Time's Fool

Economic Epicycles (from 6/10) The shift from national industrial economies to a global financial economy signals a shift (or an order-of-magnitude increase) into a "Ptolomaic epicycles" model of large-scale economic activity. The free-market model of the economy has become, with the shift from local price discovery focused markets rooted in the dual economic functions of allocating production and distribution activities on the primary or sole basis of "real" population needs to international speculative profit-oriented markets which tend consciously to ignore those base functions of economies in favor of pure profit, an effectively "religious" or "free market faith-based" model. The excessive complication of "financial product" creation, such as swaps and other derivatives, greatly resembles the construction of Ptolomaic epicycles to adjust the coherence of increasing astronomical observations to fit the heliocentric model of the astro