Tuesday, June 11, 2019

More Myth

From Bill's dialectic latest Tom links to down-thread; more myth introduced here as if on cue:

MMT not only threatens vested neoliberal interests in politics but also challenges the hegemony of mainstream macroeconomists who have been able to dominate the policy debate for decades using a series of linked myths about how the fiat monetary system operates and the capacities of currency-issuing governments within such a system. MMT exposes these myths.

What he appears to be doing is instead of using literal language to try to correct these UK Labor morons, he is introducing more of the figurative i.e. describing the reification error as instead a complex system of Myths/Mythology.

Trying to simply re-designate what are pretty serious reification errors being made by these Labor morons as a "series of myths!"... like that is going to correct the situation...

Employing more of the figurative to try to correct somebody not understanding the figurative doesn't work.

Then he has to throw in the obligatory MMT figurative "point on a scoreboard!" analogy of course:

Saying otherwise is as stupid as saying that a football game has to stop 3 minutes into the second-half because the scoreboard has run out of points to post!

Which hasn't worked for 20 years and won't work here either...

He will not be successful in correcting these people; though I guess that may not be his goal.. in any case those people are not going to be corrected by any of this...