Saturday, December 21, 2013

Bitcoin and the unregulated economy or wtf, libertarians, again?

More from the Bitcoin discussion.

What is it with libertarians? We live in a world in unregulated trading has crashed the global economy and still libertarians ask for more data and more experiments. It is like climate denialism. Enough, already. Keynesian economics has passed numerous experimental tests. Time to accept it and move on.

I worry about (to misquote myself) an economy like a climate system, with arbitrary and unpredictable weather, vast storms, freezes, burns, droughts. This isn't a maybe thing; we know that without fiscal and monetary policy that is what we will get. And the very wealthy can work that system in their favor, so that only they will be able to save. And that is one possible future, and it ends with our civilization drowned.

Seriously, libertarians, wtf?

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