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> The various state could just support people for the period of the lockdown Isn't that just hiding the truth though? After all, what is the state, where does

> The various state could just support people for the period of the lockdown Isn't that just hiding the truth though? After all, what is the state, where does it get the funds? Whether you take my money today or tomorrow, you've still taken my money. I don't see any reason to believe that there will be a magical no-tax funding of government any time soon.

incompatible 7y ago
It's not really about money. Money is just bits of paper, or electronic equivalents, that can be produced in arbitrary quantities. It's about having sufficient production of food and other necessities to keep people alive, ensuring that it's distributed to everybody, and finding enough people who are willing to do enough work to keep the economy going at this level.
- luckylion 7y ago
  Right, obviously when I say money, I don't mean "paper", I mean the equivalent value that we represent by using money. We're generating a lot less value today, while spending as if we didn't. Suggestions for the state to pay people their usual salary while locked down for the next months/years do require some idea of how to pay for it (again: with value, not with paper). Magic aside, how will that happen?
  - JackFr 7y ago
    Exactly. The estimated $25 billion dollars a day the lockdown is costing the economy is real economic output not a balance in a ledger.
- PeterStuer 7y ago
  What percentage of the 'working population' do you estimate is involved in necessities as opposed to conspicuous consumption, superfluous intermediating, red queen standoffs, speculation, empire building and active or collateral sabotage?
bildung 7y ago
Most countries currently get loans for about zero or actual negative interest - while inflation is above zero. States can essentially borrow for more than free: Get loans for a billion, wait 10 years at 2% inflation and it's only 800M worth. Meanwhile the state used the loan to keep up demand and thus state income, commercial infrastructure and so on. This is almost guaranteed to be the least expensive way to go for every OECD country.
deleted 7y ago
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incompatible 7y ago

It's not really about money. Money is just bits of paper, or electronic equivalents, that can be produced in arbitrary quantities. It's about having sufficient production of food and other necessities to keep people alive, ensuring that it's distributed to everybody, and finding enough people who are willing to do enough work to keep the economy going at this level.

luckylion 7y ago
Right, obviously when I say money, I don't mean "paper", I mean the equivalent value that we represent by using money. We're generating a lot less value today, while spending as if we didn't. Suggestions for the state to pay people their usual salary while locked down for the next months/years do require some idea of how to pay for it (again: with value, not with paper). Magic aside, how will that happen?
- JackFr 7y ago
  Exactly. The estimated $25 billion dollars a day the lockdown is costing the economy is real economic output not a balance in a ledger.
PeterStuer 7y ago
What percentage of the 'working population' do you estimate is involved in necessities as opposed to conspicuous consumption, superfluous intermediating, red queen standoffs, speculation, empire building and active or collateral sabotage?

bildung 7y ago

Most countries currently get loans for about zero or actual negative interest - while inflation is above zero. States can essentially borrow for more than free: Get loans for a billion, wait 10 years at 2% inflation and it's only 800M worth. Meanwhile the state used the loan to keep up demand and thus state income, commercial infrastructure and so on. This is almost guaranteed to be the least expensive way to go for every OECD country.

deleted 7y ago

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