Monday, Jan 19, 2009
Manyard Keynes Aint the Answer....
The Renegade Economist: Casino Capitalism
Harrison's latest offering....
Posted by neo-serf @ 09:55 AM (604 views) Add Comment
8 Comments
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1. Crunchy said...
From the man who kept on warning Brown, but was ignored.
Why? Bush and OTHER RAMPERS?
2. stillthinking said...
Nice clip of Brown at the Labour conference denying boom bust, so recent as well.
3. quiet guy said...
Nice post neo-serf.
Yesterday, I recall reading on the blog that property prices alone could not account for the scale of the banking losses because the bank have so many loans to foreigners but Harrison appears to be saying that land speculation is the main problem after all.
4. bellwether said...
yeah every increasing land prices (and therefore rents) mean that increasing amounts of wealth becomes sterlised and unavailable for productive use
5. plato said...
Also watch :
Good stuff.....
6. Crunchy said...
THE TIDE IS TURNING? Don't bank on it.
Old habbits die hard.
7. techieman said...
Actually should all things be equal and we dont have a LVT i disagree. JMK is the answer he just aint the answer now. The problem is once everyone has the wherewithall to buy a DFS sofa on tick for 5 year with no interest in the first year then getting them to balance the books when this debt starts to be repaid is not gonna work.
In other words once you start inflating debt and not paying it back and that becomes the norm then when things change its a (to put it politely) a hell of a nasty shock. Keynes therory might work but not yet - now as i said before its throwing good money after bad.
The problem i am alluding to (badly) is once you have an economy providing illusory wealth predicated on increasing (public) borrowing, and you dont pay it or enough of it back in the good times (as JMK advocated) - you aint able to sustain things during the bad times and use that war chest to help you out.
As for the rest of the video personally i would use that video of brown talking b0ll0cks if i were a conservative. Shafted by his own rhetoric!
8. Dbc Reed said...
The guy Keynes admired so much, Silvio Gesell (see The General Theory...) realised if you increased the money supply ,land and property prices would go up.Keynes could n't get it ,at all.