Comments on: Jacques Rueff Warned of the Faith Based Dollar Economy

By: Me

Me — Tue, 12 Aug 2008 10:17:38 +0000

If I may also comment Charles, it is seriously debatable whether "maintaining society" is really the same thing as maintaining full employment no matter the cost. There are other methods of helping those displaced by changes in economic circumstances so that "society is maintained" that do not involved inflationary money deception. It's just that they aren't political solutions, they are human and community level ones that cannot be centrally controlled. Do not ignore the fact that BB is just as flabbergasted at the way lower and middle class real wages have at best gone no-where in such a long time, even as we have also seen such huge improvements in IT, electronics, communications, etc as anyone. Such a thing would not occur in a capitalist economy that was resting on sound money.

By: fungusfitzJuggler

fungusfitzJuggler — Tue, 12 Aug 2008 02:23:45 +0000

Beliefs have no place in the real world.
BB is many things, but he is not a believer! Capital begets wealth for some work for many and leisure for most of us. There is no society without deferred pleasures. Capital is deferred spending and is a tax upon cupidity. Those who cannot defer are obliged to labour more than those who can. How much are they to be exploited?

What we choose to do with capital is another story! Should their crops be destroyed to force them into factories?

By: charles

charles — Tue, 12 Aug 2008 01:08:47 +0000

It would seem that you have a belief that it is more important to maintain the value of the capital accumulated by the capitalist than to maintain society. When it comes to economics I think the most insightful articles I have read are here.

By: Pete

Pete — Mon, 11 Aug 2008 07:24:49 +0000

I like these history lessons, thanks Bill <-- not sarcasm