"Money Is Dope!" Shackle as hip-hop poet

By -
"Money is dope, a tranquilizer against the effects of not knowing what to do. Money is what saves you from having to make up your mind what to buy.

"Liquidity is, in some sense and degree, a substitute for knowledge." -- quoted in Earl and Littleboy, p. 35

Comments

  1. Keshav Srinivasan1:42 AM

    Perhaps I'm missing something, but isn't this an unalloyed good thing? Isn't it good if people face fewer difficult tradeoffs in decision-making?

    ReplyDelete
    Replies
    1. gcallah2:02 AM

      Well, Shackle was certainly not "anti-money"! But "unalloyed": we usually face trade-offs. And I think Shackle here would have said that now we can have recessions!

      Delete

Post a Comment

Popular posts from this blog

Libertarians, My Libertarians!

By -
Cruel to be kind means that I love you . Because, while I think you are mistaken, your hearts are in the right place -- yes, even you, Silas --  unlike some people . This Breitbart fellow (discussed in the link above), by all appearances, deliberately doctored a video of Shirley Sherrod to make her remarks appear virulently racist, when they had, in fact, the opposite import. I heard that at a recent Austrian conference, some folks were talking about "Callahan's conservative turn." While that description is not entirely inaccurate, I must say that a lot of these people who today call themselves conservative give me the heebie-jeebies.
Read more

"Pre-Galilean" Foolishness

By -
 I am currently reading The Master and His Emissary , which appears to be an excellent book. ("Appears" because I don't know the neuroscience literature well enough to say for sure, yet.) But then on page 186 I find: "Asking cognition, however, to give a perspective on the relationship between cognition and affect is like asking astronomer in the pre-Galilean geocentric world, whether, in his opinion, the sun moves round the earth of the earth around the sun. To ask a question alone would be enough to label one as mad." OK, this is garbage. First of all, it should be pre-Copernican, not pre-Galilean. But much worse is that people have seriously been considering heliocentrism for many centuries before Copernicus. Aristarchus had proposed a heliocentric model in the 4th-century BC. It had generally been considered wrong, but not "mad." (And wrong for scientific reasons: Why, for instance, did we not observe stellar parallax?) And when Copernicus propose
Read more