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I agree those are huge problems! They don't have anything to do with your proposed solution of conservative fiscal policy though. Government spending isn't the
by bluefishinit 3y ago
I agree those are huge problems! They don't have anything to do with your proposed solution of conservative fiscal policy though. Government spending isn't the issue, corruption and centralization of power is. That we keep ending up with a handful of billionaires who have an insane amount of influence over our society is partially the fault of the government as you point out.
- TimTheTinker 3y ago> Government spending isn't the issue, corruption and centralization of power is. Why not both? I think both are big problems. Is there any time government has cut spending and it ended up making the economy worse by some measure?
- bluefishinit 3y agoThe economy is the problem. It doesn't accurately model externalities that we now know are important (climate change) or that we've always known were issues (inequality). The economy can be doing great and all of that value can be captured by a few people at the top, who then wreak havoc on everyone else. All the while the eco-sphere gets toasted because extracting value from natural resources at an ever increasing pace is also good for the economy. Both the environment and wealth inequality have hit or are very close to hitting the breaking point. My original point about MMT was that we'll need a radically new system to fix the problem. The one we have can't be brought there through the control mechanisms that exist.