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The FLAW & HOW TO FIX CAPITALISM

November 27th, 2018, 9:41 am

The FLAW & HOW TO FIX CAPITALISM

"The central and comprehensive theme of the book is how the risk-asymmetry resulting from limited liability in joint-stock companies is largely ignored by both economists and policy makers, while it has enormous economic, social, and environmental impacts. In this humorous and highly satirical work, Jorge Cienmentiras offers both a historical guide to the theory and practice of limited liability, stretching from Adam Smith, Keynes, Marx, and Marshall up to the present millennium, as well as setting out the rationale and the recipe for the unavoidable, ultimate, long overdue and only sane economic revolution left; the one that might save the planet we live on."

"With a rare mix of deep insights and the naïve simplicity of a first-time traveler, Jorge Cienmentiras, a native of one of Spains outer regions, tells in his journals about his work at the Norwegian School of Business & Administration as a PhD student and researcher in 2004. In his diaries he presents a unique account of the disruptive, topsy-turvy effects that the risk-skewness associated with limited liability has on both economic theory and economic behaviour. Jorge uses satire as his pencil and the merchant town of Bergen*, Norway and its "irrational citizens" as his sketchpad, to produce a finely drawn picture of an economy where risk-lovers are the winners and conservative policies belong to liberals, while conservatives themselves are mostly busy accumulating and conserving their wealth through liberal economic policies."
 
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katastrofa
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Re: The FLAW & HOW TO FIX CAPITALISM

November 27th, 2018, 11:26 am

Is the author's name really Jorge Lázaro Cienmentiras y Madariaga? Y sí, el capitalismo ya no es para gente.
 
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Re: The FLAW & HOW TO FIX CAPITALISM

November 27th, 2018, 12:06 pm

why should it not be?  "Jorge Lázaro Cienmentiras y Madariaga"  that "y" seems out of place? Amazon typo?  

From inside the book

"Well first of all, you should know that my full name is Jorge Lázaro Cienmentiras y Madariaga, son of Camilo Cienmentiras and Patrica Madariaga Masrshall. I am from Ferrol, a city in the municipality of A Coruna, in Galicia. My father...He once told me I was conceived under the craps table but another time he told me on the top of the roulette table and yet a third time in the Tennis Club."  
so seems nothing wrong with the name, the "y" also there, but yes looks like someone fooled around on the y-axis.

"Norway and its "irrational citizens"" seems quite harsh,  one of the citizens seems quite rational in chess...
 
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bearish
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Re: The FLAW & HOW TO FIX CAPITALISM

November 27th, 2018, 2:26 pm

To quote from the Amazon page peddling the book: “This work is a fiction novel, and is written under a pseudonym. The real author is an economist, financier and entrepeneur. Names, characters, places, and incidents are products of the author’s imagination or are used fictitiously.”
 
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Re: The FLAW & HOW TO FIX CAPITALISM

November 27th, 2018, 3:11 pm

I read that "is a fiction", that is why I thought it was fictitious that it was a pseudonym.
 
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Re: The FLAW & HOW TO FIX CAPITALISM

November 27th, 2018, 10:06 pm

"y" ("and") is fine, but his paternal surname "Cienmentiras" means "hundred lies". Maybe he simply didn't know his father.
 
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Re: The FLAW & HOW TO FIX CAPITALISM

November 27th, 2018, 10:31 pm

"Maybe he simply didn't know his father."

his ? if pseudonyme I would expect a she, men tend to stand behind their name ?

She/he knew her father, but possibly only probabilistically  "My father worked in the Casino Ferralando....this is where he met my mother who was visiting town for a feminist convention..."    

gambling + feminism can lead to unexpected results!
 
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katastrofa
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Re: The FLAW & HOW TO FIX CAPITALISM

November 28th, 2018, 9:42 am

Feminism is just an euphemism to describe women who are too lazy to cook and clean the house.
 
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Re: The FLAW & HOW TO FIX CAPITALISM

November 28th, 2018, 10:29 am

Sorry I know very few women (but yes a few WomenSplaining) and therefore do not have the statistical sample size to know if you are right in your outrageous claims or not. 

The book above despite some fictions characters seems to be quite scientific in most of its claims, so we should also require statistical significance behind discussing claims/comments.
 
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katastrofa
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Re: The FLAW & HOW TO FIX CAPITALISM

November 28th, 2018, 3:56 pm

I'm a sample of one and not relevant to you. I also remember that I edited my post relatively quickly, so no one could have read my claims (based on the image you seemed to intentionally maintain in the past). I apologise if I made you angry, though.
 
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Re: The FLAW & HOW TO FIX CAPITALISM

November 28th, 2018, 8:18 pm

Mrs. you did not make me angry, the world did not Crack !
 
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DavidJN
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Re: The FLAW & HOW TO FIX CAPITALISM

December 4th, 2018, 4:04 am

Limited liability is a fascinating topic. Assuming any private company ever had the wherewithal to sell it (which I totally doubt), what would the premium to buy limited liability insurance? I imagine it would be enormous. This being so, I have always thought that the corporate tax should be fairly high to pay for this valuable put option. 
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