http://www.safehaven.com/article/32330/ ... -in-silver
perched water
http://deflationland.blogspot.be/
Deeper water than the eyes of youth.
http://www.americanprogress.org/issues/ ... n-and-now/
https://duckduckgo.com/?t=ous&q=fabianism
using a cautious strategy of delay and avoidance - theory advocating state ownership of industry - established by gradual reforms within the law -
i.e. walking in circles
http://donny-allen.us/2012/10/23/ill-ni ... b-johnson/
http://donny-allen.us/2012/10/23/democr ... l-clinton/
Alfred Marshall would shake his head in utter disbelief at this point in time.
There is no modern man other than the level of acepted avarice and by there fruit they shall be known.
As T noted some time back as we know here the problem is not what Keynes wrote, but how it has been perverted (sic) for expropriation or pork politics.
Keynes in his original thesis suggested that Government should be only THE LAST RESORT, and that persistent use of Tax conduits to warp Demand will lead to economic scarring in both industries dependant on Government largesse to cover their own structural deficits & malinvestment for ego projects vs. real-return IRR. You can crank out all the goods in the world, even invent a damn Fusion reactor but it won't mean shit if people lack the knowledge and purchasing power to actually use the damn thing. He even sourced 'new energy projects' in his lectures as a case study in where plowing gobs of capital will permanently screw up both the consumption habits of people and how they view Government. Go figure (How's the Ethanol subsidies working out for MENA food inflation and gasolines prices these days ?
During those periods of growth, and when G should not be needed the G should be kept to a minimum in the GNP (GDP didn't exist yet) and I & S should be the key drivers for L's consumption. If G does anything it's only role should be as a kick starter, with immediate repayment for projects where there is zero immediate economic revenues, such as National Railroads / Infrastructure vs. Regional cartels and more importantly building a war chest of Funds or SWF for when shit hits the fan. IMF and by extension World Bank is exactly this, a policy instrument to be only used for when countries are on the Occam razor of nationalist redistribution or blowout debts due to rampant government ego building.
That last sentence did not sit well with Keynesians public policy schools which did not like the whole aspect that their mighty policy wonk work must sit on the shelf for 90% of business cycles. So they just assumed that the market is in constant economic turmoil, and government must be constantly in a state of intervention. Thus giving them relevance & so, the cottage industry of Keynesians schools was born post-1940.
And so, here we are since the first republicans here noted kaisers social security program makes better soldiers since ceasar got his from under the bridges thus coming back to cross the rubicon as Americans walk in circles with liberty unable to be defined but by few. Meanwhile the steam engine and countless labor saving devices made another sticky wage pool obsolete.
As we noted before the cool aid from the source: asymmetric paternalism, states that paternalism should be invited if it bestows large benefits on those who make errors in judgment while imposing little or no harm upon those who are fully rational. While some may argue that this benefit to shortsighted consumers comes at the expense of retailers, it can be posited that correcting these errors in judgment enhances economic efficiency to the benefit of both parties involved. Given that achieving such change is a difficult process, it is helpful to understand the dynamics of an individual’s desires and the strategies that can effectively control them, AEA Papers and Proceedings, May 2003.
And so, the Austrians reflect the corruption of the regulatory bodies does not shake his blind confidence in the infallibility and perfection of the state; it merely fills him with moral aversion to entrepreneurs and capitalists. No one should expect that any logical argument or any experience could ever shake the almost religious fervour of those who believe in salvation through spending and credit expansion. The final outcome of the credit expansion is general impoverishment. By short-circuiting the price mechanism and forcing people into economic lives contrary to their own chosing, central planning destroys the capital base and creates economic randomness that eventually ends in killing prosperity.
Not hard to see with our own eyes as we noted before why it was tested for a mercury content from the asymmetric paternalism cults
so no standard can be uttered.
“It’s ironic that the people who need health coverage the most and can least afford it are the ones who will be totally left out in the cold,” Ron Pollack, the executive director of Families USA, the national organization for health care consumers, told The Fiscal Times last fall.
No they found a way not to pull teeth and appear respectable.
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