Hayek taught us correctly to think in production cycles and networks of trade as well as soft capital. He failed to convert econ to balance sheet from income statement. Until becker we didn’t have a model. Yes,financialization was a catastrophe but that’s what political WAR DOES.
Source date (UTC): 2020-03-24 12:10:24 UTC
Original post: https://twitter.com/i/web/status/1242423516592562176
Reply addressees: @Lord_Keynes2
Replying to: https://twitter.com/i/web/status/1242423033698099200
IN REPLY TO:
Unknown author
@Lord_Keynes2 So you’re missing the point. The K/NK were facilitating the left and consumption, while the right was fighting the long term to preserve soft capital’s returns. So you’re casting a dispute over economics that was driven by long term left-arbitrary rule, vs right rule of law.
Original post: https://x.com/i/web/status/1242423033698099200
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