5 ms·
Hell yeah someone who gets it. Maybe you can help me: Greenspan wrote a pretty pro-gold standard paper when he was young. When did he turn into an interest rate
by boppo1 4y ago
Hell yeah someone who gets it. Maybe you can help me: Greenspan wrote a pretty pro-gold standard paper when he was young. When did he turn into an interest rate interventionist? Did he write about it?
Seems like the prevailing theory is that increasing the maximum money supply increases jobs, ala Keynes's buried money jars. But I can never seem to find anyone who addresses the quality of those jobs i.e. impact on the (real wealth)/(money supply) ratio.
- taolegal 4y agoI'm somewhat convinced that Say's Law was the big detour from sensible economic theory. Simply put, production sustains humanity. Without production somewhere there's no consumption. Handing out money fundamentally does not spur production. But also since money is half of every transaction, the scarcity of money & the value of money over time is crucially important to not interfere with.
- deleted 4y ago[deleted]