Monetarists say that the relationship between macbeth

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English verse, he declared enthusiastically, was able to say everything. He quoted Macbeth's words on seeing the ghost of Banquo and asked: 'What verse, with Juliet on their first meeting is a means of revealing a marriage of true minds. Othello uses jewel imagery; Iago, like the enterprising monetarist he is, has. “Risk, Return and Equilibrium: Empirical Tests” with James MacBeth [25] stands out. . (I do not mean to slight the contributions of others, as I do not mean to slight the .. efficiency is typically expressed as a ratio of inputs and outputs. .. policy blog; Steve Williamson A lot more than "new monetarism.". In making a case for globalisation, say, it is possible to reach back to Smith to ( the odd mention in the context of monetarism in the s and s), who is quoted of the day, including the dagger wielded by an invisible hand in Macbeth.

How much anti trades union legislation has been overturned in Britain or America or anywhere in the Saxon Axis? To what extent have the basic rights of ordinary people been restored or improved over the past decades? The legislated landscape is massively changed from only a couple of decades ago.

Here at least we are on solid ground. These are fixed principle driven rules beyond which no elected official can go. But any fixed set of rules will inevitably be challenged by circumstance. In the centuries since the Constitution was created the identities and values of the men who wrote it have become increasingly marginalised.

This change is expressed positively in the many amendments to the constitution and negatively in the effective abandonment of the basic principles that guided the constitution. Contemporary America is not the country the Constitution was written for. The details of any western system are irrelevant. The real point is: When it comes down to it, in a modern democracy there is no penalty for governing badly, and there cannot be, or else it is no longer democracy as we have understood the term.

We can call this the Democratic Lower Bound. It operates like the interest rate lower bound. It is the structural limit beyond which the system as it is presently constituted cannot go. The penalty for incompetence malevolence is that you are voted out next time around, maybewith a nice pension of course. But you and the organisation you represent are free to carry on doing what you did.

From Vietnam through financialisation and on into Iraq, no elected official has ever got into any serious trouble no matter how terrible the crimes they committed at home or abroad. Nor will they ever. Nor can they be allowed to. Democracy offers the same protection to its politicians that the marketplace affords to investors in corporations — limited liability Nevertheless even this unfortunate state of affairs is not necessarily fatal to the reasonable functioning of the system- if the political class exercises a certain amount of self control.

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If an elite has a sense of national self preservation the modern democratic system can still work reasonably well. But in the light of international treaties such as TTP and the European trade agreement we can say that adding Globalisation to the democratic lower bound brings what is the fatal weakness in the system to the fore. Legislatures across the developed world are entering into permanent agreements that are deliberately engineered to be beyond the scope of national parliaments.

The effect is of smuggling the economic and political wealth of the nation state out one piece at a time. Transnational elites are clandestinely stripping the nation state bare. And there is no effective legal response built into the system for this. Once sovereign treaties are signed there is no legal way to unilaterally repudiate them. The Greek people are finding this out to their cost.

I have argued in previous pieces that Monetarism is the end of economics and the consequent emergence of cultural constituencies. This means one culturally self defined group ruling over another, or number of others.

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It is becoming increasingly apparent that political elites across the developed world are themselves constituted as a separate cultural constituency.

Whoever you vote for, Globalists get in. Given the democracy limitations that I outlined above those who lose out on the new electoral deals can have no effective recourse other than separation, which is coming to mean the carve-up of national territories between the people and the politicians. So the rise of Monetarism and cultural constituencies necessarily means every nation state will in the end become a failed state.

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A capital city ruled by a Globalist cultural constituency surrounded by a hinterland one or more cultural constituencies of outsiders. Relatedly, modern productions have a choice about how to treat soliloquy, whether the actor is talking to an acknowledged audience or to herself.

Over and over again in this production, just as emotion rises, the torrent and tempest is stilled, and we listen to the formal recitation of verse. Two examples that I found particularly striking: I felt like I was watching a Hamlet soliloquy. How do you say that you cannot speak? Do you wail through the lines? Scott Wentworth has played the part of Capulet before, magnificently, and he cuts a commanding figure in this production over and over again — in his negotiations with Paris, in his furious confrontation with his daughter, in his rebuke to Tybalt for refusing to be ruled by him when Romeo is spied at the feast, etc.

Where the actors hew to a rigid program in their speaking of the verse, in their bodies they are free to improvise. Which brings me to my biggest blocking question of the night: Juliet is at the end of a train of dancing men and women, heading off-stage. Romeo grabs her hand — she pulls away — and dances off. And then comes back. And then we go into the sonnet. I struggled to understand that choice. But Juliet has never seen this man before, nor, in this fleeting passage, can she have had the chance even to catch a glimpse of his features.

And yet she comes back, as though one touch of the hand were enough to kindle love. There was a formality to the scene that struck me, again, as cutting very much against the emotional rush of love. There are many fine things in this production. Moreover, there are times when the strong stress on line endings reveals hitherto hidden readings in the text; enjambment is a classic instrument for irony, after all.