tag:blogger.com,1999:blog-2761684730989137546.post4912721145839157022..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Brian Romanchuk — Good Article By J.W. Masonmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2761684730989137546.post-40167427687724561242016-07-08T10:02:49.666-04:002016-07-08T10:02:49.666-04:00I read a pretty good quote the other day on Bill.M...I read a pretty good quote the other day on Bill.M. place in a comment:<br /><br /><i>As one heterodox economist wrote in the 90s when Sweden implemented internal devaluation, or as the called it ‘budget decontamination’:<br />“But who cares about the economy today? Every day, programmes [on “economy”] are broadcast. But there is no discussion of the economy, only of the finances. Short- and long-term interest rates, budget deficits, equity quotes and whatnot are discussed, but not the economy.<br /><br />The “economy” is not the same thing as the “finances”. The economy is human activities, the way we create value by using our knowledge and talents. Today’s waste of human resources has no place in the cynical world of finance.<br />…<br />The real-world economy must comply to being cut short in order to fit this financial Procrustes’ bed. ”</i><br /><br />Mainstream economics is about talking about finance while pretending that you are talking about 'economics' and pretending that you are not talking about finance and you are ignoring it because 'it all balances out' (due to supposed money neutrality and Say's law).Ignaciohttps://www.blogger.com/profile/16082008115484199316noreply@blogger.com