3 ms·
Keynesianism a feedback control loop. Neoliberalism is an open loop. Do you save money for a rainy day or do you spend it like a drunken sailor?
by CalChris 9y ago
Keynesianism a feedback control loop. Neoliberalism is an open loop. Do you save money for a rainy day or do you spend it like a drunken sailor?
- deleted 9y ago[deleted]
- dnautics 9y agoThe assumption is that the feedback control loop is timed correctly. And the second assumption is that the natural system of economics doesn't have it's own feedbacks. If you wire a feedback control loop even slightly wrong you can wind up with positive feedback instead. Moreover the feedback control comes at a cost. What if the cost is "the rich get richer and the poor get poorer"?