By Frank Shostak
Most economists believe that a growing economy needs a growing supply of money. While sounding like a common-sense idea, it turns out to be dreadfully wrong.
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By Frank Shostak
Most economists believe that a growing economy needs a growing supply of money. While sounding like a common-sense idea, it turns out to be dreadfully wrong.
The one time I got robbed on the street, the perpetrator said it was "necessary" so he could bail his brother out of jail or something.
The economists can come up with whatever reason they want for theft being "necessary," but it doesn't matter. They get lumped into the same category as the thieves.
I don't really understand how people can be excited about economics without being excited about consent!
I'm excited about both, but you're right to think many economists aren't.
Most really are interested in people living better lives. They aren't always cognizant of how strongly they're imposing their own preferences on others, though.
Some are just nerds who enjoy studying this stuff.
Well, it does just mean throwing kerosene on an inflationary fire, mathematically...
Good way to put it
bUt WhO will smOoth OVeR coNSuMPtiON DurINg A cRIsIs?
No one, but not just for the obvious reason
Another day, another reminder of why the Fed’s existence is inherently inflationary. The idea that we need a central authority to balance the supply and demand of money is a myth.
Pseudoeconomists, Mises Institute.
This is all giving the socialists far too much credit. They know their policies hurt people. They want your house. They want your car. They want your children. Just to throw all of it into a furnace. They see a painting, and they get mad that they can't paint, so they throw soup on it.
We are never going to get through this if we fail to put evil in its proper place. We can debate them as a foil for better understanding why we're correct. But at the end of the day, Saifedean Ammous is an economist, and Keynesians are something else.