tag:blogger.com,1999:blog-2761684730989137546.post5628091655911636945..comments2024-03-29T09:32:34.853-04:00Comments on Mike Norman Economics: Edward Harrison — If Donald Trump remains a cultural warrior, he will failmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2761684730989137546.post-79964449434512997912017-02-09T10:23:25.397-05:002017-02-09T10:23:25.397-05:00Not a great argument, Ralph. The Zoroastrian world...Not a great argument, Ralph. The Zoroastrian world under the ancient Persians was superior to the West, which was only beginning to develop. The Islamic world was superior to the West during the Middle Ages. Chinese civilization was predominant for most of human history.<br /><br />The West became predominant at the time of the Great Divergence<a href="https://en.wikipedia.org/wiki/Great_Divergence" rel="nofollow">Great Divergence</a>, which began gradually after 1492 (European discovery of America and beginning of colonization) and went exponential in the 19th c.<br /><br />A lot of the lag in development has been owing to Western imperialism and colonization. "Comparative advantage" meant that the Western powers monopolized technology and innovation and the ROW supplied the raw materials.<br /><br />Now that imbalance is beginning to be corrected, and powerful forces in the West are resisting it mightily.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-39546125883086463162017-02-09T07:39:25.575-05:002017-02-09T07:39:25.575-05:00The obvious flaw in Harrison’s argument is that cu...The obvious flaw in Harrison’s argument is that cultural (and perhaps racial) issues are crucial to economic outcomes. Look at the economies of Muslim countries: absolutely pathetic compared to Europe or North America!<br /><br />A significant proportion of Muslims may be thoroughly nice and hard working PEOPLE. Unfortunately the NET EFFECT of seriously Islamising a country is DISASTER.<br />Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-16804089141947033512017-02-08T12:56:42.057-05:002017-02-08T12:56:42.057-05:00Fed needs to get the rates headed back up Franko
...<i>Fed needs to get the rates headed back up </i> Franko<br /><br />How? By selling inherently risk-free positive yielding sovereign debt, i.e. with welfare proportional to wealth? Or with IOR (interest on reserves), also welfare proportional to wealth?<br /><br />There's an ethical way to increase interest rates - increase the demand for fiat by allowing everyone to use it in account form and not just depository institutions and by abolishing government provided deposit insurance.<br /><br />And if interest rates in fiat then get too high then lower them via equal fiat distributions to all citizens.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-38987612378110659252017-02-08T12:32:41.792-05:002017-02-08T12:32:41.792-05:00Fed needs to get the rates headed back up and Trum...<i>Fed needs to get the rates headed back up and Trump will be fine....</i><br /><br />Probably not happening with the US economy rolling over and Trump not prioritizing spending increase and middle class tax reduction.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-60738864818070988012017-02-08T12:21:25.736-05:002017-02-08T12:21:25.736-05:00Fed needs to get the rates headed back up and Trum...Fed needs to get the rates headed back up and Trump will be fine....Matt Frankohttps://www.blogger.com/profile/11082502216984169113noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-30910694869592428152017-02-08T12:15:41.345-05:002017-02-08T12:15:41.345-05:00Agree. Trump needs to take on the fiat and credit...Agree. Trump needs to take on the fiat and credit creation system if he wants to be a true hero.<br /><br />Hey Donald, they ain't killed me yet and I'm hacking at the root.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.com