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Re-reading section I - C at your link reaffirms just why it was so essential for the Tycoons of the late 19th century to spare no expense in creating an alternate economic theory in the terms of which what George was saying would be incomprehensible. J.D. Rockefeller was right in saying that his contributions to what became The University of Chicago were the best investment he ever made. It was the investment, along with that made by Morgan in Columbia, etc. that propagated a form of economics that was completely non-threatening to the wealthy, no matter how feeble its analytic and predictive power. And Gaffney's work is a quarter of a century old.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Feb 28th, 2013 at 04:57:12 PM EST
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we bin 'ad, mate... that's the long and the short of it.


'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty
by melo (melometa4(at)gmail.com) on Thu Feb 28th, 2013 at 07:01:00 PM EST
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Got an political-economy focused on taking wealth from the producers of wealth to give to parasites and an academic discipline built to obscure the nub of the issue, as the Schalkenbach Foundation puts it:

In today's troubled economy, too many people are unemployed, most have to work hard just to make ends meet, and a few monopolize the lion's share of the benefits.


She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Sat Mar 2nd, 2013 at 06:41:02 PM EST
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