by Summary:
Mainstream Economics Ignores Money's Impact.
Topics:
Steve Keen considers the following as important:
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Mainstream Economics Ignores Money's Impact.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| Mainstream Economics Ignores Money's Impact. |
Imagine the next generation of areopace engineers taught to ignore air friction in all cases.
Imagine not telling them about gravity.
Just the same as saying the peasants aren't owed pensions so we ignore that debt.
Why bother to participate.
The learning by doing experience and conversion to symbolic language for communication is the Physicists' Measurement Problem situation of inherent uncertainty of Singularity-point positioning Conception Perspective Principle in the No-thing-defined Aether, which said another way, is Eternity-now Interval, and the more valuable that symbolic representation of significance, the less explanation is required, except that is the half-truth, ..a reverse-inverted mono-dualistic fact of Mathemagical Thought Experimentalist's practical Intuition.
Still ignoring the socialist pension debts.
What about Monetarism?
Monetarism, despite its name, actually claims that money doesn't matter for the "real" economy–ie that monetary factors don't affect the level or rate of change of economic activity–all it affects, in their theory, is the rate of inflation. This is fundamentally ignorant of the actual role of money in a capitalist economy.