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Of course it's "distorting the market" - the purpose of the market is to return as large a return as quickly as possible.

Strategic planning is for losers and third world countries.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon May 23rd, 2011 at 07:00:13 AM EST
[ Parent ]
Amusingly, headline inflation at 3% leads to howls from the ECB about "second round effects" (i.e., wage demands which would then lead to a mythical wage-price spiral). However, 20% requires rates of return on capital up from 12% 20 years ago is supposed to have no inflation effects.

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Mon May 23rd, 2011 at 07:06:53 AM EST
[ Parent ]
The demand for profit/rent 'causes' inflation by definition and accounting identity.

"The future is already here -- it's just not very evenly distributed" William Gibson
by ChrisCook (cojockathotmaildotcom) on Mon May 23rd, 2011 at 07:13:59 AM EST
[ Parent ]
You're too unserious, even for Krugman's taste.

But we already knew that.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Mon May 23rd, 2011 at 07:16:32 AM EST
[ Parent ]
Was it Minsky who replied, when asked when the next great depression would likely occur, something to the effect of "Fifty or so years after the last prominent person who has a living memory of our times has died"? or was that the great man himself?

"In such an environment it is not surprising that the ills of technology should seem curable only through the application of more technology..." John W Aldridge
by proximity1 on Mon May 23rd, 2011 at 07:29:43 AM EST
[ Parent ]
Might have been JK Galbraith, too.

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Mon May 23rd, 2011 at 08:34:01 AM EST
[ Parent ]

  You know, now that you  mentioned it, I think that it was J.K. Galbraith, yes.  Thanks for the reminder.

"In such an environment it is not surprising that the ills of technology should seem curable only through the application of more technology..." John W Aldridge
by proximity1 on Mon May 23rd, 2011 at 08:48:25 AM EST
[ Parent ]
Galbraith is the one who emphasised that memory is more useful than financial regulation, in the preface of The Great Crash, 1929.

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Mon May 23rd, 2011 at 08:56:07 AM EST
[ Parent ]
Reading this diary makes me think it's one of the best (top 50) in the history of blogging in the history of the world in the history of the known universe.
by Upstate NY on Mon May 23rd, 2011 at 10:43:13 AM EST
[ Parent ]
"Our times" would have been the Great Depression?

Then it might have been Keynes.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Mon May 23rd, 2011 at 08:42:55 AM EST
[ Parent ]

   "Our times" would have been the Great Depression?"

           Yes.

"In such an environment it is not surprising that the ills of technology should seem curable only through the application of more technology..." John W Aldridge

by proximity1 on Mon May 23rd, 2011 at 08:49:34 AM EST
[ Parent ]

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