Neil gives three reasons why the debate matters and ends with, "Make no mistake this debate over the nature of money is the capital debates of our time.... Keen vs. Krugman represents the start of the Kambridge Kontroversy."
Read it at 3spoken
Keen vs Krugman and why it matters
by Neil Wilson
3 comments:
"the capital debates of our time"
It's BIGGER.
Resp,
We haven't had a transcendental big serious discussion about the nature of money probably since XIX cent. Yes, there were a lot of discussions in XX cent. in economic circles, and quite important ones, and during the GD there were some serious discussions which probably involved the population somewhat, but the failure to do it to a critical point pushed the world to WWII.
But since XIX the whole population has not been involved in the grand theme of the nature of money, banking etc. and is about damn time it does again, eventually they will be forced to anyway, since state planned communism failed probably the discussion can't be avoided at this point.
And then... oh then it's just Pandora's box what is openned and anything thing can happen, sometimes great things, others terrible things, time will only say.
But believe me when I say CAPITAL will be defending its position again at every ocassion, and the Krugman's of the world won't make it easier.
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