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Steve Keen considers the following as important:
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Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Robert Vienneau writes Another Hayekian Triangle Not Supporting The Austrian School
Joel Eissenberg writes Access to medical care: right or privilege?
NewDealdemocrat writes Production turns more negative
Bill Haskell writes Lawler: Early Read on Existing Home Sales in October
So when have economists ever suggested mandatory accounting/finance in the schools?
creditors have every incentive to expand debt, just as slavers and feudal lords had incentive to expand land and their exploited subjects (the means of production). Money is better than land, it can be infinitely grown. But also the excess of the landed gentry put lords into debt and into crisis. This gave leverage and motivation to enraged peasantry who were exploited thru conscription and taxation (aka rents). population crashes gave serfs leverage to peddle their labor on better terms and created incentives for productivity (plus other things). it all became capitalism. now the rich are back to rent seeking, not profits and own almost everything. varoufakis and others are on the money here.
because creditors existentially need growing demand for money, they do everything to ensure debt grows until its servicing is unmanageable, say when growth fails; then inflation arises from those who can raise prices and austerity from those who cannot.
Are you a Rasta 🤔 just lov’in the text colours…. ire man 🙌