The debate on the webosphere is about libertarians who believe in central bank caused general inflation. For actual economists who think this through, what does it mean? If you believe that socialist banking can cause uniform inflation, then you are a damned socialist, not a libertarian.
The whole point of libertarianism is that exchange transactions (rates and size) remain well matched to local desires and wants, network theory. There is an impedance mismatch when overly large government organizations try to move large chunks through this locally defined network, it doesn't flow.
Instead, Kelly Betting networks are set up to manage the aggregates that socialists build up. The Kelly networks match the large chunks of government goods with large chunks of other stuff, they look for a coherency network in real goods. The effect is price distortion, usually in commodities.
So, if government and the Fed have sufficient armed police to enforce socialist transactions, the likelihood is that they simply make apparent to everyone where the real shortages are. Socialism highlights resource shortages.
Liberals and Conservatives are sewn from the same cloth,they both believe in one size fits all.
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