Let's Make Money
Encyclopedia
Let’s Make Money is an Austrian documentary
by Erwin Wagenhofer
released in 2008. It is about aspects of the development of the world wide financial system
, focussing on how elitists economically exploit the rest of society, especially in the developing world, but also in western nations.
Writing in the Financial Times
, Christopher Caldwell praised the film's beauty, going on to state that Wagenhofer has a perfect sense for pictorial composition and even for sound. He also writes that film is an imperfect medium for providing an accurate view of complex economic developments. Caldwell goes on to opines that rather than providing a coherent argument, the film "resembles an art film such as Koyaanisqatsi
, Godfrey Reggio's haunting, wordless indictment of the frenzy of modern life".
Documentary film
Documentary films constitute a broad category of nonfictional motion pictures intended to document some aspect of reality, primarily for the purposes of instruction or maintaining a historical record...
by Erwin Wagenhofer
Erwin Wagenhofer
Erwin Wagenhofer is an Austrian author and film director.In 1981 he presented his first short film Endstation normal. Two years later his short film Das Loch was shown at the Krakau film festival. From that year until 1987 he worked as a directing and camera assistant for several ORF productions...
released in 2008. It is about aspects of the development of the world wide financial system
Global financial system
The global financial system is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level...
, focussing on how elitists economically exploit the rest of society, especially in the developing world, but also in western nations.
Synopsis
The film starts by tracking the hypothetical savings of a typical depositor as they move around the global system, often causing exploitation as various financial agents try to produce high returns. There are several interviews with investment managers, politicians, economists as well as homeless people and workers. Some examples:- Mark MobiusMark MobiusDr. Joseph Mark Mobius is a global investor and emerging markets fund manager, and is considered to be one of the leaders in the industry as he has been involved in these markets for over 40 years.-Biography:...
manages funds with a volume of about 12 billion dollars. He invests in Emerging MarketsEmerging marketsEmerging markets are nations with social or business activity in the process of rapid growth and industrialization. Based on data from 2006, there are around 28 emerging markets in the world . The economies of China and India are considered to be the largest...
.
- Mirko KovatsMirko KovatsMirko Kovats is an Austrian investor mainly known for his role as founder, majority owner and chairman of the Austrian Traded Index listed company A-TEC Industries, one of the largest industrial groups in Austria...
is an investor and among the 15 richest Austrians. In the film he inspects an Indian firm.
- Terry Le SueurTerry Le SueurTerry Le Sueur was Chief Minister of Jersey between 2008 and 2011.He was born at Millbrook, Saint Helier, and was educated at De La Salle College, Jersey and Oxford University, where he was the King Charles Exhibitioner at Jesus College; and read physics...
is the finance minister of JerseyJerseyJersey, officially the Bailiwick of Jersey is a British Crown Dependency off the coast of Normandy, France. As well as the island of Jersey itself, the bailiwick includes two groups of small islands that are no longer permanently inhabited, the Minquiers and Écréhous, and the Pierres de Lecq and...
and explains the development of the island from agriculture and tourism to international financial center and tax havenTax havenA tax haven is a state or a country or territory where certain taxes are levied at a low rate or not at all while offering due process, good governance and a low corruption rate....
.
- Hermann ScheerHermann ScheerHermann Scheer was a Social Democrat member of the German Bundestag , President of Eurosolar and General Chairman of the World Council for Renewable Energy...
is member of the German parliament and criticizes the financial system.
- John Perkins is a former Economic Hitman (EHM) and describes US politics in developing countries based on economic interests.
Reception
In a review for the Moving Pictures magazine Ron Holloway writes that Wagenhofer polarizes some of the issues with heavy-handed arguments, but also suggests he's created a provocative documentary containing a wealth of information.Writing in the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
, Christopher Caldwell praised the film's beauty, going on to state that Wagenhofer has a perfect sense for pictorial composition and even for sound. He also writes that film is an imperfect medium for providing an accurate view of complex economic developments. Caldwell goes on to opines that rather than providing a coherent argument, the film "resembles an art film such as Koyaanisqatsi
Koyaanisqatsi
Koyaanisqatsi also known as Koyaanisqatsi: Life Out of Balance, is a 1982 film directed by Godfrey Reggio with music composed by Philip Glass and cinematography by Ron Fricke....
, Godfrey Reggio's haunting, wordless indictment of the frenzy of modern life".
Related literature
- Caspar Dohmen: Let’s Make Money – Was macht die Bank mit unserem Geld? Vlg. orange press, Freiburg 2008, ISBN 978-3-936086-41-6. about global relations between state debt, tax havenTax havenA tax haven is a state or a country or territory where certain taxes are levied at a low rate or not at all while offering due process, good governance and a low corruption rate....
s, speculationSpeculationIn finance, speculation is a financial action that does not promise safety of the initial investment along with the return on the principal sum...
, sweatshopSweatshopSweatshop is a negatively connoted term for any working environment considered to be unacceptably difficult or dangerous. Sweatshop workers often work long hours for very low pay, regardless of laws mandating overtime pay or a minimum wage. Child labour laws may be violated. Sweatshops may have...
s and the subprime crisis