Re: Austrian & Keynesian Theories Vs. Mathematical Facts
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The first sentence in your correct reply is at the very core of our monetary problems, and I believe the place to start if we want reform.
Who are the other 11 economists?
Steve Keen’s interpretation of Say’s law was debated in depth in the mises.org forum and Minsky too. But that ‘s another subject . You can follow their debates there if you’re interested.
In another unrelated subject, Do you happen to know who said:
“Fools! Not to see that what they madly desire would be a calamity to them as no hands but their own could bring”
Here is a list of the 12 economists – http://www.debtdeflation.com/blogs/2010/04/03/vote-for-revere-award/
I went to this thread on the mises forum… it seems like most of the people on there don’t understand how our debt-based money system works. Debt can grow exponentially faster than the productive capacity of the economy to support the debt, and that’s exactly what has happened.
I have no idea who said that quote, but that’s basically how I feel about the materialistic consumer culture in advanced capitalist countries.