www.hellbank.com offers the thesis that:
- the properties of net art are related to ideas that 19th century subjectivist Austrian School economic theoreticians had about the nature of process and the exchange of information
- in its conviction that the pre-determinant of all economic activity is the exchange of information, Austrian School’s subjectivist economic theory effects an aestheticisation of economic exchange through the denomination of media of exchange.
- these ideas influenced the development of information technology, and that they have culminated in a theory of globalisation which is supported by its own, ubiquitous technology of globalisation.
- these technologies act to reduce transaction costs, and that this has been successfully achieved by the implementation of information technologies, particularly the net.
- cultural constructs, "the way we do things at our place”, often involve a strategic construction, management, and appointment, or shifting of the burden of transaction costs.
- there is conflict between the cultural construction of transaction costs, and the
commercial need to reduce transaction costs.
This exegesis of hellbank.com explores this thesis by
- Describing my own personal predicament of identity, and placing it within a theoretical context
- Describing the endogenously derived realism of Austrian School economic theory, within the context of a critique of liberalism, written in the 1930s from a position of exogenously derived realism, by the Nazi, Carl Schmitt, one of the few
twentieth century theoreticians of national sovereignty.
- Describing the theoretical context in which the polymath John von Neumann designed the von Neumann architecture
- Giving an example of the cultural construction of transaction costs, and their implications in gift giving.
