After more than four decades of dominance, free market capitalism is facing a challenge.
Its rival, the blandly named modern monetary theory (MMT), has entered the ring promising to return economic planning to a less ideological footing....
Pretty good summary presentation of the kerfuffle between MMT and conventional economics.
ABC News (AU)
Modern monetary theory is gaining traction. But can it knock out free market capitalism?
Antony Funnell for Future Tense
Modern monetary theory is gaining traction. But can it knock out free market capitalism?
Antony Funnell for Future Tense
The answer is no.
ReplyDeleteWe don't presently have and haven't had for the past four decades "free market capitalism". We've had cleptocratic Keynesianism based upon computer generated fiat funny money which facilitates wealth transfers from average people to the elite and which results in the boom bust cycle like what happened in 2008.
ReplyDeleteYou've been crowing for years that we are no longer on the "gold standard" and that we live in simply mah-velous regime of "modern money", fiat funny money. It's obvious that you guys know you are lying and you know that you cannot win an argument without fraudulently mislabeling almost everything. Pitiful.
That should have been "KLEPTOcratic Keynesianism.
ReplyDeleteklep·toc·ra·cy (klĕp-tŏk′rə-sē)
n. pl. klep·toc·ra·cies
A government characterized by rampant greed and corruption.
[Greek kleptein, to steal + -cracy.]
klep′to·crat′ (-tə-krăt′) n.
klep′to·crat′ic adj.
Clepsydratic Keynesiansism works for everyone. Drip, drip, drip...
ReplyDeleteWhere you come from, is that considered an argument?
DeleteIt's considered a pun.
ReplyDeleteWhere you come from, is rhetoric considered an argument?
That, by the way, is a rhetorical question.