Agreed. I am also at the libertarian/Constitutional Conservative end of the spectrum, and want the government to (mostly) get out of my life. The past three years of creeping socialist authoritarianism has horrified me. And the ‘new economics’ of Modern Monetary Theory - are they insane? That’s the economic equivalent of a perpetual moti…
Agreed. I am also at the libertarian/Constitutional Conservative end of the spectrum, and want the government to (mostly) get out of my life. The past three years of creeping socialist authoritarianism has horrified me. And the ‘new economics’ of Modern Monetary Theory - are they insane? That’s the economic equivalent of a perpetual motion machine; you can’t produce real wealth without actual productivity!
Agreed. I am also at the libertarian/Constitutional Conservative end of the spectrum, and want the government to (mostly) get out of my life. The past three years of creeping socialist authoritarianism has horrified me. And the ‘new economics’ of Modern Monetary Theory - are they insane? That’s the economic equivalent of a perpetual motion machine; you can’t produce real wealth without actual productivity!
Every economist since Karl Marx thought he was sharper than Adam Smith, and every one of them has been totally wrong.
The key thesis in Wealth of Nations was that a nation's wealth was the productive labor of its people. That was true in 1776 and it is true today.
Which means, yes, the MMT crowd is insane.