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Text of the page (random words):
ortable with it if i was one of them but in the words quoted above biden says people are worried about their jobs about taking care of their families about what comes next these are economic concerns you re not going to solve our economic problems be being unified you need a plan more than that you need some version of the right plan you can only solve our economic problems if you understand what s causing them and if you shut down the problem at the source for the record the federal debt isn t the problem it s a consequence of the problem it will be easy to keep the federal debt in check if we solve the real problem which is the rest of the debt debt other tha n federal it s the private sector that needs to grow so it s private sector debt that has to be reduced by hook or by crook most especially by policy we just need a little creativity look at it this way they make laws that encourage borrowing but they don t make laws that encourage repayment of debt so debt accumulates that s the problem that must be fixed what you thought the problem that created the financial crisis was solved again biden few periods in our nation s history have been more challenging or difficult than the one we re in now not sure how long a period of time biden has in mind when he says the one we re in now short probably since 6 january the last four years perhaps surely not decades we d be lucky if it s only decades ian hall writes of arnold j toynbee the modern west he believed was past its genesis and growth phases and was now in breakdown indeed it was now in a time of troubles from which only a resurgence of creativity could liberate it not sure about this i m no expert on toynbee but it occurs to me to wonder if perhaps the time of troubles of our civilization is the whole of the capitalism phase of the cycle of civilization the timing is right toynbee argues that our own time of troubles began during the eighteenth century enlightenment ian hall writes the most obvious symptom of a time of troubles is persistent unlimited war the kind of war that threatened the existence of the civilization world wars nuclear weapons chemical weapons biological warfare ian hall on the time of troubles the causes of this development toynbee argued were many and varied first there was a palpable loss of creativity of the ability to respond to new challenges loss of the ability to respond to new challenges our inability to solve perennial and long term problems such as economic depression and the decline of growth second he observed that each civilization had seen a schism between the dominant minority and the internal proletariat came to a head on the sixth of january didn t it turns out trump s people are the internal proletariat third he noted the presence in each case of an external proletariat of barbarians or foreigners from a different civilization which threatened the civilization from beyond its walls osama bin laden and iran and all that and the islamic civilization last toynbee detected a schism in the soul of each civilization which led to such social evils as a longing for a lost past or an unattainable future a loss of individual or collective self control a rise in truancy and martyrdom a tendency to fatalism and an upsurge in cultural sartorial linguistic and sexual promiscuity a longing for a lost past perhaps like make america great again as for the rest you probably know better than i at january 26 2021 no comments email this blogthis share to x share to facebook share to pinterest labels arnold j toynbee civilization monday march 25 2019 they lacked both writing and city life from page 81 in the evolution of civilizations pdf 425 pages by carroll quigley leaving aside for the moment the two civilizations found in the new world we can arrange the fourteen old world civilizations into a pattern to show their chief cultural connections many other connections which we do not show on the diagram exist in fact and can be inserted by the cognizant reader it is to be noted that four of the early civilizations are cultural descendants of the neolithic garden cultures which were not themselves civilizations since they lacked both writing and city life i liked quigley s diagram immediately as it reminds me of toynbee s work but the diagram made it to the blog today because the paragraph is incomplete without it and the paragraph made it to the blog because it tells a way to distinguish civilizations from more rudimentary forms of human society civilizations have writing and cities writing and cities two thoughts on cities from let s go surfing now the cycle of civilization is a cycle in the dispersion and concentration of wealth the inequality that troubles piketty and the pope is evidence of that cycle the growth and decay of cities and nation states is evidence of that cycle the saucer shaped pattern traced by interest rates during the course of ancient civilizations is evidence of that cycle and from civilization civilization may be seen in the rise and fall of cities but it is measured in the rise and fall of the standard of value as far as writing goes my impression is that writing first developed as a way to keep track of business transactions financial obligations inventory and such these thoughts suggest that both writing and cities have economic ties to civilization and that is related to the idea that the cycle of civilization is a business cycle which is driven by the concentration and dispersion of wealth at march 25 2019 2 comments email this blogthis share to x share to facebook share to pinterest labels civilization older posts home subscribe to posts atom why economists must think in terms of the cycle of civilization i ve been hearing the phrase late capitalism for so long that i m forced to conclude that the very concept of late cap looks like vigor to me went to harbor freight the other day when i left there was so much traffic i had to fight my way out of the parking lot at one p m on let s see if this one gets me into trouble as i write this it is mid october in an even numbered year elections are weeks away yesterday i saw republican candidates heavily adver not the rate of interest but the cost of finance not inflation but the decline of growth it is surely true that the price level cannot rise without a corresponding increase in the quantity of money or velocity or use of credit the most important difference between cost push and demand pull inflation i m not a fan of diagrams in economics but sometimes this is a screen capture of slide 36 from a slideshare presentatio federal debt is the measure of economic troubles in the private sector not the cause of them the cause is excessive private sector debt private debt is too big and too costly it slows the economy it slows income growth it makes decent jobs scarce we lost our greatness to excessive private sector debt we can regain american greatness by reducing private debt if we do so before china has all the greatness note that we have many policies to encourage the use of credit and no policies to encourage repayment of debt selected fred data free ebooks forever fadedpage levy institute publications art s old vigor page click folder tab to view contents quick quotes on debt sbt hover for the quote click for the source steve keen sbe thomas palley sbe palley again same source sbe arthurian spontaneous sbe arthurian sbe id a j toynbee a study of history unabridged vol 1 page 1 abridgement vol 1 thru 10 id mostly old cost push stuff 1937 the general theory of employment 1958 the phillips curve paper 1959 charles schultze recent inflation in the united states 1960 richard lipsey on the phillips curve 1960 samuelson and solow problem of achieving and maintaining a stable price level 1962 arthur okun potential gdp its measurement and significance 1968 friedman s presidential address the role of monetary policy or alt link 1970 milton friedman the counter revolution in monetary theory 1974 f a hayek prize lecture the pretense of knowledge 1977 thomas m humphrey on cost push theories of inflation in the pre war monetary literature id papers by johannes a schwarzer sbt samuelson and solow on the phillips curve and the menu of choice a retrospective 2013 sbe growth as an objective of economic policy in the early 1960s the role of aggregate demand 2014 sbe price stability versus full employment the phillips curve dilemma reconsidered 2016 sbe retrospectives cost push and demand pull inflation milton friedman and the cruel dilemma 2018 sbe id papers by norikazu takami 1950s cost push sbt baffling inflation cost push inflation theories in the late 1950s united states 2014 sbe the baffling new inflation how cost push inflation theories influenced policy debate in the late 1950s united states 2015 sbe id archive org links sbt archive org home sbe note at archive org the upper right corner search is for all of archive org to search the open book click the search icon on the left side of the window and use quotes around search phrases sbe historical statistics thru 1970 part 1 arrighi g the long twentieth century dalio r economic principles how the economic machine works delong h a profile of mathematical logic r c k ensor england 1870 1914 finley m i the ancient economy friedman m free to choose friedman m money mischief kissinger h the meaning of history reflections on spengler toynbee and kant leuchtenburg w franklin d roosevelt and the new deal leuchtenburg w the perils of prosperity lot ferdinand the end of the ancient world and the beginnings of the middle ages montagu a toynbee and history critical essays and reviews mullineux a w business cycles and financial crises quigley the evolution of civilizations rostovtzeff the social and economic history of the roman empire terborgh george the new economics tooke thomas an inquiry into the currency principle toynbee aj a study of history volumes i vi abridged wanniski jude the way the world works sbe id timelines industrial capitalism sbe mercantile capitalism sbe 10000 years of economy sbe id blog themes and on the pedestal these words appear my name is ozymandias king of kings look on my works ye mighty and despair nothing beside remains shelley toynbee maintained that the fate of civilizations is determined by their response to the challenges facing them stefan zenker the ideas of economists and political philosophers both when they are right and when they are wrong are more powerful than is commonly understood indeed the world is ruled by little else j m keynes economic policy encourages credit use and discourages the repayment of debt that s how we in the private sector got so indebted nathan becker attempts to describe complex interactions in the economy with overly simple adages can lead to incorrect conclusions meyer and tasci i remarked that a plurality of suffrages is no guarantee of truth where it is at all of difficult discovery as in such cases it is much more likely that it will be found by one than by many descartes i have thought it important not only to explain my own point of view but also to show in what respects it departs from the prevailing theory j m keynes blogthemes blog archive 2025 136 october 4 and debt forgiveness was biden s plan hume on the arbitrary power of tyrannical government hume quoted by keynes last chapter first sentence september 19 august 12 july 6 june 10 may 11 april 23 march 19 february 11 january 21 2024 100 december 15 november 9 october 14 september 10 august 7 july 12 june 7 may 3 march 13 february 7 january 3 2023 118 december 6 november 15 october 8 september 8 august 4 july 3 june 16 may 15 april 12 march 8 february 12 january 11 2022 159 december 22 november 17 october 13 september 6 august 4 july 9 june 12 may 4 april 11 march 22 february 15 january 24 2021 204 december 8 november 21 october 15 september 17 august 11 july 13 june 22 may 19 april 17 march 22 february 18 january 21 2020 139 december 20 november 20 october 8 september 11 august 13 july 8 may 2 april 18 march 16 february 19 january 4 2019 202 december 9 november 13 october 18 september 15 august 16 july 20 june 18 may 15 april 27 march 25 february 12 january 14 2018 202 december 12 november 13 october 20 september 11 august 8 july 8 june 19 may 20 april 30 march 31 february 30 labels gothedistance 1966 3 inflation target 400k smoothing an alternative to the wage push inflation thesis apr13 arnold j toynbee attitude brooks adams civilization and decay calculating labor share civilization cmz cost pressure and the decline of civilization cycle of civilization debt and inequality debt ceiling 2023 debt service before 1980 debt to gdp companion economic concerns drive political action economic decline as the source of polarization equilibrium excessive finance fall of rome fallacy of composition finance before 1960 financial cost push financial cost push in the 1950s financialization in the 19th century fix the economy google s ai overview and units household debt in the long run we are all dead income inequality industrial productivity july 2021 keynes on civilization labor share levels labor share of personal income little piggies making use of the cycle of civ math ulc measuring profits milton fried man more debt than money is policy n2r nobody says this stuff but me but that doesn t make it wrong not falsifiable on average productivity profit v interest prosperity quigley evolution of civ real to real debt to gdp s s 1960 secular cycles slow growth terms of the times the 2021 inflation panic the continuing cost problem the cost push problem the end of life as we know it the plan the trump depression they think like bankers throwback too much opinion and not enough econ whack a mole what is political economy whelan s guide report abuse home search this blog this work is licensed under a creative commons attribution noncommercial noderivatives 4 0 international license for reference armstrongeconomics on ancient interest rates michael hudson on ancient interest rates schmelzing 700 years of real interest rates schmelzing the suprasecular stagnation schmelzing eight centuries of global real interest rates commentary on the long trend of interest rates and schmelzing s work at the daily reckoning when did sustained growth start europe s rise to riches voxeu harbingers of modernity monetary injections and european economic growth 1492 1790 from convergence to divergence portuguese economic growth 1527 1850 religious change preceded economic change in the 20th century economics of medieval guilds with links taking malthus seriously helps to explain the economic stagnation from the dark ages to the industrial revolution andy blunden s home page on ancient rome ancient rome s collapse is written into arctic ice at the atlantic via reddit also via reddit the ups downs of ancient rome s economy all 1 900 years at open culture see links at end of article capitalism without classes the case of classical rome rome during the l...