While the Europhile progressives are publishing papers and holding talkfests to discuss their latest EU reform proposals, the on-going reality of the European Union continues to reveal itself – the pretense that there is a rule of law operating – as laid out in the Treaties and the idea that all are equal under that law. When I was researching my 2015 book – Eurozone Dystopia: Groupthink and Denial on a Grand Scale – and over the long period I have studied the concept of European integration it was obvious to me that despite the chimera of a strict, rule-based system that is run by technocrats, the actual practice of the Union is vicariously ad hoc – rules applied in cases where doing otherwise would present ideological problems, abandonment of the rules and outright illegal behaviour when there the interests of the corporate elites are at stake or the existence of the Union is threatened. And while law breaking, relevant officials produce complicated justifications of their behaviour as if what they are doing is within the boundaries specified by the Treaties. The Europhile progressives, meanwhile, continue to hold this embarrassing monstrosity out as the exemplar of freedom, globalism, cosmopolitanism and sophistication. They have reached such a state of denial that what is obvious to those looking in from the outside escapes their attention, or, in the mould of the European technocrats they just ride along with the spurious justifications for the unjustifiable. Europe in 2019….
The Left is hopelessly lost, and that leaves the field to the Right to deal with neoliberalism. I am seeing less on economics and finance per se, and more on the political fight going on among different camps, including those that are promoting the MMT POV as the optimal way to approach policy. While am encouraged by the strides that MMT has made in breaking into the political ring, with the highly competent Stephanie Kelton is public face, the MMT position is as yet far from strong, since it is mostly allied with a Left that is fractured and largely incompetent.
Bill Mitchell – billy blog
The European Union once again reveals why it should be dissolved
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
Bill Mitchell – billy blog
The European Union once again reveals why it should be dissolved
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
1 comment:
Totally schizo ― MMT and policy
Comment on Bill Mitchell on ‘The European Union once again reveals why it should be dissolved’
Bill Mitchell, the MMT loudspeaker, does not get tired claiming that MMT is a scientific lens for seeing economic reality as it is and not a policy: “There is no MMT program!”. All this under the headline “Seize the Means of Production of Currency.”#1 Schizo!
Next he flagellates the ECB and the europhile Left: “Yet, meanwhile, over in Frankfurt, the ECB is merrily funding government deficits ― totally in contravention of the European law, if was properly interpreted by the courts ― and they all turn a blind eye and create loopholes in the rules that allow them to do anything they want. And the Europhile progressives blithely carry on as if a few reforms are all that is needed to make this monstrosity a progressive paradise.”
However, last week he flagellated Mr. Weidmann for declaring that he intends to respect the law that defines the ECB’s mandate: “… we have to ensure that the prohibition of monetary financing is respected.”#2 Schizo!
It is pretty obvious that MMT is NOT a lens for seeing how the economy works but a cover for political agenda pushing. As Tom Hickey reveals: “The Left is hopelessly lost, and that leaves the field to the Right to deal with neoliberalism. I am seeing less on economics and finance per se, and more on the political fight going on among different camps, including those that are promoting the MMT POV as the optimal way to approach policy. While am encouraged by the strides that MMT has made in breaking into the political ring, with the highly competent Stephanie Kelton is public face, the MMT position is as yet far from strong, since it is mostly allied with a Left that is fractured and largely incompetent.”
The problem is that MMT the policy guidance of deficit-spending/money-creation has NO sound scientific foundations#3 and that the “highly competent Stephanie Kelton” and other MMT academics are stupid/corrupt agenda pushers for the Oligarchy.#4 Schizo!
Egmont Kakarot-Handtke
#1 MMT’s true program
https://axecorg.blogspot.com/2019/06/mmts-true-program.html
#2 MMT: The communicative war on budget-balancers
https://axecorg.blogspot.com/2019/06/mmt-communicative-war-on-budget.html
#3 For the full-spectrum refutation of MMT see cross-references MMT
https://axecorg.blogspot.com/2017/07/mmt-cross-references.html
#4 Stephanie Kelton’s legendary Plain-Sight-Ink-Trick
https://axecorg.blogspot.com/2019/01/stephanie-keltons-legendary-plain-sight.html
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