’ with the physicality, or physical properties, of
goods and social objects. It then contrasts this physicality with a ‘something
else’ – meanings, signs, culture, desires, identities, services, information or
knowledge. These are then regarded, firstly, as non-physical (hence having
quite different kinds of social properties); secondly, as additive (a later accretion or layering of physical reality); and, finally, as historical (things have
become more immaterial, or immaterial things have become more socioeconomically central today).
The argument proposed in this
insolvency contagions (since the Asian contagion wreaked havoc on
solid borrowers). It is not clear how the IMF would determine limits on
how much could be loaned, or what the appropriate insurance fee would be.
Soros has yet to provide more speciﬁcs for his global central bank (although
he does not use the term). As it stands now, Soros’s idea of an international
public insurance corporation seems to be a non-starter.
Claiming that the IMF and the World Bank have become “increasingly duplicative,” James Burnham (1999) calls for the merger of the two