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This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

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20

What is the Alternative?

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Blakeley, G. (2019). What is the Alternative?. In Blakeley, G. Stolen: How Finance Destroyed the Economy and Corrupted Our Politics. Repeater Books, pp. 20-23

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Finance-led growth represents the apogee of the logic of capitalism. The owners of capital are able to derive profits without actually producing anything of value. They lend their capital out to other economic actors, who then hand over a portion of their future earnings to financiers, limiting economic growth. The costs of this model are left to future generations in the form of mountains of private debt and unsustainable rates of resource consumption. If the logic of capitalism is based on extraction from people and planet today, then finance-led growth is based on extraction from people and planet today and tomorrow, until the future itself has been stolen.

—p.23 by Grace Blakeley 1 month ago

Finance-led growth represents the apogee of the logic of capitalism. The owners of capital are able to derive profits without actually producing anything of value. They lend their capital out to other economic actors, who then hand over a portion of their future earnings to financiers, limiting economic growth. The costs of this model are left to future generations in the form of mountains of private debt and unsustainable rates of resource consumption. If the logic of capitalism is based on extraction from people and planet today, then finance-led growth is based on extraction from people and planet today and tomorrow, until the future itself has been stolen.

—p.23 by Grace Blakeley 1 month ago