2 ms·
You don't need to nationalize anything(1). Property rights are important. We just have to realize that society is the issuer of currency and can just spend whe
by RobertoG 11y ago
You don't need to nationalize anything(1). Property rights are important.
We just have to realize that society is the issuer of currency and can just spend when necessary.
One of the big debates of the 21th century should be the nature of fiat money. Money is now a social construct (2). Money is infrastructure and it's all that society need to advance common goals (3).
(1) except maybe monopolistic public utilities
(2)http://www.nakedcapitalism.com/2013/03/what-is-modern-monetary-theory-or-mmt.html http://www.nakedcapitalism.com/2013/03/what-is-modern-moneta...).
(3)http://www.nakedcapitalism.com/2015/01/bill-mitchell-demystifying-modern-monetary-theory.html http://www.nakedcapitalism.com/2015/01/bill-mitchell-demysti...
- wpietri 11y agoFew think property rights aren't important. But it's a relatively small number of people who think they're more important than anything else. Property rights fundamentalists, like all fundamentalists, have the emotional benefit of experiencing low cognitive dissonance. But if inequality keeps increasing, they're going to be very surprised when they discover that when push comes to shove, most people value other things over property rights.