Re: Uncertainty and Liquidity Preference

[Bob Williams <williams@xxxxxxxxxxxxxxxx>]

paul davidson wrote:

> I am describing how the real entreprenurial economy in which we lve
> operates and not some airy-fairy Marxian utopia.

So you believe and say, but not everyone is convinced even by your
prolific musings.


> I think questions about the ultimate source of value are philosophical
> conundrums similar to how many fairies can dance on the head of a pin.  The
> answer to such conundrums may keep many philosophers employed but the
> answer does not help the working class one iota.

And the above is probably why you miss the point of the import of these
theories of value on which the rest of the intellectual sytem is built.
This system surely doesn't adhere to a socialist theory of value and to
say so
ican only be short sighted at best ... at worst it invites ignorance and
emotionalism.


> Understanding how
> money operates in the world we live in can help us design policies that
> improve the lot of the workers and all residents of a civilized society.
> (See G. Davidson and P. Davidson, ECONOMICS FOR A CIVILIZED SOCIETY, 1996,
> Revised edition).

It's nice of you to refer to yourself (which seems like self promotion
without the necessary link) but for myself and
I suspect others of my own temperment it would be more helpful if you
reiterated your
views within the context of the discussion.

Bob Williams