Keynes Vs Hayek, Without the Rap

[billc]

A video of someone on the sharp edge of the economy:

http://www.breitbart.tv/small-businesswomans-epic-rant-against-obamas-disastrous-economic-policies/

 

[elder999]

Thomas Malthus, the Victorian clergyman whose work, 'An Essay on the Principle of Population', forecast that soon the population would outstrip food supply. His philosophy regarding population became known as 'Malthusianism'. But was there any truth in his predictions and what impact did his essay have at the time? [/COLOR]

In spite of his faulty math, Malthus was believed by much of the world, up to the end of the 19th century and right into the early 20th. What made him temporarily irrelevant, and appear to be incorrect, was the advent of machine-produced free nitrogen. With abundant fertilizer and soil amendment available, worldwde food production grew along with population-in fact, even today there is no reason for anyone on the planet to starve to death-though there soon will be, as I'll demonstrate. It's worth pointing out first, though, that the development of free nitrogen also led to increases ien explosive production and machines of war, as well as the advent of big agro-business, yet another case of controlling means of capital and production, and one which the likes of Con-Agra are attempting to solidify.

in any case, the production of free nitrogen, as well as big agribusiness, are bound body and soul to oil production.As oil becomes more scarce, food will not only continue to become more expensive, but it will also become more difficult to produce and distribute at levels that support the world's population. On another front, water is going to continue to become equally scarce, a development anticipated by big business.In Bolivia, Bechtel has made it illegal for people to collect rainwater.

A corporation has made it a stealing to take water that falls from the sky.

Similar laws have been passed in the U.S., though in most places it is still legal to collect rain that falls onto your domicile's roof. Not so a parking lot or water that would otherwise fall onto the ground. Wonder why? It's died off for the time being, but all it will take is another bird flu epidemic, and legislation that was almost passed to control animal populations will make it nearly impossible for someone like me to keep goats or chickens or a dairy cow. Genetic manipulation of common food crops, and laws that support their being patented, have already doomed a few farmer's crops due to cross-pollination. The farmers illegally possessed the wayward DNA, and their crops were seized.

We live in a world of diminishing resources. For the time being, population growth seems to be leveling off, but couple the diminishing resources with global climate change," throw in the dwiindling bee population that so many crops-commercial and otherwise-depend upon, and throw in a couple of Katrina/Fukashima level disasters, and a large dose of corporate control of those dwindling resources, and you have a recipe for Malthusian times.

 

[Makalakumu]

Didn't Keynsianism turn London into Watts?

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