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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Tuesday, December 1, 2020
Does Economic Growth Justify the System - Noam Chomsky
I've been saying this for years, but Noam Chomsky manages it in two sentences.
All public resources go to the rich. The poor, if they can survive in the labor market, fine. Otherwise, they die. That's economics in a nutshell.
That's Third World economics. The rise of the welfare state has altered that equation.
ReplyDeleteWe are a Third World stat now. The Welfare State has been badly eroded for the past 40 years, under both parties.
ReplyDelete