“Protectionism, socialism, and communism are basically the same plant in three different stages of its growth. All that can be said is that legal plunder is more visible in communism”
There is nothing wrong with seeking to make the world a better place, but we should remember that moral righteousness divorced from humility and empathy for adversaries can lead to the same fanaticism that tore France apart in 1789 and China in the 1960s.
It shouldn’t be surprising that the so-called personal savings rate closely resembles the momentum of money supply. In this way of the RBI can pretend that there is no need to worry about savings, as it can always boost them.
Contrary to to what the talking heads on TV tell you, “spending” and “consumption” are not what causes economic growth
The only difference between these foolish feudal Kings and the eurodollar system of today, is that now our academia has led many to believe that more of the poison is the only way to cure the sickness.
Keynesians (and that includes the great Dr. Swamy) conflate saving with hoarding.