An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, May 16, 2013
Randy Wray — Hyman Minsky and the Employer of Last Resort
Collection of Minksy's articles on the JG, and a link to Randy's presentation on it.
I think Roger may be making the point that in biology, when a species is "in trouble", it usually becomes widely known across the population and then the group figures out how to adapt/evolve their way out of/around the trouble...
So this is not happening effectively within the human species at this time...
Could be happening due to many factors such as
Lack of effective communications...
Corrupt authority/leadership...
Unqualified (ie stupid) authority/leadership... (I vote for this one)
etc...
Would seem to me we have to 1 identify the 'trouble' first, 2 analyze/explain it, then 3 authority/leadership to implement the corrective actions...
I think we are still in step 1 dipping into step 2...
What we need even more is some way to provide a national "SituationalAwareness of Last Resort."
ReplyDeleteOtherwise we drift into systemic ignorance, and wake up just enough, just in time ... to save our country again.
Continually triggering that kind of uncertainty - not just risk - is stupid. One of these times it won't be barely enough, barely in time.
Roger, I suspect you might be on the wrong planet.
ReplyDeleteThere's probably a planet out there, somewhere, which is following your ideas.
Why, the twits involved in evolution never grasp what they're doing ...
ReplyDeletehttp://wtfevolution.tumblr.com/
but that doesn't mean that none can.
The adaptive way to respond to what you don't understand is curiosity, not damage.
y,
ReplyDeleteI think Roger may be making the point that in biology, when a species is "in trouble", it usually becomes widely known across the population and then the group figures out how to adapt/evolve their way out of/around the trouble...
So this is not happening effectively within the human species at this time...
Could be happening due to many factors such as
Lack of effective communications...
Corrupt authority/leadership...
Unqualified (ie stupid) authority/leadership... (I vote for this one)
etc...
Would seem to me we have to 1 identify the 'trouble' first, 2 analyze/explain it, then 3 authority/leadership to implement the corrective actions...
I think we are still in step 1 dipping into step 2...
rsp,