DAY 2 Report
We talked about
The History of money : how did the monetary system appear and how money is created.
The role of the Central Bank, creator of money, distributing it to commercial banks, making profits on loans and interests.
The system of loan and debt. The virtuality of money at the base of profit-making.
How does inflation work; the creation of debt, the risks that banks can take since they are relying on insurances which are themselves insured.
How does this system redistribute debt to States.
How does the rating of interests and the deficit increase debt in a vicious circle.
We worked on general economics and economics of the body simultaneously by massaging each other while listening to the History of money.
We experimented a system of exchange and the creation of institutions within the space of the Square. Sharing the same space and having to negotiate with each other s desires and using each other for producing and maximizing profit.
Day 1 Report
The current economic crisis is not only a result of some major
failures in speculating practices, but the outbreak of a constant crisis
inherent to the system. Exploitation of the society and the environment
through a reliance on constant growth, the possibility of infinite
creation of money for some through the creation of debt for the
majority, and the binding of most life-procedures to procedures of money
are creating a precarious and dangerous economic climate.
Starting a glossary on Economics
Working on THE SQUARE : a delimited area in the workshop space, where we can experiment and model thoughts around interactions related with art and economy.
It is supervised by a camera which films the situation from above. It looks like a surveillance system ;) but it is not only that.
Jorgos Papadopoulos, Greek Economist, is intervening to clarify notions and concepts.
We spent time defining what means UTILITY and the notion of enjoyment linked to it.
The notion of Apparatus was introduced through a text by Lepecki.
We also mentioned different existing types of economies :
economy of the body
and how they work respectively.
In the arts field, can we talk about a gift economy?