PEI1990 Capital Flows
COMMENT: Marty, I used to be cleansing out my workplace. I get round to as soon as each 31.4 years, and I discovered your report that was controversial again in 1990 if you have been at warfare towards the fundamentalists who have been all the time getting it unsuitable, as they nonetheless do at this time. I scanned it in and thought it is best to submit this for the newcomers. You invented capital circulation evaluation, and it’s possible you’ll not qualify for a Nobel Peace Prize because you advocate for peace moderately than warfare, however you might be in a class all by your self. Being a dealer moderately than an instructional who was within the trenches moderately than in an ivory tower. Individuals have to know that.
See you in London
SK
REPLY: Very attention-grabbing. Sure, they all the time use warfare to cowl up one thing else. Hitler and Napoleon have been attempting to resurrect the previous Roman Empire over all of Europe. The times of empire constructing impressed by the Physiocrats that the wealth of a nation was agriculture, so that you conquered nation after nation are lengthy gone. Adam Smith wrote his Wealth of Nations to problem the French Physiocrats and their view that solely agriculture was wealth. He argued that it was the whole productiveness of a nation that constituted its wealth.
Then alongside got here Marx, and the wealth grew to become labor, and he tore aside the economic system out of jealousy. He attributed nothing to human creativeness, the supply of all financial development. Communism proved that the federal government was incompetent in regulating or creating the economic system.
Smith was NOT an instructional. He went out to watch how all the things actually functioned. The socialists hate Smith as a result of they observe Marx and need to pressure the economic system to operate the best way they assume it ought to. They reject any idea of a enterprise cycle and provide you with silly theories like Random Walks, for that implies that they will then manipulate society as a result of it’s all simply random.
They’re now all in a tissy. The federal government desires to REGULATE AI, and Biden put our illustrious VP in cost. There’s a actual menace that they’ll regulate what they don’t perceive and, within the course of, destroy the trade, as they did with funding recommendation and pressure individuals offshore, giving delivery to the Hedge Fund Trade.
