document for developing countries.
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Art Auction to Benefit Imprisoned New York City Social Justice & Environmental Activist Daniel McGowan NEW YORK, NY – On December 7, 2005, New York City activist Daniel McGowan was among the first people arrested as part of an FBI offensive against environmental activists called "Operation Backfire", which activists have dubbed part of the Green Scare (after the Red Scare of the 40s and 50s). Daniel began serving his seven-year sentence in July 2007. In August 2008, Daniel was moved to the Communication Management Unit (CMU) in Marion, IL, a federal prison unit that bypassed the usual review process and severely restricts inmates' communication with the outside world.
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Danish Police Issue Protests Warning Ahead of Copenhagen Climate Summit TheCatalystCell COPENHAGEN - Danish police this weekend spelt out a tough warning about any violent protests at the 12-day UN climate conference starting in Copenhagen on Monday. "We are ready," Mogens Lauridsen, head of operations at Copenhagen police, told AFP late Saturday. "We have mobilized enough force from the entire kingdom to handle the heaviest task the modern police has ever been called upon to assume," he said. "We have anticipated every contingency, including the worst. We are confident, but we expect excesses because there will surely be protesters looking for violence." Six thousand police -- more than half of all the police in Denmark -- are being deployed in the capital. They could be reinforced to 9,300 men if need be, he said.
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Copenhagen Climate Bottom Meeting Christiania We want to create a Climate Bottom Meeting parallel to the big climate summit, where we, in a casual/relaxed atmosphere, will present 'Windows of Hope' to the world. This conference will present a number of practical sustainable cities and eco-village initiatives around the world, showing different solutions to overcome the world's ecological, social, spiritual and economic challenges. There will be a variety of lectures, workshops, dance, and music. Throughout the conference, representatives from indigenous groups from all over the world will hold ceremonies as an inspiration and guidance to us all. Our hope is that the fusion of indigenous knowledge and practices with the lifestyles of eco-villages and sustainable urban communities will offer the fresh ideas and impulses that we need to lead Earth-friendly lives.
Riots in Greek Cities on Anniversary of Grigoropoulos Murder Anonymous Comrade Riots have broken out in Athens and Salonica during the first day of A. Grigoropoulos murder anniversary with police demonstrating extreme brutality leaving two people seriously wounded by a motorised charge on the Athens march. Police brutality during the marches to comemmorate the first anniversary of Alexandros Grigoropoulos murder surpassed any limit today, in a coordinated operation of barbarity and crude violence against protesters across greece. Under socialist orders police violence has left dozens of people wounded.
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