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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Blasher who wrote (17989)	3/18/2016 1:47:50 PM
From: Chip McVickar	Read Replies (1) of 33421

Joseph Schumpeter is another individual worth dragging out of history and equal to the task and now forgotten. He taught at Harvard until 1950 en.wikipedia.org What Smith - Schumpeter - Toynbee have in common are a respect for the singular individual within the ebbing tides of economic history. They champion the individuals economic autonomous rights... not the states ownership or overall right to tax it away. Smiths work must have played a part in the thought processes in the founding fathers of this country. All 3 found structures of economic cycles that were inevitable and could only be mitigated but never reversed. The modern influences of Austrian and Keynesian economists -- who I'm sure read their work -- said 'Oh No... we can change the outcome...' by intervention with socialist, political and economic processing. In a real sense we're living during a time to have both enjoyed the Keynesian interventionist policies, and also we do not yet know if they are to be proven correct... So we might be watching the undoing of their polices through debt leveraging and taxation burdens. Smith - Schumpeter - Toynbee may yet be proven correct --- 'cycles exist that cannot be altered'... Only by understanding which cycle you are living with will give the individual a chance to survive. Chip

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