från Charles hugh smith
The next decade will see the complete failure of conventional economics. Why is this so?
If we take the very long view, we find that all of conventional economics developed in the era of ever-cheaper, ever-more abundant energy and the miraculous ”low hanging fruit” productivity gains made possible by cheap energy and the tools of mass production and industrialization. Like a creature that was born in the morning and has only seen daylight, conventional economics has never experienced night and so it has no conception of darkness.
This is true of classical, neo-classical, Marxist, Socialist, Keynesian, Neoliberal, ”Capitalism with Chinese characteristics,” etc.
Jag hittade den här via flute-tankar.