Dear Lifeboat Foundation Family & Friends,<\/p>\n
A few months back, my Aunt Charlotte wrote, wondering why I \u2014 a relentless searcher focused upon human evolution and long-term human survival strategy, had chosen to pursue a PhD in economics (Banking & Finance). I recently replied<\/a> that, as it turns out, sound economic theory and global financial stability both play central roles in the quest for long-term human survival. In the fifth and final chapter of my recent Masters thesis, On the Problem of Sustainable Economic Development: A Game-Theoretical Solution<\/em><\/a>, I argued (with considerable passion) that much of the blame for the economic crisis of 2008 (which is, essentially still upon us) may be attributed the adoption of Keynesian economics and the dismissal of the powerful counter-arguments tabled by his great rival, F.A. von Hayek. Despite the fact that they remained friends all the way until the very end, their theories are diametrically opposed at nearly every point. There was, however, at least one central point they agreed upon \u2014 indeed, Hayek was fond of quoting one of Keynes\u2019 most famous maxims: \u201cThe ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else\u201d [1].<\/p>\n