And without Keynesian intervention,
how can we rationally hope to avoid a second,
much worse collapse?
how can we rationally hope to avoid a second,
much worse collapse?
"The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness."
~ John Kenneth Galbraith
“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.”
~ John Maynard Keynes
In this video clip Alan Greenspan pretty much admits that the cause of the financial system collapse in 2008 was his ignoring that Keynes truism. Quite a blind spot considering that the most wickedest of men were also his best friends!
"Political economy came into being as a natural result of the expansion of trade, and with its appearance elementary, unscientific huckstering was replaced by a developed system of licensed fraud, an entire science of enrichment."
~ Engels, Outlines of Political Economy (1844)
"A developed system of fraud" -- aka banksterism.
TAGS: Economics, Banksters, Alan Greenspan, Ayn Rand
