Replying to Avatar j

“Modern schools of economics do not teach the reality of economics as the study of human action, which results in their adherents being incapable of understanding the hard work, sacrifice, and risk needed for anyone to become a capital owner. This inability to understand cause and effect leads to imagining capital as some sort of heavenly privilege bestowed upon a particular race of people. You either belong to that race or you do not. There is little appreciation or understanding of the actions necessary to accumulate capital and hold on to it successfully, and as a result, many people waste their time, and the fruit of their labor, complaining bitterly about capital, rather than working to acquire it and raise their productivity and living standards. This economic ignorance is the wind in the sails of demagogue politicians who exploit it to achieve power and use it to expropriate capital owners.”

Principles Of Economics by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak

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Toby McMann 2y ago

100%. This misunderstanding also leads to a mind-numbing misallocation of people's time. The irony is Keynsian economics relies on the concept of efficiency. But when you think about all the time spent learning this flawed theory by professors and students, and then all the wasted time spent by economists and central bankers trying to study and apply it, followed by the time individuals and corporations spend trying to do the same, and all the journalistic time and energy spent reporting on it daily, globally, it is a true shame that our lives on this planet are so distorted, with time spent chasing false dreams. And when you see the light, and know others in power must know it too, you realized the theory has become a system of control. The ruling class benefits from this societal inefficiency and wants you to waste your time.

This sad reality is the hope of technology like #Bitcoin and #Nostr -- they are platforms of truth, allowing people the opportunity to release the shackles and enjoy the real world. Pura Vida describes it well. Very grateful. 🙏

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