Occupy Wall Street: The problem is not the end of the industrial age, the problem is a lack of aggregate demand. We have a lack of aggregate demand because finance is mismanaged, both at the industrial level (“Finance industry”) and at the Governmental level (“deficit spending” and “financial regulation”). The reason that finance is systemically mismanaged is because the academic paradigm of finance is simply wrong. Economics professors are not good at accounting, they consider it beneath them, so they simply do not know that their macroeconomic models do not follow double-entry bookkeeping and are therefore wrong.
Accountants don’t notice that macroeconomics is wrong because they imaginationless grinds.
[Right or wrong Zimran never pulls punches.]