Tuesday, October 14, 2008

the inhumanity of money...

When 3 trillion dollars in wealth suddenly disappears in the course of a week from the New York Stock market (not to mention global markets), one starts to question the whole concept of value and worth. It is stunning to see just how much of the value of the global market is determined by "confidence". 

All of the solutions to this global financial crisis has been to infuse the markets, banks, companies etc. with additional capital, to bailout out companies (i.e. socialize them) with public funds but not to re-evaluate the need for, and our dependence upon this system. What holds real value? People with the means have reportedly been purchasing actual gold bouillon and storing it but in the end what is gold but just another commodity? Another finite resource? How is tangible value created, traded, and stored? Why is onus given to sustainability of corporate entities but not the individuals that comprise them? What value does creativity, art, or ideas have in this context? 

"Art is always and everywhere the secret confession, and at the same time the immortal movement of its time"
~Karl Marx

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