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    Voodoo Economics
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    Voodoo Economics
    Unavailable
    Voodoo Economics
    Ebook19 pages14 minutes

    Voodoo Economics

    By Edward E. Rochon

    ()

    Currently unavailable

    Currently unavailable

    About this ebook

    The preface notes George Bush's attack on Reagan's economic policy as voodoo economics. My claim is that classical economics is essentially voodoo economics. The assertion that absolute and relative wealth (money) is the key to working out economic policy sets the goal of the essay. Chapter 1 attacks Say's law from the view of absolute and relative wealth. Demand does not exist in the marketplace without purchasing power, yet exists as a politic force and human need regardless. The view that supply creates demand is sleight of hand manipulation of the facts. Supply has no value without preexistent demand. New supply simply rechannels demand already present. Supply cannot be expected to produce demand without relative wealth (money) to buy this. Increased supply is no guarantee of this as others have noted for various reasons. And so money policy as a supplement is justified. Chapter 2 attacks the notion that labor is the chief factor in value. It is wisdom not labor that is paramount, and this changes how we view wealth generation. Chapter 3 discusses in more detail the effects of absolute and relative wealth on supply and demand. It discusses money policy correcting the problems in reconciling these two factors. A few points from previous essays about sewing gold thread into paper money, controlling the value of currency by in place redenominated bills is reviewed. Chapter 4 goes over the state as a wealth generation machine, with law as a secondary matter. It notes that income redistribution should be avoided as much as possible in favor of wealth generation. It notes the conflict between rich and non-rich in the flow of income redistribution. It notes the rich redistribute in their favor by financial manipulation and fraud, while the poor generally rely on politically mandated redistribution. It notes that corruption is not absolutely dependent on income status. Both rich and poor are prone to corruption.

    LanguageEnglish
    PublisherEdward E. Rochon
    Release dateMay 24, 2015
    ISBN9781311432735
    Unavailable
    Voodoo Economics
    Author

    Edward E. Rochon

    I write for my health and the health of the world. Often the cure rivals the disease in grief and aches. My writing career started at twelve when I attempted to write a sequel to Huckleberry Finn but never finished it. My writings have included poetry, plays, a novel, non-fiction and writing newsletters for here and there. Recently, I am dabbling into short stories. Apart from newsletters, nothing has been published in print. I bought an audio recording of one of my poems but threw it away in disgust due to an inappropriate reading by the narrator. 'Contra Pantheism...' was my first eBook. About a hundred eBooks have been published since including some books of verse, and my essays collected into five volumes, and one volume of collected poems. A few other types of literature are on my list of published works. My essays deal with fundamental questions of philosophy as well as natural philosophy (science.) On the whole, my works are as far above the writings of Plato and Aristotle as the material power of the United States is over that of Ancient Greece. I once asked myself if I had ever written anything memorable, but couldn't remember exactly what I had written. I started to check my manuscripts but stopped as it seemed the answer to the question was obvious. Gore Vidal mentioned in one of his memoirs that writers tend to forget what they write and are a bad source to ask about their works. Gore knew a lot of writers. I have not and may have been a bit hard on myself. Apart from self-improvement and maybe making a few bucks, my main goal is to bring about a golden age for mankind. Being a man, this sounds appealing. It is pointless to desist and all small measures are worth the effort. Albert Camus thought suicide the only serious philosophical question. He was a fool and died young. Suicide is a waste of time. The most important functional question is: How do I get what I want? The one question that trumps this is the ultimate question of intent: What should I want? As Goethe pointed out: Be careful what you wish for in your youth, you might get it in middle age.

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