Paul Craig Roberts's blog

A Global House Of Cards

As most Americans, if not the financial media, are aware, Quantitative Easing (a euphemism for printing money) has failed to bring back the US economy.  So why has Japan adopted the policy? 

Since the heavy duty money printing began in 2013, the Japanese yen has fallen 35% against the US dollar, a big cost for a country dependent on energy imports.  Moreover, the Japanese economy has shown no growth in response to the QE stimulus to justify the rising price of imports.

Global Capitalism Has Written Off The Human Race

Economic theory teaches that free price and profit movements ensure that capitalism produces the greatest welfare for the greatest number.  Losses indicate economic activities where costs exceed the value of production, thus investment in these activities is curtailed.  Profits indicate economic activities where the value of output exceeds its cost, thus investment increases.  Prices indicate the relative scarcity and value of inputs and outputs, thus serving to organize production most efficiently.

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