Here’s the good news: Anything that is technically feasible is financially affordable. And it won’t be a drag on the economy ― unlike the climate crisis itself, which will cause tens of billions of dollars worth of damage to American homes, communities and infrastructure each year. A Green New Deal will actually help the economy by stimulating productivity, job growth and consumer spending, as government spending has often done. (You don’t have to go back to the original New Deal for evidence of that.)
In fact, a Green New Deal can create good-paying jobs while redressing economic and environmental inequities. One policy vision, by the progressive think tank Data for Progress, is based on a foundation of equity and justice. It proposes a transition to a low-carbon economy using clean and renewable energy, the restoration of forests and wetlands, and the build-up of resilience in both rural and urban communities....
Once we understand that money is a legal and social tool, no longer beholden to the false scarcity of the gold standard, we can focus on what matters most: the best use of natural and human resources to meet current social needs and to sustainably increase our productive capacity to improve living standards for future generations....The greatest burden we are passing on to future generations is not the debt but our failure to respond to the climate crisis. We must move beyond the fatalism about paying for a Green New Deal so we can get to the conversation that matters most: How can a Green New Deal protect our finite natural resources, end the climate crisis and build the 21st century economy that works for everyone?Huffington Post
That’s the only conversation the American people should be willing to have....
We Can Pay For A Green New Deal
Stephanie Kelton, Andres Bernal, and Greg Carlock, Guest Writers
MMT: If you’ve got a problem, I don’t care what it is, let me help
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Stephanie Kelton again jumps the ship. The day before yesterday she promised a pony for every American, yesterday she promised to care for the unemployed, poor, vulnerable, elderly, and the debt-laden students, today she vigorously promotes Alexandria Ocasio-Cortez’s Green New Deal.
Stephanie Kelton and the MMTers have good news for everybody: “Anything that is technically feasible is financially affordable. And it won’t be a drag on the economy ― unlike the climate crisis itself, which will cause tens of billions of dollars worth of damage to American homes, communities and infrastructure each year. A Green New Deal will actually help the economy by stimulating productivity, job growth and consumer spending, as government spending has often done.”
How does MMT solve any social/economic problem? By deficit-spending/money-creation.#1 Does this work? Yes, as long as the government can increase public debt. At present, nobody can say where the limit is. MMTers claim that there is none.
As a matter of principle, all these social/environmental programs can be realized either with a balanced budget or with deficit-spending/money-creation. This is known to governments and economists since time immemorial. However, the MMTers unique selling proposition is that the one and only right way is deficit-spending/money-creation.
This, of course, is NOT true. The point is that deficit-spending/money-creation does NOT help WeThePeople as a whole in real terms but only WeTheOligarchy.#2, #3 MMTers are NOT the real friends-of-the-people. Just the opposite, they try to hijack genuine grassroots movements.#4
Basically, the political agenda of MMT is pushing public deficits. The economic rationale lies in the macroeconomic Profit Law which boils down to Public Deficit = Private Profit. From the macroeconomic standpoint, it does NOT MATTER AT ALL whether the deficit is caused by war spending, social spending, or environmental spending. From a marketing standpoint, though, it matters a lot. Military deficit spending does NOT go down so well with the general public but social/environmental spending does.
With the sudden rise of Alexandria Ocasio-Cortez’s new environmental populism and the eclipse of Bernie Sander’s old social populism, agile MMTers like Stephanie Kelton have to jump ship and to sell Wall Streets’s deficit-spending agenda in the updated bluff package of a Green New Deal.#5
Egmont Kakarot-Handtke
#1 How MMT makes everybody happy
https://axecorg.blogspot.com/2018/11/how-mmt-makes-everybody-happy.html
#2 MMT, money printing, stealth taxation, and redistribution
http://axecorg.blogspot.com/2017/11/mmt-money-printing-stealth-taxation-and.html
#3 MMT is ALWAYS a bad deal for the 99-percenters
https://axecorg.blogspot.com/2017/12/mmt-is-always-bad-deal-for-ninety-nine.html
#4 MMT and grassroots movements
https://axecorg.blogspot.com/2018/01/mmt-and-grassroots-movements.html
#5 Stephanie Kelton’s legendary Plain-Sight-Ink-Trick
https://axecorg.blogspot.com/2019/01/stephanie-keltons-legendary-plain-sight.html
Don't feed the troll.
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