Timmy elsewhereMay 23, 2013 Tim WorstallTimmy Elsewhere4 CommentsAt the ASI. More on that capitalism thing. previousClimate Change Committee loonsnextThese things always happen when I\’m away 4 thoughts on “Timmy elsewhere” Ian B May 23, 2013 at 4:25 pm Isn’t it time we all dropped this pseudo-pyschological codswallop about “propensities” and the marginals thereof? There ain’t no such thing; and, no, “rich folks are more likely to invest than poor folks” isn’t the same thing at all. In other news- <a href="http://www.telegraph.co.uk/finance/business-news-markets-live/10075184/Business-news-and-markets-live.html"US markets fall as better-than-expected jobs numbers raise prospect of QE being pulled as Fed banker moves to reassure investors that central bank is "not that close" to winding down stimulus. All those red blooded independent capitalists are panicking because the free money from the State might dry up. Ian B May 23, 2013 at 4:31 pm Having mucked up me HTML- We are left with one of these mysterious questions. If we want consumption to rise, and to do that we want the plebs to have more money, which they can then spend and the tycoons get it and use it to invest and, you know, growth, why not just print greenbacks and helicopter them into the economy via govt. spending? Why instead lend money to bankers who just buy bonds with it instead of lending it to the plebs who can’t afford to borrow it anyway, and thus who can’t raise consumption? What’s the cunning plan here? DBC Reed May 24, 2013 at 3:53 pm “Assuming no rent seeking…” You what? You are saying “In a perfect world everything would be kinda ..perfect.” Given that rent seeking is built into capitalism, the problem is whether it can be fixed and leave behind anything recognisably capitalist. Seeing capitalists think the system is just wonderful ,despite evidence to the contrary on all sides, it would appear next to impossible to reform. Your responses undermine capitalism more effectively than Chang’s. Ian B May 25, 2013 at 12:17 pm Rent seeking isn’t built into capitalism. It’s built into State Capitalism. There is a difference. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.