It follows from what has been said that a “shortage” of money with the state is not a technical shortage. Thus, it is never the lack of “money” that causes the state to be unable to spend, but always the lack of resources that causes the state to be unable to get what it wants. Money moves resources. If there are no resources, nothing is moved. However, if resources are the monopolist of money — the government with its central bank — can move it even when the political will is there. This applies to wars, but also to social programmes. The state can always afford to pay money to the poor or create employment for the unemployed. It is always a question of political will....Monetary Policy Institute Blog #106
Yes, we can afford democracy — and it should be up to voters to decide what a government should do
Dirk Ehnts, Torrens University, Australia, adjunct lecturer
Dirk Ehnts, Torrens University, Australia, adjunct lecturer
6 comments:
“Money moves resources.”
False. Humans move resources. Likewise Covid didn’t destroy businesses. Politicians did that with their lockdowns. Covid didn't do anything.
“The state can always afford to pay money to the poor or create employment for the unemployed. It is always a question of political will.”
Correct, but this contradicts the assertion that “money moves resources.”
“If we as voters are no longer allowed to decide on the budget, i.e. on the government’s spending, what is left of the word ‘democracy’?”
Genuine democracy is not possible with any group larger than a factory or a very small town. Robert Owen (1771-1885) discovered this through a long process of trial and error with textile mills he owned. Democracy, cooperatives, and socialist structures only work in small groups.
“ The state can always afford to pay money to the poor ”
Has just been shown to create Art degree figure of speech “inflation”…
You’d have to make sure that another policy was simultaneously put in place to prevent this.., tax cuts to producers, etc..
How China Became the World's Biggest Debt Collector | Vantage with Palki Sharma
https://youtu.be/09iQ3AHNAkE
Hopefully they aren't borrowing in a foreign currency!
"Think of how stupid the average person is and realize half of them are stupider than that." ~George Carlin
"Think of how peaceful the average person is and realize half of them are more peaceable than that." ~ Steven Pinker's ghost writer
snork
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