The Chosen Elites: Micromanaging Our Lives

Saturday, June 26, 2004
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Linked on the LRC page today is an exceptional and remarkably pointed piece by Anne Williamson, on the central planners’ hopes for a money-free derivative-o-rama. Williamson focuses on Robert Schiller, of “Irrational Exuberance” fame, and his new book that expresses his desire for an elite group of self-chosen Central Planners to do away with money as a unit of measurement for financial exchange, and hedge all risks, for every person, via an overall “democratization of finance.” More on this later, on my end, but to pull out some quotes from the piece:

* What Shiller really intends to devise for the management of unique risks are derivative contracts based on mathematical formulas he and his fellows will devise and which computer programs will continually adjust; hence, the necessity of a constant flow of data from the populations’ handy, ever-present transponders.

* (A scheme that) would allow the elite to ramp up their manipulations to a new level of constant theft while leaving the common man to sink into the domestic feudal order that would be the inevitable consequence of his being denied the use of money.

* Shiller advocates the utility of

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