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Rediscovering Minsky's wheel, one pundit at a time | 77 comments (77 topical, editorial, 0 hidden)
Re: But isn't that (4.00 / 2)
My point is partly that finance is supposedly about risk analysis in the same way that job interviews are about finding the best person.

Economics is politics, money and accounting are about power, and banking is part of political planning about who has the power to get things done. How's that?

The conceptual metaphor "money is a thing" (specifically, a gold coin) is particularly damaging in this setting. Politically, fiat money and expansionary fiscal policy means "if you have a worthy project you won't have to stay idle", whereas hard money means "you can only do what I tell you to".

Economics is politics by other means

by Carrie (migeru at eurotrib dot com) on Fri May 13th, 2011 at 06:24:17 AM EST
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Rediscovering Minsky's wheel, one pundit at a time | 77 comments (77 topical, 0 editorial, 0 hidden)
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