So the problem is calculability. The gold standard created a baseline for economic calculus. The question is, what is the baseline for economic calculus in the absence of external pricing? (It’s full accounting of capital and income.)
Source date (UTC): 2020-04-22 20:06:02 UTC
Original post: https://twitter.com/i/web/status/1253052462656880648
Reply addressees: @judicialist
Replying to: https://twitter.com/i/web/status/1253052183077158917
IN REPLY TO:
Unknown author
@judicialist I’m saying (a) that is the source of the criticism, yes, (b) that it isn’t limited to ((())), (c) that there is no reason not to borrow against a people’s future since losses are recursive – not externalized, (d) that a people cannot self-insure and (e) cannot compete without it.
Original post: https://x.com/i/web/status/1253052183077158917
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