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That's great about what Keynesian economics says to do. But there haven't been controlled experiments in which thousands of different countries ran economies wi
by temphn 14y ago
That's great about what Keynesian economics says to do. But there haven't been controlled experiments in which thousands of different countries ran economies with different characteristics and parameters. With virtual economies and digital currencies, followed by seasteading, we can finally get that. And something tells me "Keynesianism" (which primarily serves as a bastardized justification for slow wealth seizures via inflation and fast wealth seizures like Cyprus) won't be doing so well when the numbers are toted up.
- Locke1689 14y agoThis will never happen. The combinatorics blow up exponentially. Besides, your comment basically says that you don't have data to support your position, but you have a hunch, so we should just trust you on this.
- temphn 14y agoI do have data to support my position. North Korea vs. South Korea, East Germany vs. West Germany, Maoist China vs. Taiwan/HK/Singapore. Leftism produces poverty, capitalism produces wealth. Communism doesn't work. That's a macro result you can hang your hat on. Millions died, one would hope the point is proved. Now today the question is whether the "mixed economy" which allows unlimited state intervention (which does indeed lead to Cyprus) is better than fettered government and unfettered capitalism. We're going to find out.
- jbooth 14y agoYou're being ridiculous. Keynes was not advocating for the modern North Korean State, or any form of communism for that matter. Please don't destroy discussions.
- notahacker 14y agoThe Cypriot wealth seizure (attempting to cut a budget deficit in recession with a very destructive tax because they'd already ceded control over monetary expansion to an entity that isn't interested in doing it) is just about the polar opposite of Keynesianism ... As for seasteading, there have been plenty of experiments testing the theory that a tiny nation can become very rich from being a laxly-regulated, tax-free place for rich foreigners to park money. It works very well until you try to generalise the results to larger economies and end up like a certain Mediterranean tax haven with a non-state currency... The trouble with dismissing the knowledge accumulated by those whose experiments failed is the risk of being condemned to repeat them...