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Reply #20: The end of monetarism [View All]

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sweetheart Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-16-06 05:47 PM
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20. The end of monetarism
Its the ironic end of monetarism, as a philosophy, a practice, an outstanding revolutionary principle indeed,
to bubble out currencies and paper over economic graft, nixon launched usa in to it when he dropped the
gold standard in 1972. When votes are these inflatable slips of paper, a new arisocracy is created, the
printer's (monetarist economists) - 'the chicago school', and the wealth is reallocated to their order
and ratinale. And great was his day, now that it's over, it was a school of its time, where graft and
total US hegemony was the norm, with the now-rising true-multipolar world trading economy, monetarism
will prove too volatile and we'll be back to keynes, back to managed trade and an energy-standardized 'joule'
global currency convertable in to energy.
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