They don't think zero interest rates matter either.
Nothing can be allowed to get in the way of globalization.
More globalization please, to paraphrase Brooks on free trade.
Milestones on the road to The Globalization Trap.
What matters this or that reason to let interest rates fluctuate, resist deficit spending, or oppose free trade?
The imperialist and nationalist mercantilism which had made Europe, and especially England, great in the first place, had meant imperial preferences, monopolies, and later, dumping and technology hoarding, to forestall industrialization in less developed civilizations, or even competition from other European powers.
All were very good policies now gone by the board. The term 'trade', below, did not mean what we now usually mean:
"As General Monck put it with military directness in demanding a renewal of war against the Dutch in 1662: ‘What matters this or that reason? What we want is more of the trade the Dutch now have.’ Trade meant wealth, wealth enabled one to wage war, war made possible yet more trade: who could resist the lure of this logic?”
“The British Way In Warfare: A Reappraisal”, The Causes Of War, Howard, 1983.
What matters this or that reason to let interest rates fluctuate, resist deficit spending, or oppose free trade?
The imperialist and nationalist mercantilism which had made Europe, and especially England, great in the first place, had meant imperial preferences, monopolies, and later, dumping and technology hoarding, to forestall industrialization in less developed civilizations, or even competition from other European powers.
All were very good policies now gone by the board. The term 'trade', below, did not mean what we now usually mean:
"As General Monck put it with military directness in demanding a renewal of war against the Dutch in 1662: ‘What matters this or that reason? What we want is more of the trade the Dutch now have.’ Trade meant wealth, wealth enabled one to wage war, war made possible yet more trade: who could resist the lure of this logic?”
“The British Way In Warfare: A Reappraisal”, The Causes Of War, Howard, 1983.
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