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Urgency of this question accelerated summer 2015 as perason sold offf finacial timjes to japan, and then put THe Economist up for sale


here are some contributions to this urgent systems and mjedia debate


  I understand it maybe a contrarian view but I dont believe The Economist's success was due to journalistic independence alone


Quite early on The Economist became Queen Victoria's organ for a nobler commonwealth view than top-down empire as well as severe test of going beyond Dickensian leadership by London's owners of industrial revolution - so it enjoyed scoops from the good and maybe home networks like royal society of arts


1943's first 100 years autobiography of The Economist compiled by Geoffrey Crowther details the multiple layers of being the social action vision of the good not just the great; in parallel the last pages of Keynsian general theory (attached) have always been father's most valuable text on the exponential Hippocratic Oath of economics as a profession -the exact opposite of big accounting quarterly past analyses; of course his upbringing under grandad's consular duties in Stalin and Hitler's Europe, navigating airplanes as teenager in world war 2 over modern-day Bangladesh, being last to be mentored by Keynes in Cambridge, marrying daughter of the Scottish barrister whose 25 year engagement with Mahatma Gandhi ended in writing up legalese of India's independence all made dad value Keynes more than anyone else ever has  -these create biases in editing optimistic rationalism not dismal science


What else  happened 1943 to 1993 is something I myself am biassed about ; I know what my father tried to do


He was first among reporter  the EU and NHS as wonderful concepts turned within a few years into disastrous traps in which an old generation would bubble conflicts and debts onto next generation


You can search archives of how the infant alternative mindset of macroeconomics took over as did ever more bubbled paper currencies. Dad's alternative to support Japanese then Chinese models of above zero sum world trade (all related to doubling spenps on global village tech every 7 years between 1946 to 2030 - that 2**12 more spent on death of distance and borderless learning infrastructures) but dad lost out in Nobel Economics Prize to those who designed the MBA curriculum


More variety of leadership information passing through St James offices than anywhere on pre-digital planet

 Something not to be over-rated in the days before the top staff went mobile almost anybody changing the world dropped in for the Friday lunch -so that gave The Economist journalists a local to global storybook like no other


My father knew what Einstein and Von Neumann thought of  (small) chances of borderless tech world being sustainable first handed - hence from 1972 he tried to timeline every sustainability goal- 1972 was when i first showed him students testing online learning networks at the UK national development project for computer assisted learning


and when dad launched our 1984 book with chapter on Berlin Wall falling before the online learning story it sort of broke my heart = the only influencer who believed the scenario was George Soros as far as I have ever been able to find


So who would an independent network of journalists actually need as the greatest sources today in last 10 years determining human sustainability's irreversibility:

  • i'd still go for online learning and china's transfer of coursera founder Andrew Ng  to Baidu
  • i'd still connect with Soros open society and reform economic networks
  • I work with nations who declare they want a whole new education system round the goal of turn 15000 underprivileged youth into having open source or social microfranchise entrepreneurs - several models blossoming around alternative billionnaires to this to bill gates group including the Richard Branson /Sara Blakely duo and some heartening education experiments in the Gulf's superports
  • i'd link in with movement afoot that the UN will change totally its accreditation of academic partners if the womens empowerment candidate succeeds bank ki moon


and yes anywhere i can celebrate the edgiest value chain dynamics of Jim Kim's work that's virally worth investing millennials in - will The Economist post september 2015 celebrate a correspondent of that form of development starting with World Bank Peru meetings early October


i guess that diversity  in the next 10 years curriculum of economics as distributed on satellite learning platforms will  determine value of economic journalism and livelihoods of millennials out of ever place. Open learning is the most exciting entrepreneurial revolution of all because knowhow can abundantly multiply value in use unlike the scarcity economic models of consuming up things , extracting from environment and externalising risk onto the least knowledge-connected



I dont have my dad's ability to simplify above -sorry!

chris macrae dc 240 316 8157


Foundation Text Father would refer to as an alumni of Keynes

Keynes General Theory of Employment, Interest and Money- extracts from concluding chapter


The ideas of economists and political philosophers both when they are right and when they are wrong are more powerful than is commonly understood. Indeed the world is ruled by little else. 

Practical men who believe themselves to be quite exempt from intellectual influences are usually the slaves of some defunct economist. Madmen in authority who hear voices in the air , are distilling their frenzy from some academic scribbler of a few years back. ..In the fields of economics and political philosophy there are not many that are influenced by new theories after they are 30 years of age, so that the ideas which politicians and civil servants and even agitators apply to current events are not likely to be the newest. Sooner or later it is the ideas which are dangerous for good or evil


The outstanding fault of the economic system in which we live are its failure to provide for full employment and inequitable distribution of wealth and incomes. .. For my part, I believe there is social and psychological justification for significant inequalities of income and wealth, but not for such large disparities as exist today. .. Historic justification is a moderately high rate of interest has been thought of in terms of providing a sufficient incentive to save. But we have shown that the extent of effective saving is necessarily determined by the scale of investment and that the scale of investment is promoted by a low rate of investment provided that we dont attempt to stimulate it in this way beyond the point which corresponds to full employment. That is it is in our best interest to reduce the rate of interest to the point relatively to the marginal efficiency of capital at which there is full employment.



I have pointed out in the preceding chapter that under the systems of domestic laisser-faire and an international gold standard such as was orthodox in latter half of the 19th century, there was no means open to a government whereby to mitigate economic distress at home except through the competitive struggle for markets. So all measures helpful to a state of underemployment were ruled out except measures to improve the balance of trade on income account. So statesmen were moved to believe that if a rich old country were to neglect the struggle for markets its prosperity would droop and fail. But if nations can learn to provide themselves with full employment by their domestic policy (and we must add if they can attain equilibrium in the trend of their population) then there need be no important economic forces calculated to set the interest of one country against that of its neighbours... International trade would cease to be a desperate expedient to maintain employment at home by shifting the problem of unemployment to the neighbour who is worsted in the struggle, but a willing and unimpeded exchange of goods and services in conditions of mutual advantage.


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