A Maximum Money Meltdown? A Blooming Attention Economy?
Crash-free No Longer In a recent post, I discussed the current problems re sub-prime mortgages and the credit crunch in connection with ignorance in high finance and in general. The complex entities...
View ArticleThe Current Economic Debacle and the (Continued ) Rise of the Attention Economy
American and probably world financial institutions continued to reel today as an outcome of the credit collapse that began with the sub-prime mortgage mess. Because primary and secondary mortgages and...
View ArticleWho Failed to Walk Back the Cat?
While a money-economic downturn would have happened anyway, it need not have hit with the precipitousness it did. That has to be blamed quite substantially on the combination of cupidity and stupidity...
View ArticleWHY THE CRASH? — Part 1.
As I write, the stock market is flatlining, credit has seized up, no one seems to know what to do, and bad times seem in store. What caused it? Not what you think. Not, basically, greedy Wall...
View ArticleWHY THE CRASH? Part 2 ——NOT ENOUGH CONSUMPTION
SUCCESS REACHES ITS LIMITS In my previous post on the crisis, I claimed that we are suffering from too much savings and not enough consumption. The worldwide pool of money seeking growth investments is...
View ArticleWHY THE CRASH? Part 3—— MONEY, STANDARDIZED GOODS, ATTENTION AND LUXURIES
In the previous post, I pointed out that money is of great importance only when the world is dominated by standardized goods and services. One essential of standardization is that goods or services...
View ArticleMusings on Brad DeLong’s talk on the Financial Crisis
[Note: this is another entry in my attempt to make sense of the crash and see how it is tied to the Attention Economy. Some earlier entries are here, here, here, here and here.] I attended an...
View ArticleFinanciers help bring about decline and fall of money
In earlier posts I noted that even if “Wall Street” is temporarily saved and more carefully regulated, it will be difficult to prevent a meltdown similar to the current one from happening soon again....
View ArticleHow Did Krugman Miss So Much?
Paul Krugman in Sunday’s NYT has an article entitled “How Did Economists Get it so Wrong?” It’s fine as far as it goes, I think, but it misses so much, since it just focuses on financial economics. No...
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