Thursday, October 7, 2010

Economics

Both Friedman and Keynes are wrong. They are both opposite extreme economic concepts that clashes not just because of their basic tenets but because they both seek consensus. Consensus comes through compromise and both ideas have become religion and don't work on compromise. Ideas on both sides are good. Its obviously difficult to satisfy large global and national groups by force. Use what works, keep it simple. Eliminate the greed. Current economics is no different than a game that involves betting. The old idea of barter could never work. Currency is need to drive an economy. Any game has rules and most are simple. The most important being cheating. The game must be played above board. All transactions must be transparent. No reason to hide anything unless you are cheating.
Likewise its bad business ethics and logic to extend credit to those who show they can't pay it back.
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