Creditocracy And the Case for Debt Refusal by Andrew Ross

By Andrew Ross

Creditocracy (n.)

1. governance or the retaining of strength within the pursuits of a creditor class

2. a society the place entry to important wishes is financed via debt

It feels like pretty well every person – householders, scholars, people who find themselves ailing and with no medical health insurance, and, after all, bank card holders – is as much as their neck in debt which may by no means be repaid. seventy seven% folks families are heavily indebted and one in seven american citizens has been pursued by way of debt creditors. the key banks are higher and extra ecocnomic than prior to the 2008 crash, and legislators are all yet powerless to convey them to heel.

In this forceful, eye-opening survey, Andrew Ross contends that we're within the merciless grip of a creditocracy – the place the finance commandeers our elected governments and the place the citizenry need to take out loans to satisfy their uncomplicated wishes. the consequences of mass indebtedness for any democracy are profound, and background exhibits that at any time when a creditor classification turns into as strong as Wall road, the end result has been debt bondage for the majority of the population.

Following within the historic culture of the jubilee, activists have had a few good fortune in repudiating the accounts of constructing nations. The time is ripe, Ross argues, for a debtors’ circulation to take advantage of an analogous types of ethical and criminal arguments to carry aid to loved ones borrowers within the North. After interpreting the types of lending that experience contributed to the main issue, Ross indicates methods of lifting the weight of illegitimate bills from our backs. simply as vital, Creditocracy outlines the type of replacement economic climate we have to change a predatory debt-money method that in simple terms advantages the 1%.

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The living wisdom of self-transcendence in its most radical or perfect form is not to be found in conventional religion or in stock prescriptions for self-knowledge or self-actualization. Why? Because conventional religion is ego-based, and the ego balks at the idea of its own negation. It disallows itself to contemplate the possibiliry of its own superfluousness. Hence self-improvement is substituted for self­ transcendence, precisely because the former leaves the ego intact. But utter self-transcendence, or "ego death," is not something that the self would naturally entertain.

C. Sagan, The Dragons of Eden: Speculations on the Evolution of Httman Intelligence (New York: Ballantine Books, 1978), p. 192. 57. , p. 193. Science and Transcendental Realization While analytical 49 thinking is a valid and useful strategy or cognitive style, it must not become a habitual disposition. For, chronic exercise of the verbal, sequential mind is purchased at the expense of human emotion, or depth of feeling. Scientists are, generally speaking, personalities who are predisposed to emphasize (and overemphasize) the left side of our brain.

Science and Transcendental Realization 35 knowledge of death, and from all suffering, which is separation and death. Trouble begins only where there is identification with the seeker. But Truth is not the notion: "I am not the seeker-! " Truth is simply the understanding of seeking. 45 Thus, the scientist is as implicated in this search as the religionist. Both are suffering; both are afraid of their own mortality; both are constantly looking for a way out of their existential dilemma. A nd neither of them is capable of breaking free by means of their incessant seeking.

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