You will only be able to understand the fiat economics taught at fiat universities when you realize it's not an intelligent or honest intellectual pursuit, but an elaborate post hoc rationalization to arrive at the predetermined conclusion of "printing money is good".
If you read a Keynesian textbook trying to make sense of it, you'll get lost in laughably dumb reasoning.
If you read it as the work of slimy con artists trying to arrive at the predetermined answer of "printing money good", it all makes perfect sense.
If you read it as the work of slimy con artists trying to arrive at the predetermined answer of "printing money good", it all makes perfect sense.
What kind of idiot would begin their analysis by assuming unemployment is a function of the level of aggregate spending?
Anyone whose day job is to find reasons & justifications for government printing money & handing it out to cronies.
Anyone whose day job is to find reasons & justifications for government printing money & handing it out to cronies.
And THAT is why all fiat economists are incapable of producing a single useful coherent thought on bitcoin. They never think logically or honestly try to understand reality. They're just conmen trying to fit everything into their pre-planned sales pitch of "money printing good".
You can replace all fiat economists with a simple algorithm for analyzing X, where X is any economic issue:
If X calls for more money printing -> make favorable noises
If X calls for less money printing -> make unfavorable noises
That's it. That's what the PhD training is for
If X calls for more money printing -> make favorable noises
If X calls for less money printing -> make unfavorable noises
That's it. That's what the PhD training is for
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