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 Post subject: Economic Theory
PostPosted: Mon Jan 04, 2021 6:40 pm 
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Joined: Sun Jan 24, 2010 3:47 am
Posts: 5192
Can't recommend the first three podcast episodes enough. MMT theory.

Government creates money, taxes destroy money. The idea that the government needs taxes to run seems on the surface to make sense, but if you think way back to the beginning, it would have been impossible for a government to originally tax first and spend money second. They had to have created money first, spent it, then taxed it last. That order means taxes are not necessary for the government to run. The only constraint is inflation, if the government spends too much and employment is completely full then goods and services hyper inflate. So their job is to create full employment without spending anything beyond that and creating hyper inflation, which means only at that point do they need to tax. Or they can tax things that are seen as a negative to society, tobacco, alcohol, excessive inheritance, carbon consumption etc.

https://pileusmmt.libsyn.com/

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 Post subject: Re: Economic Theory
PostPosted: Tue Jan 05, 2021 12:36 am 
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Joined: Tue Oct 21, 2008 1:15 pm
Posts: 1996
Thank's Kyle. I'm really enjoying this.

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 Post subject: Re: Economic Theory
PostPosted: Tue Jan 26, 2021 10:10 pm 
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Joined: Sun Jan 24, 2010 3:47 am
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Not sure how far you've gotten Skip or Jay but I really like the podcasts with John T Harvey.

Here is an article by him where he explains why economics as a profession is highly problematic and why they did not see the financial crisis of 2008 coming. Worth the read.

https://evonomics.com/blame-economics-d ... hn-harvey/

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 Post subject: Re: Economic Theory
PostPosted: Wed Jan 27, 2021 3:09 pm 
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The Bird is the Word, yet the Word ≥ the Bird

Joined: Thu Oct 23, 2008 1:40 pm
Posts: 3076
I listened to a couple with John T. Harvey. Very interesting perspectives.


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