Why I am a Keynes fan even though there are people who do regressions
Public infrastructure, democratization of education, welfare convergence, its all presented as if it was not deliberate and part of a hypothetical cycle.
If you really think Keynes was a bad good economist, maybe because he did not account for libertarian or maximum individual agency. You discount how much you use public goods.
The tragedy of the commons is not that there are commons, there have always been commons. The tragedy is a lack of cooperation to keep the commons in good shape beyond short term individual interest.
Rockefeller, innovated externalities away and cannot be compared to wolf of wall street hostile takeover, losers*.
Rockefeller although he did professionalize the petro-industry probably cooked his books. As far as robber barons go he is an inspiration. Oil at the time was a get quick rich scheme. Lots of distillation of useful compounds was done artisinally. People for instance made petro-chemical crackers in oil drums without a lot of regard for pollution or long term effects.
Henry Ford is best know for using innovation at scale and increasing the average wage in the great lakes region, and indeed preceded Keynes. This does not discount Keynes stature in my opinion.
The Dutch Disease often used as an example to why keynsian thinking is outdated. Is not an inflation problem in essence, or unemployment issue. It is a terms of trade problem where your economy allocates assets in a non constructive way in global terms.
In other words a comparative problem where the effects your public spending have on the countries global competitiveness and local spending. Yes you can in the short run use extra investment in your economy to boost local or regional production.
But this is remarkably different from what Keynes and Roosevelt pulled of. Thier spending even if you dont agree resulted in the post war boom. Both in Europe (bs article we promised the cooperation in the rebuilding of the country, not what happened ask Daewoo) and the United States.
case: They want to have a top 1 supercomputer but do not know what their going to run on it. Sorry not Sorry but the matrix or simulation joke was shrooms
Side note: I was and still am an anti realist, what could be true is that there is an energy outside of our universe and that our universe wobbles, you will never find out .
This is the shit Rudy Lebbers (longest sitting Dutch Prime minister until Mr. Weekamp) cleaned Dries van Achts mistakes, the Phillips curve (graph) definitely came true. See what happened after bretton woods, where privete equity started thinking controlling enough boards is the way to add value in your portfolio.
It is true once you have inflation that is not raising productivity structurally and resulting in good investment. Inflation can be a destructive force beyond repair beside default. Wiping out all past savings, see Zimbabwe, see Argentine, etc..
GDP for instance beside being a reserve currency ploy, does not distinguish between good and bad assets being sold at a profit.
Latvian/Estonian emigre Isaiah Berlin the son of a lumber mill owner either is not read enough, or wrongly assumed to have brought forward a dichotomous concept of freedom.
His as far as I know most famous contribution on freedom or agency is that actions both have a positive individual effect and(not a trade) an effect on the broader society which he termed negative freedom (on others).
I never liked game theory, but whats seminal about the Nash equilibrium (who gives a fuck how quick you can calculate the quasi welfare) is that its a best case scenario for all agents.
I could now turn to decisions tree’s but good night and if you really think the Chicago school is the root of all evil. Do not go to a supermarket, dont trade barter dont try to get a good price, be intellectually honest. Farmers are price takers not monopoly rent cartels.