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  • Lack of demand and the destruction of self-esteem

      Just having finished my earlier post, “Psycho-Economic Depression“, I came upon this by Fritz Schumacher, from “Small is Beautiful” (pages 203-204). It seemed to fit: If the nature of change is such that nothing is left for the fathers to teach their sons, or for the sons to accept from their fathers, family life [...]

  • Psycho-Economic Depression

    The industrial revolution wrought by Frederick Taylor is complete. Production is divided among a mass workforce which, as if by Smith’s “invisible hand”, creates what we need. And so, in Hayek lockstep, we move forward. Its simple, elegant banner is Leonard Read’s classic, “I, a Pencil”. It is true, there is not one of us [...]

  • Pairing: Bernanke as an Answer Among Uncertainties

    Recent behavior in financial markets really does resemble the dynamics of large groups. Markets, like groups, struggle through long periods of anxiety, attempting to reach some momentary closure that brings sense— at least temporarily— to interactive flux. A perfect example has been the elevation of the Fed’s Ben Bernanke: from Rick Perry’s recent derogation of [...]

  • The Markets’ Increasing Dread

    It has been a few weeks since the “resolution” of the US debt crisis. And there has been a cascading erosion of public confidence as unemployment, diminished growth and “Japanization” in Europe and the US, increasing dangers of Eurodebt sans Eurobonds have correlated with a 16% drop in the S&P ( a measure of convenience). [...]


This is the archive for August, 2011.


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