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February 10, 2009



The several trillion dollar question you pointed out is, how will we pay for it.

You said...But he forgot to tell us how to pay the bills in the meantime.

If only governments had listened to Mises, Hayek and Rothbard. But I guess it's easier to dismiss them as ideologues.

But alas, politics usually trumps everything.


At the end of the day, humans have to eat, have to sustain their earthly reqirements for life.
Machines will have no use for history, and maybe even humans.
But machines have no initiative, aspiration, desire, or emotion or drive to succeed.
These are human attributes.
As for Keynes, better left buried.

Erasmus Folly

@ C. Lowe

Really, that is your response?

With even an iota of imaginative effort, you can see beyond what you just described. It is we who will imbue these machines with purpose - our purpose. Whether we maintain control or not is another question, but it will happen. Our laziness will ensure that it does.

Keynes buried? He is the only one who will save us from this current mess. Please read 'Economic Consequences of the Peace', so that you can understand just how powerful his mind and his ability to predict events was. He understood all too well the abstract world that finance people live in and their myopic view of the world around them. His warning was dire at the Treaty of Versailles. He warned that the greed of the Wall Street and London financiers would lead to world depression and the collapse of the German economy. He warned of a totalitarian response from Germany. All his warnings were unheeded and WW2 erupted 20 years later.

You shouldn't dismiss brilliance because it disagrees with your ideology. One should always respect brilliance and try to learn from it where one can. Therein lies the key difference between ideologues and open minded people.

Keynes has much to teach still, as does Milton Friedman. You take the best from both... from all.

larry smith

Guys, this was not an ideological argument. It was a feature article pulling together two interesting strands of thought that focus on the same horizon...in the context of today's gloom and doom.

Erasmus Folly

Sorry, I had to anecdote. The comment made by C. Lowe to your article was pointless and the little extra added flippant attack on Keynes was indefensible.


Declare your name sir, and I will address your point.
I do not box with shadows.

Erasmus Folly

@ C. Lowe

Due to the possibility of political victimization in the Bahamas and my desire to post contentious and strong critical points about Bahamian affairs, I decided some time ago to assume a pseudonym when posting here. Pardon my shadow pugilism, but it will remain so. Polemical posts on issues like the police force, governance, corruption, economic structure, tax reform and other such matters are not something I would like myself or people I know to have to suffer for. I believe strongly that this country needs MAJOR reform. Sadly, the culture here is not dynamic and not excited for change.

We celebrate independence every year, but we are more and more dependent on the outside world with each year. Take the matter of foreign reserves. I would venture a guess that 1 of every 2 US dollars that comes into this country leaves almost immediately to finance our car/oil/electricity trifecta clusterf%^$. If we could get serious about staving off the need for such massive imports of cars and oil for transportation and energy, we could boost our foreign reserves tremendously, thus reducing the need for top heavy taxation and increasing business opportunities. Sunshine is a resource we own.

I have no intention of brushing against powerfully entrenched interests and rocking that boat publicly, because I know how this island works, hence the pseudonym. I have every intention to continue to critically share ideas though. Awareness is the beginning of action and too many Bahamians sit and mind numbingly blissful ignorance, while their politicians laugh all the way to the bank and do nothing to change or better the country. The PLP is a useless dead horse and the FNM is only marginally better. I want to be able to say that statement without fear of reprisal.

My comments, nevertheless, are ideas that stand for themselves and I am happy to debate them as such.

Larry wrote a very clever and informative article, as he always does and your comments seemed almost a dismissal of his points without much justification being offered. I am sure, if you reread Larry's article and use a little imagination, you can see the benefit/threat that AI and the dawning of the 'singularity' represent. As with any tool, the tool itself isn't good or evil - it is the use. A hammer can crack a skull or build a house. AI will be like that. It is how we use it and what we do with it, that will determine its fate.

As to Keynes, he was a brilliant mind and I find any flippant dismissal of a brilliant mind reprehensible - especially if no justification is offered and no sense of the person's true immersion in the ideas being flippantly dismissed is forthcoming.

I mean no offense. My attack was not ad hominem, but on the ideas presented. Identity is not the issue.

Best regards to you,

Erasmus Folly


Hi all,

Keynes was as much of a fortune teller as he was a historian.

Fact of the matter is, civilization, has been doing just that--advancing.

You don't need Keynes, as much as I respect his body of work, to tell you that it will come a day.

But, in any event, on a separate but equal and far more important topic, we need Keynesianism today like we needed it before.



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