Wednesday, December 25, 2013
A Homely Analogy for Keyneseanism
Keynes is like you lose your job because your industry went up in smoke, so you borrow money if you can to get training in a new line of work, to get a suit to go to interviews, to get a car if there's no longer work in walking distance, OR, you keep yourself busy doing productive things, prettify your house and garden, work out like you never did before.
If nothing else, keep up the habit of working and keep up your spirits. These are all like using the overabundant thing: labor, to create real and lasting value (or even just prevent the slide into a permanent bad attitude), even if you can't make anything to sell at the moment -- if it will make you more effective at creating real value in the future, it's called investment.
The current ruling philosophy is like you lose your job, so you're afraid to spend any money for anything, you just sit around and let your house deteriorate; you get out of the habit of going to work, you forget the skills and knowledge you had, you follow the path of least resistance, listening to idiotic but amusing talk radio -- which expresses all your anger and whininess for you -- rather than look for something you might learn from. You don't work out because it would increase your metabolism so you'd have to eat more. You eat the cheapest junk which makes your body deteriorate. It's called hunkering down. When did that become the America Way?