Tell me, what do you think it’s going to take to reach the ‘Washington Consensus’, etc., crowd about the realities of the Equilibrium, Ergodic and EMT Theory fallacies?
(NEW TRUTH) The Great American Bubble Machine, by Matt Taibbi
ALTERNATIVE EXPLANATIONS OF THE OPERATION OF A CAPITALIST ECONOMY: EFFICIENT MARKET THEORY VS. KEYNES’S LIQUIDITY THEORY, by Paul Davidson
Thanks to Mr. Davidson the world may still have a chance to awaken from its long classical economics slumber. It's truly a shame that the information to right the world's wrongs has existed since Plato, yet the world chooses to listen to defunct ideological classical, orthodox conflation mongers, instead of a sound mathematical economist like Paul Davidson. He started his career as a mathematical chemist, so he certainly understands better the real world mathematics underlying our economic problems.
I've often asked why the world can't understand the simple concepts of 'equilibrium', 'efficiency' and 'ergodicity' maths. It seems that when philosophers, physicists and economists take hold of these simple mathematical ideas, they thoroughly conflate their true meanings to a complete inversity of the realities involved. It's truly time for de-conflation.
Davidson and many others have been trying to right this capsized boat for many years, with little understanding from the mainstream communities, of the seriousness of the issues involved. It's really not to difficult to study mathematical history to uncover the truths of what Mr. Davidson speaks, compared to what the "Washington Consensus" herd bleats out. We need more minds of the soundness of Paul Davidson...
Equilibrium /|\ Efficiency /|\ Ergodicity
/|\ = Logic symbol for 'not same, yet related'
"Truth tends toward itself, til it tends away". My quote for true ergodicity.
The Triadic Maxim___Any Idea; “Arithmetically check all possible effects, against all possible premeses, and the combined results will be the total actions of the idea.” me