Archive for June 5th, 2013

Quote notes (#3)

Noureddine Krichene at ATol:

There are contrasts and similarities between the extinguished communism of Mao and the rising one of Bernanke-Obama. Both reject Hayek’s theory and the private sector, and believe in a provident state; wealth has to be redistributed equally. Both believe that capital has no remuneration and the interest rate has to be zero.

Nonetheless, there are contrasts between Mao’s Red Book and Bernanke-Obama collectivism. The former called for confiscation of private poverty and forced labor to work with hands and small tools; unemployment was not allowed and workers earned deservedly a share in the product. The Bernanke-Obama model is based on Keynesian economics and calls for creating as much demand as possible through fiscal deficits and money printing.

June 5, 2013admin 34 Comments »
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