An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, May 2, 2018
Zero Hedge — China Warns Trump "We Will Outlast You" As US "Significantly Escalates" Trade War
The Sino-American "trade war" — economic warfare by another name — seems to be escalating. China is showing no signs of backing down.
Trade wars are a symptom of the unjust distribution of ASSETS; i.e. who needs a job mining, creating, growing or selling real wealth to foreigners when one does not desperately need a job in the first place?
Trade wars are a symptom of the unjust distribution of ASSETS; i.e. who needs a job mining, creating, growing or selling real wealth to foreigners when one does not desperately need a job in the first place?
ReplyDeleteGood critique of JG from Rodger Mitchell: https://mythfighter.com/2018/05/02/the-mmt-jobs-guarantee-con-job/
ReplyDeleteIf people are hired only because they need jobs, rather than because the job needs people, what prevents them from being make-work? Rodger Mitchell
ReplyDeleteNails it!
But not just make-work - negative work since otherwise useful time is destroyed.
But that's the point, isn't it? To destroy time? Similar to milk-dumping in the 1930's to raise milk prices?
Sure let's have generous infrastructure spending but on bulldozers, not JG workers with spoons.