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.
Capital (as in Capitalism) is usually referring to whatever monetary manipulations of the real economy the moneychangers can scam together. This is why folks who consider capital the main focus of economic inquiry get so hopelessly confused when the issues of industrialization come up. The believers in capital usually assume that the two are the same thing—Marx certainly did.
As far as I am concerned, understanding economics BEGINS when folks firmly understand the enormous differences between "Capitalism" and industrialization. Of course, the biggest difference is that one (Capitalism) is about getting something for nothing while industrialization is about solving intensely difficult problems and building nations.
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Capital (as in Capitalism) is usually referring to whatever monetary manipulations of the real economy the moneychangers can scam together. This is why folks who consider capital the main focus of economic inquiry get so hopelessly confused when the issues of industrialization come up. The believers in capital usually assume that the two are the same thing—Marx certainly did.
As far as I am concerned, understanding economics BEGINS when folks firmly understand the enormous differences between "Capitalism" and industrialization. Of course, the biggest difference is that one (Capitalism) is about getting something for nothing while industrialization is about solving intensely difficult problems and building nations.
Once you understand THAT, the rest is easy.
"the history of economics going back to Ricardo..."
OMG do we haaaaaavee tooo???
Electrician: "hey, Joe, I'm drawing a blank, do we use a 20A breaker on that circuit or 15A?
Joe: "Well, in 1805, André-Marie Ampère of France did an experiment where he demonstrated......
Electrician: "Ah Joe STFU is it a 15 or a 20 for crying out loud?!?!?"
;p
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