economics: random thoughts

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      what passes for “conservative” economics or “supply side” or “trickle down.” this is only simplified neoliberalism, rebranded by the reagan team who were demonizing anything “liberal.” according to ms thatcher “there is no alternatuve,”

      what the conservatives actually practice, when it suits them, is “public choice economics.” essentially that government is inevitably corrupt and inefficient so only heroic entrepreneurs and etc but i don’t want to let out the spoilers in case you haven’t seen “atlas shrugged.”

      the conservatives hate keynes. to them keynes was wrong about everything and belongs with marx in the dustbin of history. neither marx nor keynes belongs any such place, and of course the conservatives use the definitions and models of keynes general theory whenever thet want to brag about their insipid plans to cut taxes on the wealthy.

      the conservatives are “gold bugs.” trump’s economic advisor wants a gold standard, as does this last economic illiterate he wanted on the federal reserve. consider this : what would the price of gold be if the few billions of gold said to be held in ft knox were backing the trillions of dollars in the economy. would the exchange rate be one gold atom per $?

      have a nice day.

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