…which is Debt, Loan and For Production Only, and has gone on unaltered for over 5000 years.
Posted To A Steve Keen YouTube video on Austrian economics:
The Austrians have some good insights, but fall into terminal orthodoxy. Their valid insights however do not penetrate to the deepest problem of modern economies namely the curious, glaringly obvious and, in an allegedly free market competitive economy, the contradictory monopolistic monetary paradigms of Debt, Loan and For Production ONLY. These have gone on for over 5000 years and so are the least innovative and most stagnant aspects of the economy.