"A balanced organic view" exhibiting the sort of interconnectedness characteristic of the relations of the parts of living organisms to the whole. Organic and balanced like a city which has grown and evolved over a long time to meet the needs of the people who actually live there - as opposed to a stark and startling Brasilia created according the the new theories of an urban planner.
Things which are not true are exciting in the way that only false things can be. Someone says they can transport themselves from Los Angeles to Paris simply by meditating in a certain special way. On the surface it's laughable, but if you allow yourself to believe it, its intoxicating, it makes your pulse race. How could this have been over-looked for all this time. You have catapulted yourself above the realm of ordinary life. What a thrill.
On the other hand, things that are true - tend to be ordinary, a wonderful insight, progress, adaptation, but not thrilling.
John Law, and those with recycled John Law concepts, can create breath-taking efficiencies and incredible growth in wealth - except reality re-imposes itself and the false illusion falls to dust.
No matter how you socially construct an economic system, money must be both a means of exchange and a store of wealth or the system disintegrates into a system of barter. When money is not a store of value, it becomes a hot potato that no one wants - the Old Maid card in the game of Hearts. Capitalism, by definition, is not possible in a John Law world where money cannot be used to store value.
Henry Thornton, in his 1802 book "An Enquiry into the Nature and Effects of the Paper Credit of Great Britain" points out that an increase in credit does not create additional money, as our Fed mistakenly reports using sophisticated sounding names like M3. Additional credit merely increases the velocity of circulation. Charles Rist in his 1932 book "History of Monetary and Credit Theory from John Law to the Present Day" points out the many inefficiencies and disasters which occur when credit and money become confused as if they were the same thing.
These ideas which every economist knows have evolved over a long period of time, just as John Law's opposing ideas have. The difference is that every time someone plants John Law seeds they get on-going problems followed by disaster.
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