Not oil, jews, republicans, nor even greed.
It Was Keynes' model they implemented but they had to do it!
It was the Great Depression - after WWI and just before WWII. They were
facing a complete economic meltdown. Keynes devised an emergency economic
model with a, "built in propensity for growth". The choices were; end
short-term suffering and introduce an unsustainable model, or over much
time, suffering and risk of collapse, allow the system to correct itself.
The choice was clear and took considerable bravery on the part of those
who
adapted the model since they could have only imagined what the results
would
be. They had to take the short-term strategy to ensure the system remained
viable, knowing full well it would cause it's own long-term destruction.
It
took great faith since they knew they were unleashing a potentially deadly
virus. They must have postulated that we would be able to devise and
implement an exit strategy before we destroyed ourselves or the
environment
or both.
"Keynes was advocating measures in a scenario of mass unemployment and
widespread suffering amidst the social classes of societies around the
world. While hundreds of socialites and politicians viewed the Great
Depression, as well as the inability to restore confidence in markets, as
the failure of capitalism on a broad base, Keynes viewed it as a narrow
trouble brought about by technical problems, a "magneto trouble", as he
wrote in 1930[1]. In fact, Keynes' view was that something was needed to
step in the breach caused by the deficiency of demand; writing that "no
obvious case is made out for a system of State Socialism which would
embrace
most of the economic life of the community." [2] Keynes argued that much
less intrusive government expenditure policies could ensure adequate
effective demand, allowing the market economy to go on as before. Unlike
the
Communists who believed in a full takover of the means of production by
government, Keynes advocated a lesser degree of state control over the
means
of production." - The General Theory of Employment, Interest and Money;
J.M
Keynes (1936)
http://en.wikipedia.org/wiki/The_General_Theory_of_Employment%2C_Interest%2C_and_Money#Overview
The good news is, it's a simple correction. Nothing needs to cease and the
economy won't collapse but it may take some time to stabilize. The
question
becomes, is there enough time to implement the solution and allow the cure
to take effect? At times like this I wish I were an economist, then again,
perhaps not - that answer may be difficult to accept.
The Case for "Diverse Harmonic Balance" is made at:
http://groups.google.com/group/soc.men/browse_thread/thread/508cce085a05b84a/7e812a9b703b052c#7e812a9b703b052c
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