Progressives Have Corrupted Not Only Money, but Its History as Well \ stacker news ~bitcoin

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Progressives Have Corrupted Not Only Money, but Its History as Well mises.org/wire/progressives-have-corrupted-not-only-money-its-history-well

10 sats \ 8 comments \ @Undisciplined 26 Jul 2023 bitcoin

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21 sats \ 4 replies \ @SimpleStacker 27 Jul 2023

I've listened to MMTers explain their ideas, and i came away with the thought that they're somewhat naive. They seem to make a big deal out of the idea that the government can't go bankrupt because they can print their way out of any debt. Ok... well fine, I think most of us already knew that. The constraint is whether people will still trust the currency after that, which they admit but then never address and just move on to talking how to spend the printed money.

21 sats \ 3 replies \ @GhostofTruth 27 Jul 2023

MMT is proof that economy as part of academia is stuck intellectually. To me it is nothing more than another layer of state propaganda to infiltrate the next generation and stabilize the growing state complex. It's pseudo-mathematical approach backs it against the slightest critique from media.

21 sats \ 2 replies \ @SimpleStacker 27 Jul 2023

Academic economists deserve a lot of criticism, but imo this isn't one of them. MMT isn't mainstream at all even within academic economics. They just made a big splash in media because liberals grasp at anything to justify moar gov't spending

21 sats \ 0 replies \ @GhostofTruth 27 Jul 2023

Yes, You're right. It's not mainstream like pure Keynesianism. But it made its way into the White House of the Davos Camarilla. That's something.

35 sats \ 0 replies \ @Undisciplined OP 27 Jul 2023

In present tense you're correct, but MMT needs to be nipped in the bud, if at all possible.

At one point Keynesianism was academically fringe. It caught on not due to its merits, but because it gives intellectual cover to the ruling class. MMT does this to an even greater extent, so there's every reason to expect funding and academic positions will flow its way.