Conservative economics based upon magic, cruelty, fatalism and greed
19/06/2009 § Leave a comment
In conservative theory all things magically balance out. If real estate prices get too high, then they correct in a natural cycle. Eventually, all false value is removed; buyers lose equity and investors will lose too. So gains and losses exactly equal. The just invisible hand of Adam Smith creates equilibrium; the invisible hand of this invisible god corrects all. This god is all knowing, all powerful. All works out in a completely spontaneous process. Yes, in life you must worry, but in economics we have a great exception to life because here some unknown god is in control. Whereas in your own life or in education or coaching your child’s soccer team or cooking a holiday dinner there is no god to make things work out automatically. Finally, we have a realm of our lives where all is easy and free of worry! What a relief!