Friday, October 09, 2009

Comments Moderation Stays ON

A series of attacks on Lost Legacy from foreign repetitive language trolls and mischief-makers forced me to introduce the Blogger feature of Comments Moderation.

These have continued intermittently since (the latest, a couple of hours ago). I am therefore compelled to leave Comment Moderation on.


As I tend to visit Lost Legacy regularly when I am in the house (and when connected abroad), there should not be a long delay for genuine readers wishing to make a point or two. Though, I notice the number of comments from readers has dropped away. This too is disappointing and I hope it is soon reversed.

Let me have your views.




Blogger The Arthurian said...

It's your blog, sir, and your duty to clear the cobwebs from the corners and the dust moozies from the floor. If Comment Moderation helps you with those tasks, so be it.

As long as you're soliciting opinions, I want to say it is amazing how many times you raise the same objection to the same misrepresentation of Adam Smith's work. It is an objection worth raising. I stop by often to read it.

On a different matter: Recently (7 October, re Corporate Governance) you quoted Smith using the word "effectual."

I have always equated Smith's "effectual demand" with Keynes' "effective demand," both being that demand which calls forth output. I'd like to know whether this is reasonably accurate and I'd like to read your thoughts on these phrases.

Moderate this!

11:24 pm  
Blogger Gavin Kennedy said...

Hi Arthurian

Thank you for your kind comments.

Modereration is not on to censor comments, friendly or critical. I have never censored a criticial comment and never will.

Lost Legacy is under the daily attention of sources posting entirely in Chinese, sometimes repeating sequences of the same Chinese characters, sometimes different sequences. As I do not know if they are saying anything sensible or that is non-libelous or non-offensive, I have applied Moderation to weed them out.

I welcome criticism within the normal bounds of scholarship and good taste. Humourous snipes are also acceptable; hurtful, racist,
'humour' is not acceptable, though I am not "PC" at all - I often wonder whose 'politics' we are supposed to be 'correct' about and where, when, and by whom, they were decided?

Yes, I would agree that Smith's "effectual" demand was picked up by others, including Keynes, as "effective demand". The determinant in both is demand backed by ability to pay.

Many more people would "demand" Rolls Royces if their prices were well below their profitable production than currently available and within reach of their available money (plus credit).

The consequence is that many potential customers exceed those whose demand is effectual/ effective in terms of profitable production capabilities.


6:58 am  
Blogger The Arthurian said...

Yessir, a Rolls Royce. Or -- in Smith's time -- "a carriage and six."

I want to thank you for responding to my inquiry. It's uncommon.... I just like to verify things. To misquote Keynes: It is remarkable what foolish things one can temporarily believe when one thinks too long alone!


10:49 pm  

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