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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Tuesday, August 13, 2013
Paul Krugman — When a Political Party Goes Off the Deep End
Harsh reality. Is the present situation reminiscent of 1860?
How can there be a revolution if an alternative cannot be articulated?
Krugman should be happy. Democrats will win control of both the Senate and the House, and won't have to compromise with those deep enders. A renaissance will then follow...
How can there be a revolution if an alternative cannot be articulated?
Revolutions seldom adopt a pre-planned scenario or set of goals. Nature and history generally don't take leaps but change incrementally. When there is sudden change in a complex system its outcome is uncertain owing to complexity and transcendence. Necessity is the mother of invention. Problems and solutions are contextual. and right now context is changing fast globally.
"Revolution implies sudden change v. evolution implies gradual, incremental change."
That's why evolution is more powerful and changes everything forever. It cannot be terminated by any regime or ideology. But, its big disadvantage is that is very slow, is a process that it takes very long time.
The age of stagnating revolutions(?)
ReplyDeletehttp://failedevolution.blogspot.gr/2013/08/the-age-of-stagnating-revolutions.html
How about when an entire, courtier-centric profession (economics) goes off the deep end?
ReplyDeleteHow can there be a revolution if an alternative cannot be articulated?
ReplyDeleteKrugman should be happy. Democrats will win control of both the Senate and the House, and won't have to compromise with those deep enders. A renaissance will then follow...
Fantastic! Then we can repeat 2008-2010
ReplyDeleteNirvana, here we come ... again.
How can there be a revolution if an alternative cannot be articulated?
ReplyDeleteRevolutions seldom adopt a pre-planned scenario or set of goals. Nature and history generally don't take leaps but change incrementally. When there is sudden change in a complex system its outcome is uncertain owing to complexity and transcendence. Necessity is the mother of invention. Problems and solutions are contextual. and right now context is changing fast globally.
You may be using a broader definition of revolution than I am (or in the OP link provided above).
ReplyDeleteWhat will replace capitalism?
It doesn't necessarily have to be an abrupt change. The transition from feudalism was gradual.
American Revolution, Russian Revolution, these are small potatoes.
Revolution implies sudden change v. evolution implies gradual, incremental change.
ReplyDeleteThere are violent and non-violent revolutions, e.g., "velvet" revolutions of Eastern Europe.
Tom, exactly as you said
ReplyDelete"Revolution implies sudden change v. evolution implies gradual, incremental change."
That's why evolution is more powerful and changes everything forever. It cannot be terminated by any regime or ideology. But, its big disadvantage is that is very slow, is a process that it takes very long time.