An MMT site bringing you dogma-free economics without the pleadings of self interest
My 5 cents:The core of an economy is in Surplus Circulation, surplus as in “income spent on someone else” like in parents spending on kids, like savings used by someone else trough credit, investing in production or financial assets that will end up enabling someone else to use real product and services, not in Marxist sense since it is nominal surplus.My spending is someone else's income.Spending more money from wealthy is of increasingly marginal benefit to them.In a world where a productivity is such that about 15% of working population can produce for substinance needs of 100% of population, what will other 75% of workers do? Isn’t it good if they can work on providing services that will benefit in less and less visible benefits to individuals as less and less workers are needed to produce substinance products.In an evermore automated production, when robots will take over all production and needed work, what will able bodied people do all days unless they are organised to provide marginal benefits to someone else?Bureaukracy is mostly about organising, not direct production.Money is nominal value, products and services are real value. Circulation of money only enables real value to be used. Surplus circulation is esential to an economy. Providing benefits to anyone who needs it enables others to use real value trough Surplus Circulation.Something of a Marxist paradise enabled by extremely high productivity trough automatisation of production and MMT logic. Subsistance needs are met by robots and are free on a needs basis, and population contributes marginaly to benefits of others. Subsistance needs accounted trough one form of money and other work organised around complimentary (alternative) money.
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