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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (91033)10/1/2007 5:39:12 PM
From: neolibRead Replies (1) of 306849
 
How is saving accomplished on your desert island economy?

Any property with tangible value is savings. But that is part of my question as well. One needs to show all of the aspects of an economic system, how they arise from various needs, and how we tweak our systems to better make it serve those needs.

Remember, that the value of gold is also variable, not just in relation to fait money. Shocks to the system can have unexpected results. Having a stack of gold in your house can either save your life or cause your death under certain circumstances such as war. During famines, the price of gold deflates vs. the price of food, etc. It is difficult to come up with an ideal money which is independent of system shocks.

I also appreciate your observation that the irresponsibility of Monetarism is currently wildly more popular than responsible economic behavior.

My own background is control systems engineering so I like looking at dynamic systems from an input/output relationship. I think Keynes made some insightful observations, but the one big one he left out was that every politician thinks the present is the optimal time to prime the economic pump, while the future is much better suited as the time to pay it back. Of course, most consumers think the same way.
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