[PEN-L:31517] Re: To Christian/ Keen on road to debt deflation/ Irrationality and all that

[Charles Jannuzi <b_rieux@xxxxxxxxx>]

--- "Devine, James" <jdevine@xxxxxxx> wrote:
>>This is very sketchy. But (1) the real world is
a non-equilibrium process; but (2) there has to
be some balance in the economy for it to grow in
the long term (as seen in the harmony
conditions).<<

I would turn it on its head to see what we get:
the real world is in some sort of equilibrium
(but which our discourse and abilities to
represent can never fully capture); a 'growth
economy' is not in equilibrium, since it is but a
developmental economics fantasy.

C. Jannuzi



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