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We are an absurdly dichotomous civilization.  Communism falls, so capitalism must be absolutely right.  This is even more extreme: Keynes doesn't model for stagflation, therefore Friedman is right.  Of course he was using a money model that was laughably 19th-Century and was ignoring the reality that oil price increases were simultaneously increasing the cost inputs of everything while destroying the last pillar supporting the US's post-war economic advantage, thus causing both rising prices and falling demand, but what the heck.  Miltie was painting a version of reality that was exactly what the Ueberklass wanted.
by rifek on Sun Jan 19th, 2014 at 10:38:53 PM EST
We are an absurdly dichotomous civilization.

That is a consequence of information flow being dominated by the  preferred propaganda of the incumbent wealth holders. If large numbers of people begin seeing through this manipulation they respond with fear inducing distraction.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Jan 21st, 2014 at 07:41:50 PM EST
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Black and white is an easy picture to paint.
by rifek on Wed Jan 22nd, 2014 at 07:12:29 PM EST
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