Like a beacon, Mason Gaffney has stood for decades above the ruck of world economists, because he dared to express a great truth that offends views held by his profession.
As the world slips into a new economic depression, here are three distinct, but interlinked, examples of Gaffney’s work:-
- 1) Insights into the purposeful corruption of economics at the outset of the 20th century which set in stone periods of recession and depression.
- 2) The manner in which this corruption destroys capital, with Michigan (and California) examples.
- 3) “The Four Vampires of Capital” – an explanation of to where capital disappears (pages 12-17 in the latest “Land & Liberty”).*
The bonus that comes with reading Gaffney’s insightful papers is a brilliant turn of phrase, honed presumably during his time as a journalist with TIME magazine:-
*”There were two leading charlatans: Arthur Laffer Jr and Robert Barro. Laffer drew his famous curve on Dick Cheney’s cocktail napkin in 1974 and changed the course of history ……… Our ‘new’ President Obama has not radically changed the tenor of his economic advisors. Dick Cheney the person has been relegated to Darth Vader emeritus, but the malady lingers on.”
[Don’t miss Mason Gaffney’s new book, “After the Crash”!]