5,460 comments posted · 0 followers · following 0
Thank you for giving us your thougths on economy, Phoenicia. If Brexit happens house prices will go down.
Absolutely. That's why our global world have to move away from Milton Friedman's version of economics. Pity that the top 1%, not least in the US, use their influence to lobby politicians to keep on implemeting his ideas. The Euro was doomed from the beginning because of what you say. One of my exes was a top guy on Wall Street and the City of London and an advisor to the governor of the Bank of England. They understood that and, as you know, Britain did not join the Euro.
Used to personally believe in Milton Friedman's approach to economics. But in 2008 I realized that his theories were wrong and have never looked back. Pity that most people still listen to the ideas that come out of the University of Chicago.
Let's see, time will tell, Sabrina. Catch is Milton Friedman's version of economics benefit the top 1%. So it will be difficult to get away from it.
Economics is not really a science but various theories about what will happen to the economy if we do x,y or z.
Economics are a variety of different ideologies. The father of capitalism, Adam Smith, was not greedy. On the contrary, he emphasized the importance of taking care of your fellow man. Milton Friedman's version of economics though is pure greed. And it's the latter that's a problem on a global scale. The concept of the Euro was flawed from the beginning because economies as different as Germany and Greece can not be treated the same way. The reason the Euro was created was purely emotional because former German Chancellor Helmut Kohl wanted to celebrate the union of Eastern and Western Germany to one country.
Glad, and not surprised, we agree, Patricia. The top 1% in the world is not letting go of Friedman's version of economics. There will however at some stage come a time when they will be forced to. Maybe because of the number of refugees being so astronomical that they are losing money? Something needs to happen that have a really negative impact on their wealth.
True, Lenie. But a new line of thinking applies not only to the business world but all aspects of society. And if grown ups don't adapt they will be left behind. A bit like refugees who don't bother to learn the language in their new country. Their children, who do learn the language, are in charge of the family.