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[...] A successful Siren Server no longer acts only as a player within a larger system. Instead it becomes a central planner. This makes it stupid, like a central planner in a communist regime.

Keynes was an unapologetic financial elitist and had no interest in a quest for income equality or a planned economy. He simply sought a mechanism to get stuck markets unstuck. No one has proposed an alternative to his idea of a stimulus. The enduring nuisance is that someone has to guess about exa…

This is the Laffer curve, which was promoted by one late 20th century president, Ronald Reagan, and ridiculed by another, George H. W. Bush, as "voodoo economics."