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Sunday May 20th 2018Tim
Candler9
Very tempted to
explore recent reflections on Demand Side Economic
Theory that's beginning to find a path into the rainbow
of our elites. The theory is brave because it suggests
that government cannot run out of money. The criticism
has so far been that governments who spend prolifically
pretty much guarantee a destructive inflation, which
means we're
all looking to replace wallets with wheelbarrows. The
response to this criticism is that monetary policy,
interest rates and so on, rather than the gold standard, are
the more flexible mechanisms to
control inflation. Of the gurus in this brave new
Keynesian world, the canoeing enthusiast Stephanie Kelton
is renowned for her assertion, "Money doesn't grow on
rich people."
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The reason
that branch of the disgustingly wealthy who aren't dumb,
who don't openly practice eugenics, who understand
productivity and the challenges of technology to the
common man, find this iteration of demand side economics
appealing is that if accurate, then to ease the burden
of living for the rest of us and by so doing prevent us
from roaming the streets looking for wide eyed,
troll-like
saviors to return us to the 19th century there will be
no requirement to raise taxes on the absurdly rich. As
well, there's the crassness of the Political Class for
whom a path to power is to manipulate the ideas of often
un-saintly Economists to
either promote social change or put an end to it. Have
to wonder when it might be time to go boldly
again.
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