Marx interpreted by Markov

Marx says you do not have enough agents to kick the can one more time. The concentration of wealthy cannot be increased.  Markov says that the next jump up the tree will not be possible as N is limited, moments will not match.

So, in effect, this is flat earthing failure. We will reach this points once a generation when generational change restricts N.

So why does Krugman miss this simple point?  He doesn't miss it, he is not that stupid, he is hiding the problem. He thinks we can do a pretty good monetary reset.  But a better monetary reset requires we acknowledge the Lucas criteria and we can do a monetary reset slightly better than Nixon's Shock.

The other side of this debate are composed of another batch of flat earthers, the Trumps, Moores, and Kudlow.  They make the same mistake, they think the =wealth will redistribute without a monetary reset.  Both sides foul this up fairly badly,  2/3 of our economic schools are fraudulent. That is a harsh condemnation of economics, but they deserve it because of their tendency to hide processes and fake it.

I see it quite often, economists having this Wile E Coyote moment when philosophies do not cure the problem, Coase solves the riddle, Coase, Shannon,  Nash, Lucas and Markov.  The real economists.