Re: Krugman on the Deflation quagmire

[Warren Mosler <mosler@xxxxxxxxxxxxxx>]

And it's difficult to come to any other logical
conclusion.

warren
--- Esteban Perez <eperez@xxxxxxxxxxxx> wrote:
> Keynes called the  "socialization of investment",
> meaning not
> that the State should own the means of production
> but rather the government
> should use all sort of "devices by which public
> authority will cooperate with
> private initiatives" to increase the productive
> facilities that are the
> backbone of our economy ¯ even if this means running
> perpetual deficit capital
> account spending.
>
¯--------------------------------------------------------------------
> Is it "should use all sort of devices" or "need not
> exclude...devices"?. After all in Vol XXVII, Keynes
> was more explicit and called for two-thirds to 3/4
> of total investment in the economy to be influenced
> by public or semi-public bodies guided by private
> exchange. In Vol. XXI there is always the national
> investment board as a possibe socialization of
> investment and in his proposal for a Clearing Union
> (Second draft) there is the international investment
> board Vol. XXV p.60. It's more than just
> cooperation.
>
> E. Perez
> and stated
>
>
>


=====
Warren Mosler, www.mosler.org
c/o James River Capital Corp
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Primary email contact:  mosler@xxxxxxxxxxxxxx

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