Holy crap, I wasnt going to post anything more today, and let Kris Delmhorsts lyrics just sink into the face-book-osphere. BUT! Krugmans blogpost today (colloborating an important speech by Larry Summers (am I promoting him!?!?!?!)) gets almost to the point of admitting that our whole economy is founded on a lie: that we need to convince people to spend money on shit they dont need in order to perpetuate it... and that we are getting to the point where we cant convince more people to buy more and more shit. (because it doesnt make us happy) Thats my interpretation, but heres a good quote: Private spending that is wholly or partially wasteful is also a good thing,... But suppose that U.S. corporations, which are currently sitting on a huge hoard of cash, were somehow to become convinced that it would be a great idea to fit out all their employees as cyborgs, with Google Glass and smart wristwatches everywhere. And suppose that three years later they realized that there wasn’t really much payoff to all that spending. Nonetheless, the resulting investment boom would have given us several years of much higher employment, with no real waste, since the resources employed would otherwise have been idle. Maybe were getting closer to disposing of capitalism than I thought, if actual legit real economists are inching closer to the realization that weve maxed out the global credit card for a mirage.
Posted on: Sun, 17 Nov 2013 00:12:46 +0000
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