“Free lunch strategies have a habit of self-destructing. The Swiss economist Eugene Boehler had the context of such false and unsustainable images in mind when he noted that the 'modern economy is as much a dream factory as Hollywood.' It is based only a small part on real needs, and for the greatest part on fantasy and myth, he claimed. The stock exchange, far from ruling economic life, is at the mercy of tides of collective make-believe. Depressions come about when there is a loss of economic myth - (Eugene Boehler 'Der Mythus in der Wirtschaft,' Industrielle Organization, XXXI, 1962.)”

I think this agrees with what I was saying yesterday about confidence etcetera. While there are scams and theives it is not the major cause, the cause is confidence or lack thereof. What the mind can conceive it can create, if we see happy days, happy days will come to us.

Life is not about producing widgets it's about widgets producing life.

Depressions come about when a Government decides to create a new deal (socialism) in answer to a recession.

robkenSRQ are you suggesting that we can live free and easy at hands of robots?

One must ask, who wants a "free lunch" or any free service for that matter? One must feel that the strategy of "free lunch" is born from the manipulator who really has the intent to control and therefore we run the arranged bureaucratic gauntlet in hoping not to be snatched or snagged.  Socialism is the challenge of social abilities to create a just societal arrangement.

I'm not exactly sure how to rate this as most of it is fairly accurate. Free lunch strategies are baseless concepts outside nature's law. Socialism (with or without Keynesian Economics) is another economic system outside nature's law and antithetical to individual sovereignty, inalienable rights, liberty and the principles of true wealth building. When the natural failings of socialism and the free lunch are combined poverty, destruction and violence are speed up.