Notes
1. Brumback, GB. Economic Sanity and Alternative Economic Systems: Part 1. Introduction to the Series. OpEdNews, May 16; Dissident Voice, May 17; 2018.
2. Younkin, EW. Aristotle and Economics. quebecoislibre.org, September 15, 2005 paper number 158.
3. Smith, A. The Wealth of Nations. 1776.
4. See, e.g., my books, The Devil's Marriage: Break Up the Corpocracy or Leave it in the Lurch; and Corporate Reckoning Ahead.
5. Smith, A. Op. Cit., p. 638.
6. See, e.g., Josephson, M. Teaching Ethical Decision Making and Principled Reasoning. Ethics: Easier Said than Done. 1988, 1, pp. 27-33.
7. Williams, AW. The Legacy of Karl Marx: Or, the Inheritance We Dare Not Squander. A talk presented at a symposium marking the one-hundredth anniversary of Marx's death, Oregon State University. 1983.
8. Brumback, GB. America's Oldest Professions: Warring and Spying, 2015, p. 117.
Part 4.
Fringe Economy
Fringe, adj. not part of the mainstream; unconventional, peripheral. When this definition is applied to the economy it becomes the title of a book, "Short Changed: Life and Debt in the Fringe Economy," written by Howard Karger, who at the time was a professor of social policy. 1 Part 4 is a review of that book.
Do you have any idea what the "historical neighborhood banker" is? I didn't until I read his book. It's the pawnshop says Karger. Most likely not in your neighborhood, though. Indebted people have been pawning their belongings as long ago as 1000 BC. If your image of today's American pawnshop is of a storefront operation owned and operated by a shady character, you'll be as surprised as I was to learn that many of those storefronts have been gobbled up by five publicly traded corporations (e.g., EZ Pawn) raking in 100's of millions of dollars yearly from pawnshop loans and with boards of directors lavishly paying their CEOs. Even the shrinking population of go-it-alone pawn shop brokers gets loans to set up their operations from big banks. Well, why not? No banksters worthy of the name will miss out on grabbing other people's money.
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