The central lesson of the COVID-19 fiscal response is that money is not scarce. Without delay, governments around the world appropriated budgets that dwarfed any other postwar crisis policy. In 2020, Japan passed a stimulus package equal to 54.8 percent of GDP, while in the U.S., it was equivalent to 26.9 percent and in Canada to 20.1 percent. Italy, France, and Germany spent 10.1, 10.4, and 10.7 percent of GDP, respectively (Dziedzicki et al. 2021).…
Download file at link.
EDI Resources Database
WP 01 Pavlina R. Tcherneva Three Lessons from Government Spending and the Post-Pandemic Recovery
Pavlina R. Tcherneva. Bard College and Economic Democracy Initiative
WP 01 Pavlina R. Tcherneva Three Lessons from Government Spending and the Post-Pandemic Recovery
Pavlina R. Tcherneva. Bard College and Economic Democracy Initiative
https://edi.bard.edu/research/notes/details/?id=984&prefurl=wp-01-tcherneva-three-lessons-from-government-spending-and-the-post-pandemic-recovery
16 comments:
The retort will be that money wasn't scarce in the Weimar Republic either.
There was so much money, they needed wheelbarrows to haul it around...
Exactly Peter.
The social media battle has been won already.
The magic money tree caused the inflation.
It is a walk in the park to lead the voters by the nose to make them believe their very own confirmation bias. A confirmation bias that has been constructed on a very strong foundation of lies over a 50 year period.
Big nudges are no longer needed. A few coordinated tiny nudges is all that is required.
Absolutely nothing is going to change. Geopolitics and foreign policy demands that the status quo remains.
If you can hypnotise the sheep to fly Ukrainian flags in their gardens it is very easy to potty train them to keep taking the toilet on their own doorsteps time and time again.
The right are a bunch of gold bugs who haven't changed their world view since the 12th century.
Think tax cuts and bank lending and free trade are the messiah and will fix everything. No matter how many times they have been tried and failed miserably.
This is why I don't believe in hope, Foot.
“ foundation of lies over a 50 year period.”
It’s not lying if you believe it.,..
I think what is more amazing is how you guys think all of this is a “vast neoliberal conspiracy!”… with zero evidence..,
How hard is it to simply observe that this is what these people were taught and are accordingly believing to be true…
If people were taught that the Earth was flat, how long would you give them a pass?
I’m not giving them a pass I’m just explaining what is really happening… no conspiracy theories…
According to all these Art Degree people all the people who thought the earth was flat were lying…
Unless they have a mental illness, they are lying.
As Grandmaster Goebbels advised: tell the lie over and over again.
That's not a conspiracy, that's a method that works!
They are simply advocating for their thesis … vs any other… Socrates 101…
This is what they have been trained to do…
As Grandmaster Goebbels advised: tell the lie over and over again.
Goebbels was actually talking about the Brits, who, by the way, are still up to the same thing, which is obvious if one is paying attention:
"The English follow the principle that when one lies, one should lie big, and stick to it. They keep up their lies, even at the risk of looking ridiculous."
http://www.goebbels.info/goebbels-goebbels.htm
They are simply advocating for their thesis … vs any other… Socrates 101…
Time for them to drink hemlock.
Goebbels was actually talking about the Brits,...
Perfidious Albion?
"Perfidious Albion" is a pejorative phrase used within the context of international relations diplomacy to refer to acts of diplomatic slights, duplicity, treachery and hence infidelity (with respect to perceived promises made to or alliances formed with other nation states) by monarchs or governments of the United Kingdom (or England prior to 1707) in their pursuit of self-interest.
Perfidious signifies one who does not keep his faith or word (from the Latin word perfidia), while Albion is an ancient and now poetic name for Great Britain.
It was being used in regard to Brexit.
In contrast, the editor of the Financial Times, Lionel Barber, has written that "Too many people in the UK are under the illusion that most European countries cannot wait to see the back of perfidious Albion."
Here also being used by the Brits:
British MP Mark Francois said to the Bruges Group in April 2019: "My message to the European Council ... If you now try to hold on to us against our will, you will be facing Perfidious Albion on speed.
source: Perfidious Albion
For some reason, my comment mocking Boris Johnson won't post.
"The English follow the principle that when one lies, one should lie big, and stick to it. They keep up their lies, even at the risk of looking ridiculous."
That is the lessen Boris learned at Eton.
Pretense has as many layers as you want.
Post a Comment