commentary by Roger Erickson
Fabius Maximus writes About the violent mobs in the Middle East. And in America
"Every large event, every fork in the road, signals the need to stop and think about our course of action. America today is defined by our refusal to do so, as we see in our reaction to the riots. Our mob psychology mirrors theirs, but we tend to reply with greater firepower."
Fabius Maximus writes About the violent mobs in the Middle East. And in America
"Every large event, every fork in the road, signals the need to stop and think about our course of action. America today is defined by our refusal to do so, as we see in our reaction to the riots. Our mob psychology mirrors theirs, but we tend to reply with greater firepower."
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There's a lot of truth in that statement. The insight applies to other fields, and certainly to orthodox economics. Eventually, the loser in any repetitive competition will be the one who can be manipulated into getting angry, losing control of their own actions, and refusing to think. After that, the winning opponent is inside the losers decision-cycle, and outmaneuvering the loser.
What was the orthodox response to the operational invention of an agile, scalable, fiat currency regime? The orthodox economic community fought back with an overwhelming volume of academic BS. They tried to silence revolutionaries with greater volume if not quality of firepower. And, of course, there's a lot of anger still be slung around. That's not science, where answers, not argument is the key concept.
When all sides lose their temper? There is no long term improvement. There is only failure to make a more perfect union.
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