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Steve Keen considers the following as important:
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Topics:
Steve Keen considers the following as important:
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Mike Norman writes Class
Mike Norman writes Episode 8 (S2) of the Smith Family Manga is now available — Bill Mitchell
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Sounds like economics is suffering from a lack of deep insights from money. Anthropology found economics to be wrong on money originating from barter. Economics puts 0 price on liquidity, even though liquidity crisis do occur. Monetary values are our main source of economic information and yet somehow Economics wants to abstract away from that some unobservable unit like utils. After all thats done, it does some extra mental gymnastics to say that the money in your wallet is an illusion but unobservable utils are somehow "real".