> There is no delivery system. And often
> there is no translation system. so the govt has to use very crude
> messages (concealed as market messages), like put up interest rates on
> mortgages and (mortgage-paying) people will stop buying stuff therefore
> inflation will come down. Put up interest rates on 90-day bills and
> businesses will stop borrowing - employment and wages will come down.
>
> There is a 'they'. The market is an illusion. We have not yet cut off
> the king's head.
>
> Cheers,
> Nesta
To say that messages are crude or ambiguous is hardly to say that they
are non-existent. In some sense the Great Depression constituted a
uniform and powerful message to large classes of people. To deny
macro-events of this sort of their reality is surely to diminish our
power to conduct any sort of social analysis. We marginalize ourselves
and ensure our irrelevance. How does this differ from fatalism? Perhaps
the king will get a good laugh while his head stays firmly in place.
> there is no translation system. so the govt has to use very crude
> messages (concealed as market messages), like put up interest rates on
> mortgages and (mortgage-paying) people will stop buying stuff therefore
> inflation will come down. Put up interest rates on 90-day bills and
> businesses will stop borrowing - employment and wages will come down.
>
> There is a 'they'. The market is an illusion. We have not yet cut off
> the king's head.
>
> Cheers,
> Nesta
To say that messages are crude or ambiguous is hardly to say that they
are non-existent. In some sense the Great Depression constituted a
uniform and powerful message to large classes of people. To deny
macro-events of this sort of their reality is surely to diminish our
power to conduct any sort of social analysis. We marginalize ourselves
and ensure our irrelevance. How does this differ from fatalism? Perhaps
the king will get a good laugh while his head stays firmly in place.