The Transformation of the Global Economic Model from “Exogenous” to “Endogenous”

0

Modern production systems have distorted their primary function, which is to provide the economic goods necessary for the subsistence and development of the human species. In all contexts, ancient and modern, economic activities refer to the work organized by man for the production of goods of specific utility, resulting from a particular ability to satisfy existential needs of different intensity and quality. The economy is therefore “endogenous” to society and human life.

But the predominance of certain groups of individuals has transformed the production system into a “exogenous” type system, i.e. substantially foreign to the original purposes and oriented towards the production of profit for the sole benefit of the capitalist class, while the workers’ class is forced to experience chronic levels of unemployment and income below the vital economic minimum.

This undesirable and perverse characterization of the modern economy is supported by what is known as the “monetary seigniorage”, which, due to malicious policies, is based on the renunciation of the State’s power to mint money and transfer it into the hands of private banking organizations under the control of large financial capital. This brings us to the current paradox in which nations must incur debt, bearing the cost in terms of interest, towards bankers to make it possible for the circulation of “public good” money to circulate.

Literature is essentially complicit and conniving with the current power system, and in fact, the model of global economic development is based on the process of capital accumulation, relegating the employed labour force to a variable “dependence” on the technological factor and the level of capitalist profits. It follows that development is motivated by an increase in labour productivity, which, in principle, is not accompanied by an increase in wages but rather by a permanent state of insufficient labour demand.

The working classes (the real producers) are therefore stripped of the product of their work and left in a permanent state of poverty.

Keywords: race survival; economic labour; monetary seigniorage; “exogeneity” of capital; “endogeneity” of labour; price; wages; profits; distribution of wealth.

This publication is available in Italian only.

About Author

First a researcher and then professor of finance and banking in several Italian universities. Manager of various credit institutions and financial companies. He is currently studying and researching between Israel and Europe.

Leave A Reply