A Quote by Arundhati Bhattacharya
If you look at the international markets, for projects that are capital-intensive, the minute the construction phase is completed and production is supposed to start, normally all these loans get refinanced.
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Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and capital work suggests the lines along which we could develop economic institutions capable of dealing with increasingly capital-intensive production, as our present institutions cannot.
Capital, never concerned with distribution, is now less and less concerned with production. Capital is driving for power, for the control over markets, lands, resources. Capital, in corporate hands, can move anywhere and thus demand and get the utmost in concessions and privileges as well as the freedom to operate in the interest of ever-increasing wealth and assets.
The truth is, anyone can start projects. The world is full of just-started projects that looked great at the time but were never completed.
Normally, if someone goes bankrupt, you wipe out the debt and get a fresh start. But that's not permitted with student loans. So the effect is to impoverish many graduates with very high debts.
Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.
I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.
In the early 1990s, when a lot of the developing world opened up to international capital flows... they ended up in very good long-term projects, but projects that weren't going to pay off for five or 10 or 20 years.
I shall argue that it is the capital stock from which we derive satisfaction, not from the additions to it (production) or the subtractions from it (consumption): that consumption, far from being a desideratum, is a deplorable property of the capital stock which necessitates the equally deplorable activity of production: and that the objective of economic policy should not be to maximize consumption or production, but rather to minimize it, i.e. to enable us to maintain our capital stock with as little consumption or production as possible.
Normally, banks record profits on loans only as they are repaid, whether they securitize the loans or hold them on their books.
Normally I start with a plot, and write a synopsis, and the ideas come from the construction.
Development is the first phase. People write a script, you get concept art. You get to a point where you get a green light, which is basically a production company saying they're going to put the money up to make the movie. Then you go into production.
Sustainable production and consumption matter immensely to the people I meet every day as head of the International Trade Centre, which works with small and medium-sized enterprises (SMEs) to help them boost growth and job creation by improving their competitiveness and connecting to international markets.
When the financial system works as it should, money and capital flow to and from households and businesses to pay for home loans, school loans, and investments to create jobs.
Markets are a social construction, they're made from institutions. We in a democratic society create markets, we constitute markets, we bring them into existence, and we shouldn't turn markets over to a narrow group of people who regulate them and run them in their interests, rather they should be run democratically for the common good.
Having more customers means nothing if America's small businesses cannot obtain the required capital to support their exports in the competitive international markets.
Capital movements are no longer necessarily related to the production of goods and services. Through the financial markets of the world, capital movements today are overwhelmingly concerned with the capture of and trade in property rights, the ownership of assets that magnify a corporation's wealth, power, and control. It is what John Maynard Keynes described as "a casino world"-wealth without worth.
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