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Yeah, well, Max Planck said that A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it. Similarly, the current generation of leaders will eventually step down from power and later die off. The Long Depression of the late 19th century did come to an end after 23 years. I find no consolation in the knowledge that, sociologically, at some point in the future things will be different from the way they are now if only because all the people currently alive will have passed on.
Keynes also said economists set themselves too easy a task if all they say is that once the storm is passed the sea will be calm again. So I won't call you an optimist, I'll call you an economist :P
If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
I've been called many things, but no one has ever gone so low as to call me an economist...:-)
Index of Frank's Diaries
Unfortunately, at that point the guillotines tend to come out.
Austerity can only be implemented in the shadow of a concentration camp.
reality that does not conform to paradigm can be forced into the paradigm... up to a point.
Daily Kos: "Human are like rats and cockroaches": the coming feudalism
you can't map an infinite plane onto a Euclidean solid.
a grimly fascinating diary and comments over at lucifer's orangerie.
i feel we're caught in a hostage flick, and the takers are about to shoot greece, with the excuse that the food's running out, and we didn't grovel before our masters low enough, or send the ransom of our first-born with sufficient alacrity.
more virgins, stat!
the world gazes in zombie sorrow, paralysed by an ignorance too deep to fathom, and cheap microwaved popcorn.
i'm hoping when they toss greece's body in the trash, there will be a spasm of worldwide revulsion at the epically heartless and inane pretzel logic that puts banker profits above the real 'wealth of nations'.
"We can all be prosperous but we can't all be rich." Ian Welsh
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