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ThatBritGuy:
The fact that we're having a plausible discussion about China lending money to the US and/or EU suggests that unofficially, the Yuan is now the world's reserve currency and that China is the lender or last resort.
The world's exporter of last resort ultimately holds the levers of the global monetary system. I guess I'm going to become a mercantilist if the current economic state of affairs persists for long enough.

And then a physiocrat, I suppose...

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Migeru (migeru at eurotrib dot com) on Wed Jul 21st, 2010 at 05:41:50 AM EST
[ Parent ]
And then a physiocrat, I suppose...

interesting... diary?

~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~

by melo (melometa4(at)gmail.com) on Mon Jul 26th, 2010 at 11:26:02 AM EST
[ Parent ]
I was just joking about ideologically "progressing" backwards to the 18th century...

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Mon Jul 26th, 2010 at 11:37:37 AM EST
[ Parent ]
not all old ideas are crazy... in my brief foray into understanding the phenomenon, there's a resonance with Chris Cook's economic philosophy, in the trust in land being the ultimate (non-fungible, and energy the fungible?) value criterion.

 

~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~

by melo (melometa4(at)gmail.com) on Mon Jul 26th, 2010 at 12:12:34 PM EST
[ Parent ]
One of the things the physiocrats are remembered for is Quesnay's tableaux économiques which foreshadows Leontieff's input/output model and the modern "flow-of-funds" framework for macroeconomics analysis (see a mention of such models here).

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Mon Jul 26th, 2010 at 12:19:19 PM EST
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