On December 8, 1940, Winston Churchill wrote to Franklin Roosevelt. The situation was indeed grim, France having fallen to the Germans and the United Kingdom pushed right off Continental Europe. Defeats in the Pacific were some of the worst in the long history of the British Nation. The battle was now raging over English skies, the island isolated in every [...]
For the very few in the mainstream of economics who venture further back in history than October 1929, they typically still don’t go much last April 1925. And when they do, it is only to further bash the gold standard for its presumed role in creating the conditions for 1929. The Brits under guidance of Winston Churchill made a grave [...]
Part 1 is here, the history of defining systemic operation since 1907. The quest over equality or the “right” to impose optimal outcomes is one that cannot go backward. The inevitable failures lead no duty to re-assess overall, but only the means by which the results are to be commanded. That was the essence of Triffin’s Paradox, which was only [...]
Value as a foundation seems almost too literal to be an economic or financial concept, but it is perhaps the bedrock association that makes the economic system. We are used to aspects like profits and money, even inflation, but those are all symptoms of the ever-changing world surrounding value. Karl Marx understood very well how deeply embedded value was even [...]
Stay In Touch