I felt just like I was back in the basement of the Fleming Museum listening to this lecture. Josh, I couldn't agree more with your theories, perhaps because they helped shape my own. Things have changed a lot since 2004, but I was always struck by the foresight of my CDAE professors regarding both the economic and political situation.
Josh, I was so proud of you for a minute there with your understanding of monetary policy until you fell victim to the "problem of interest" fallacy. Yes, interest requires new money to pay it back, but since the loan is not owed back in one payment, they can be paid back by a steady FLOW of bank credit without requiring that the total level of debt increase.
I think Milton Friedman is a big cause of why the economy is so screwed up now. He preached that corporations and the rich have no social responsibility. he preached deregulation. His views lead to improper use of natural resources. I cannot understand why he is one of your favorite economists. I liked you as an economist until you said that.
I think Milton Friedman is a big cause of why the economy is so screwed up now. He preached that corporations and the rich have no social responsibility. he preached deregulation. His views lead to improper use of natural resources. I cannot understand why he is one of your favorite economists. I liked you as an economist until you said that.
I felt just like I was back in the basement of the Fleming Museum listening to this lecture. Josh, I couldn't agree more with your theories, perhaps because they helped shape my own. Things have changed a lot since 2004, but I was always struck by the foresight of my CDAE professors regarding both the economic and political situation.
lizteuber 5 months ago
Josh, I was so proud of you for a minute there with your understanding of monetary policy until you fell victim to the "problem of interest" fallacy. Yes, interest requires new money to pay it back, but since the loan is not owed back in one payment, they can be paid back by a steady FLOW of bank credit without requiring that the total level of debt increase.
silversoul7 5 months ago
I think Milton Friedman is a big cause of why the economy is so screwed up now. He preached that corporations and the rich have no social responsibility. he preached deregulation. His views lead to improper use of natural resources. I cannot understand why he is one of your favorite economists. I liked you as an economist until you said that.
polvotierno 5 months ago
I think Milton Friedman is a big cause of why the economy is so screwed up now. He preached that corporations and the rich have no social responsibility. he preached deregulation. His views lead to improper use of natural resources. I cannot understand why he is one of your favorite economists. I liked you as an economist until you said that.
polvotierno 5 months ago