The Most Important Book of the Pandemic Makes Trump Look Less Crazy



I dig the irony at the end, but I don't get how the pandemic makes Trump look less crazy.

But far as I know, "full employment" hasn't been a priority of the Fed since the days of Paul Volcker.


...yeah you lost me. The deer trails in the wilderness of Mudedes mind. Look, huckleberries!


Oh wait, its the book and not the pandemic that makes him look less crazy. My mistake.

So its in reference to his concern about the unemployment figures. That makes sense.


OK, you lost me.

Look, the thing is I'm a real capitalist, as in Adam Smith Wealth of Nations full seven pamphlets version, which you guys think is "socialist" or "communist", but it's actually capitalist.

What society incorrectly calls "capitalism" is actually "merchantalism" or rent-seeking.

Trump may be a mercantalist, but he's not a capitalist. Never has been. Never will be.


@4 Now see, I thought "mercantilism" refers to a trade theory that emphasizes tariffs in support of a balance of trade that sends goods out and brings currency in. So it stands in opposition to "free trade". As such, its not an alternate to capitalism but rather a capitalistic strategy.

Socialism vs. Capitalism is concerned with ownership and control of the means of production. You can think of Socialism as economic democracy - an extension of the political revolutions of the early modern period which replaced monarchies with democratic republics. Doing that to the work place.


What a grand romp! Thank you Charles.


Another hat-tip to you Charles for this one. As long as you're writing, I'm reading.