Sublime

At some stage, you run out of suckers to buy government debt. What is certain is we will only see more efforts at financial oppression, but we will see increasing attempts to monetize deficits and reduce the future value of liabilities through inflation. It will not be pretty.

He had no patience for reformers who, unlike Belle Moskowitz, didn’t understand the importance of practical politics in getting things done, who refused to compromise, who insisted on having the bill as it was written, who raged loudly at injustice, who fought single-mindedly for an unattainable ideal.

Mestmäcker retient de Schmitt la nécessité d’assumer la nature explicitement politique du projet néolibéral de dépolitisation de l’économie. Il est soutenu dans cette position par un autre néolibéral de la deuxième génération, Erich Hoppmann.

He feared that the higher ideals of the Enlightenment were “irretrievably lost” and that only the imperative of “economic compulsion” would prevail.

l’indétrônable inspirateur du courant de l’éducation nouvelle

Third, this constant and pointless demand for financialization will create political and business opportunities to better facilitate it.

“[G]overnments believe that … when there is a choice between an unpopular tax and a very popular expenditure, there is a way out for them—the way toward inflation. This illustrates the problem of going away from the gold standard.” —Ludwig von Mises