Putting the Commons in Creativity

The Second Tech Phase: pt2 on Collaborative California, on the need for a fairer internet by Renegadeeconomists on Mixcloud

Renegade Economists show 353

As broadcast on 3CR Wed August 13th, 2014

Part 2 of the Collaborative California presentation assessing the incredible wealth amassing in the tech sector alongside the accompanying gentrification pressures being used as a diversion from systemic analysis. Part 1 can be listened to via our new Mixcloud page.

This show features Neal Gorenflow (Shareable), Janelle Orsi (Sustainable Economies Law Centre) and Tracey from Fruitvale Station.

Show Notes
References as mentioned in the show:

Our 123rd Annual Henry George Commemorative Dinner – featuring John Freebairn, Wednesday Sept 3rd.

Churchill on Southwark parish and the effect of free food on raising rents.

BART police shooting of Oscar Grant (Fruitvale Station)

LA River discussion with Mayor Garcetti is aware of the lure of capital gains and gentrification pressures. – Impressive economic litercy, I wish more politicians could calculate this into their decision making. But will it result in a change in economic policy?

Garcetti says:

“I refuse to say, let’s keep things bad and affordable. Let’s capture what’s good, but let’s make sure we mitigate what is the bad side of gentrification.”

Does that mean he will advocate for a move towards value capture? This would close the loop between publicly funded infrastructure and privatised windfall gains for those in property.

Twitter’s Geek Driven Gentrification of SF.

Buy a book on economic justice!

Sharing California

Collaborative California – a presentation on the peer to peer revolution. by Renegadeeconomists on Mixcloud

Recorded at our Collaborative California event last week, this is a presentation on a three week tour I undertook recently. You will hear the audio to film clips recorded with Neal Gorenflo from Shareable, Espen Sivertsen Type A Printers, Tracey from Fuitvale and Ilya from AirBnb Venice Beach.

Also referenced is the Democratising Land Use event. Check the neat video.

Stay tuned for part two (listen here) as we delve into just how far this sharing economy goes and the tensions evolving. Subscribe to the weekly Renegade Economists radio podcast.

Oakeshott – the danger to democracy

its too obvious to continue

its too obvious to continue

Twitter has erupted over former Independent MP Rob Oakeshott’s clarion call on Radio National’s Big Ideas

“In my time in that three years (2010-2013) when I held a little power, six of Australia’s ten richest people came and knocked on my door. They came looking for me, I didn’t look for them.

They are crawling all over our democracy, and my worry is unless the audience is onto this and starts to respond to it, we are allowing democracy to be privatised.

Reform will not happen in Australia’s interests, it will happen in the interests of a select few.”

- Rob Oakeshott, Independent Member of the House of Representatives for Lyne (2008-2013), on Radio National’s “Big Ideas” 7 August 2014.

Thanks to Bryan Kavanagh for the quote that has summed up the feeling one senses for those following the ICAC hearings, where another two politicians have fallen on their sword. Predictably, the property lobby was lurking in the background.

The key element behind corruption is the pursuit of economic rent, the easy money that owners of natural monopolies can make in their sleep. If government’s choose to leave this naturally rising value on the table for the taking, it will lead to such rent-seeking.

Michael Hudson has been prominent in reminding people of the rentier concept. His Insider’s Economic Dictionary details it as:

Rentier: Someone living on a fixed income, such as the French rentes, government bonds. What Keynes called a “functionless investor” in his recommendation for “euthanasia of the rentier” (General Theory, p. 376 1961 Papermacs edition, MacMillan & Company). Property rents and interest are the two major modern forms of rentier income.

Rentier income: The essence of classical political economy was that no outlay of living or embodied labor is needed to obtain rent and interest. This analysis offended the vested interests, which sponsored a post-classical reaction by applying the maxim, “If the eye offend thee, pluck it out.” The ensuing marginal utility theory ignored the wealth addiction that historically has gone hand in hand with rentiers and the tendency for their compound interest demands to approach infinity.

The great tragedy of the modern era is that politicians have to pawn their policies to pay for advertising on what was once known as the public airwaves. Some countries such as New Zealand limit political advertising on the airwaves to what the public purse covers. However, this still costs the public.

A fairer system would see the government include in all radio & TV licensing the requirement for broadcasters to provide a set percentage of time per political party per election in return for their right to enclose the electromagnetic commons. Read more in the Total Resource Rents of Australia – Harnessing the Power of Monopoly.

Sound sensible? Listen to my weekly podcast – the Renegade Economists – for more.

Until the general public can call politicians to account on their inability to address this deep issue, the world of corruption will continue. Try these 3 terms.

Collaborative California

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Tues August 5th, 6.30 – 8pm
Presenter: Karl Fitzgerald
2/22 Punch Lane, Melbourne

RSVP to assist our planning.

Is California’s booming sharing economy capable of outdoing the economies of scale of big business? Will planned obsolescence be a thing of the past? Karl Fitzgerald has the insights on the good, the bad and the beautiful when it comes to California’s burgeoning collaborative economy.

Share in his findings after 3 weeks in this land of opportunity where he gave five presentations and filmed over a dozen local experts on peer-to-peer and Georgist economics.

Drinks and nibbles to follow, pls RSVP to assist our plans. And share this with your friends.

As a teaser to the tremendous potential unleashing online, please watch this TedX Talk:

Opportunity and Equity