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Oh, so that’s from him. This is the most state-interventionist economist. The fact that state actors trusted him for their policy since 1929 has more to do with
by eastbound 11mo ago
Oh, so that’s from him. This is the most state-interventionist economist. The fact that state actors trusted him for their policy since 1929 has more to do with a convergence of interests than rationality.
I’m not surprised that he started the ideology that markets were irrational.
- senordevnyc 11mo agoHere’s a similar quote from the great enemy of markets, Benjamin Graham: “In the short run, the market is a voting machine but in the long run, it is a weighing machine.”