Short exchange with Peter Paik on the economy

October 14, 2018

 

Short exchange with Peter Paik

 

Emanuel Pastreich:

“Most people who had a positive view of capitalism were thinking of the modified and regulated form practiced in the 1950s and 1960s in the US. That was not really capitalism at all, but highly regulated economy deeply influenced by socialist models. This, however, is the real stuff. Enjoy, compliments of the chef!”

 

Peter Y. Paik:

“Don’t forget the central banks.”

 

Emanuel Pastreich:

“Central banks? those playthings of sovereign wealth funds and billionaires?”

 

Peter Y. Paik:

I think they won’t be big enough to paper over the next collapse.”

 

Emanuel Pastreich:

“That is exactly right. And that stuff they circulate will be exactly that: ‘paper.’”

 

Peter Y. Paik:

“We’ll have to find new ways of thinking about what will come after.”

 

Emanuel Pastreich:

“We will have no choice this time.”

 

 

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