DANIEL KEUHN : OBFUSCATORY LANGUAGE —“The greatest hesitation I have about the

http://delong.typepad.com/sdj/2013/10/donald-kuehn-none-of-them-along-the-line-know-what-any-of-its-worth-noted.htmlCONTRA DANIEL KEUHN : OBFUSCATORY LANGUAGE

—“The greatest hesitation I have about the market economy is the wedge between demand and the willingness to pay that is the ability to pay.” —

Curtd said…

Hmm…

(a) What is incorrectly allocated in the structure of production that allows people to desire to consume, but have nothing to exchange?

(b) It is probably true that if we bypassed the financial system, and inflated the currency, by directly, say, crediting people’s debit cards – as long as it was done equally, that this would increase activity in the economy by redistributing savings and investment that are not moving, to consumers who desire to spend. We’ve been talking about this for a couple of decades now.

(c) But why is there structural misallocation in the first place, and what misallocations are we creating this way?

— We are creating poor single parent households. Would this activity increase the rate of creation of single parent households?

— We are clearly failing at education of our work force compared to the Germans

— We are clearly transforming old age savings into academic institution equity, and long term student debt, without performing any useful education other than sortition.

— We are clearly immigrating vast numbers of low wage workers rather than employing our young and old at higher cost, and therefore creating two dependent classes.

— We are clearly destroying the system of intergenerational cooperation of savings and borrowing, and the information system that goes with it.

— We are clearly depending upon future anticipated growth, based upon a five hundred years of the spread of anglo absolute nuclear families, accounting, law, money and prices around the world by forcible conquest and unforced competition.

(d) Instead: WHAT TROUBLES ME IS THE MISALLOCATION OF ACTION, CAPITAL, CREDIT, and POLICY THAT PREVENTS PEOPLE WHO DESIRE TO PAY FROM EARNING SOMETHING TO PAY FOR IT.

One can use the artful word ‘wedge’ as a means of obfuscation: As OBSCURANT LANGUAGE, in order to obfuscate the underlying CAUSAL RELATIONS. This is what it means to speak as a leftist: using obscurant, and therefore, unscientific language. 🙂

At least the right’s religious people speak in analogy not obfuscation. 🙂 The left’s religious people simply use obfuscatory language, and artificially select short time horizons so that they can ignore externalities. 🙂