Epstein Secrets

duced from retained earnings within companies. For many economists, somewhat oddly, this will be seen as a serious flaw. Since at least the time of Keynes, investment and saving have been at the heart of macroeconomic modelling, and this is true of neo-classical and other heterodox modelling, not just

with capitalism is puzzling. As an aside, this may explain the common emergence of civilisation in river valleys that run through deserts; such as Mesopotamia and Egypt. What these areas have in common is good fertile land, but land that is limited in supply. If there is a bad year, a farmer with excess f

tire world was pulled into the fire. “In the autumn of 1919, in which I write, we are at the dead season of our fortunes,” the economist John Maynard Keynes wrote after the Paris Peace Conference settled The Great War, dimly aware that an even deader season lay somewhere in the future in the form of anoth

d, nomadic societies into a tight, enduring and largely effective authoritarianism. Wittfogel argued that the “irrigation societies” of Egypt, China, Mesopotamia, and South America all reflected this link between survival and water control. Power pooled in the hands of what he called a “Hydraulic Bureaucracy”.

ooking back on his formative years, before Europe was ground up in the First World War, the powerfully brilliant and sensitive economist John Maynard Keynes bitterly recalled the iron certainty of his set of friends and their confident, diffident arrogance: “We were not aware that civilization was a thin

(and disastrous) Paris Peace Conference of 1919. “Lloyd George, to my delight, had forgotten my presence,” Toynbee wrote, “and began to think aloud. ‘Mesopotamia...yes...oil...irrigation...we must have Mesopotamia; Palestine...yes... the Holy Land... Zionism... we must have Palestine...; Syria... h’m... what i