Tuesday, January 29, 2013

James K. Galbraith — Keynes, Einstein, and Scientific Revolution

Following up on yesterday's Galbraith post.

The American Prospect (December 19, 2001)
Keynes, Einstein, and Scientific Revolution
James K. Galbraith | Lloyd M. Bentsen Jr. Chair in government-business relations at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin, a senior scholar of the Levy Economics Institute, and chair of the Board of Economists for Peace and Security


Bob said...

Watched the Einstein story on H2 tv channel last night. This man was a god send to the human race.
No way you can put Keynes or anyone else in History in the same class as Einstein except for Newton, Bernoulli, Faraday, Clausius,a few others, recomend reading FIVE EQUATIONS THAT CHANGED THE WORLD by Michael Guillen. These men identified indistuptable equations of the universe. All others are theories.
Back to realty
Tale of Two Loan Programs
see Wall Street Journal article:
"U.S. Funds Targeted for Small Business Instead Used by Banks to Repay TARP"
This article proves the shell game of funny money transfer to hide the evil tax on the US public called inflation and devaluation of the currency thru wrong doers and the double speak artists. Marc Faber said today on CNBC to the Money HOney Maria B. The stock market has gone up 12% but the USD has fallen 10% and the sick currency of the EURO has outperformed the USD. THe central bank should be proud of this!"
Common sense and a simple understanding of what these shysters are doing is not hard to see. A shell ponzi scheme which will end badly. Marc Faber also said today on CNBC "The US central bank will suffer a huge embarrasement if they create a bubble in the stock market, which will be evident if and when it crashes. He called the drop in Treasuries one year too soon, but I believe there is a disconnect in the rising stock market with very low employment and the new jobs are low skilled low paying jobs. I am long the indexes but proceed with caution.

Matt Franko said...


But dont forget that the euro was a lot higher some years ago... $1.60ish

The Euro is off the bottom but no where near highs... and it is not "sick", I dont know if that is an appropriate term to use to describe a currency by Farber there... ie currencies cannot be "sick".

The Japanese govt is devaluing the Yen vs USD to support exports... simple.

These exchange values are for the most part set by govt central bank currency monopolists...