Recent content by Wedn

This has been a perfect thread combining all the right elements- intellect, seriousness, wit, tom-foolery, and quirks. Bravo.

I have taken your thread as a launching pad to talk about money in a use that departs from your original and particular concern; this is a way to expand discussions... but now, turning to your concerns with money and price: the best way in my view to consider fair price is to look at things from...

Yes DSGE. Thanks for your serious discussion. Your attention to specific definitions is the right thing to do for the sake of effective communication. Okay- I can see why it is important to limit how we use language in a specific field like economics and finance and accounting and such. But-...

DSGE, thank you for the discussion. But I am surprised by your point of view. What is used to create new large scale ventures in Commerce? Only history can answer the question adequately: It is Capital. What is the original source of Capital? It is land. How is land changed into Capital? By...

Money as an inert medium of exchange is not what monetary theory and monetary policy is about; The people at the Fed wake up every day thinking about money as Capital- not money as a medium of exchange; money exercises its full range of power only as Capital, and this is what the Fed seeks to...

Monetary theory is theory of the medium of exchange, money. What do you mean "inevitable transition of medium of exchange into capital"? Money isn't a factor of production. It doesn't get turned into capital goods. It acts as a medium through which exchange of any goods and services is...

Oh! you were talking about the medium of exchange? I thought you were talking about price theory; and monetary theory, and monetary policy, and the effect of money on the real economy, and what happens when money becomes wealth, and how wealth affects the progress of economic activity going...

It seems the topic here attracts little interest, the future of so-called 'free market Capitalism' - which perhaps points to a possible answer to the question itself; the mass of people who make up the 'real economy' are for the most part blind actors. This is of course why there is not now, and...

In this entire discussion I have not seen the term 'Capital' mentioned once. It is the single most important term in our modern economic reality and has upon monetary theory the weight of the world.

To consider the present without reference to the past is like living and acting without memory; Economic and Political discussion must imbue the present with the past which created it; so, as I bemoan the present state of America, and search for some hope for her, I look to her past with a hard...

America is a nation whose economic system is Capitalism... this is a solid fact... but it is a nation whose system is far from the free market... the public sector and the private sector are fused- such that our government serves the interests of Capital first and foremost. Also, all people...

I want to thank everyone who made comments. First, I think I should address the question posted by whitehall- So, how do we define 'free market capitalism'? There is no simple definition for free market capitalism, and I completely agree with Truthseeker420 when he says that this term 'free...

The question for me remains- how many Americans believe in Laissez-faire Capitalism these days... based on the behavior of the major political parties, is there evidence for such belief there? and do modern Americans (in the majority) even care, or think about it? Of course everyone wants to...

expat_panama, I wish I could be a cheerful optimists and feel all is well with the world, the way I felt when I was very young and protected- but today I crumble under the weight of all that has gone wrong and may yet go further wrong... I cannot help but be pessimistic, though even in me- hope...

dblack - "This dynamic is, essentially,corporatism, though Olson didn't use the term. It's extremely difficult to break out of, usually requiring massive upheaval to disintegrate the existing power blocks." Yes dblack, a power structure is in place, and it is becoming ever more oppressive-...