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You only need a "money printer" if you don't have the chutzpah to tax wealthy people and the sources of wealth that the state supports.
by nathan_compton 3y ago
You only need a "money printer" if you don't have the chutzpah to tax wealthy people and the sources of wealth that the state supports.
- armatav 3y agoYes, nation states can totally resist infinite money if they just tax a fraction of the people in their tax base.
- nathan_compton 3y agoNo one ever said anything about infinite money. The basic idea of socialism is that democracy should control some of the allocation of labor and that, because the functions of the nation state are necessary to the health of enterprises and because the fundamental purpose of society is the common good, the state has a right to some of the profits, which go beyond merely taking money from the wealthy. Plenty of nation-states make different trade offs between productivity or growth or whatever and mitigating poverty. To act as if the particular style we have in America is the only possible thing that works is asinine.
- armatav 3y agoNo, democracy and socialism have nothing to do with printing money. You can do either in a hard currency system.