Blog-Reference
The macroeconomic Profit Law entails Public Deficit = Private Profit. Because of this, the one-percenters and their useful academic/journalistic spokespersons should consistently argue FOR deficit-spending/money-creation, and the ninety-nine-percenters and their academic/journalistic spokespersons should consistently argue AGAINST it. It is often just the reverse in the political Circus Maximus.
► Austerity and the idiocy of political economists
► Austerity and the utter scientific ignorance of economists
► Austerity and the total disconnect between economic policy and science
► Austerity and the political games Progressives play
► Austerity: Who takes the little man for a ride?
► MMT Progressives: stupid or corrupt or both?
► The biggest scientific mistake of the last centuries, and it has much to do with academic economists
► MMT: No sound basis
► Keynes, Lerner, MMT, Trump, Biden, and exploding profit
► MMT: Distribution is the drawback NOT Inflation
► Post-Keynesianism vs MMT: a Zombie debate
► Economists: Trolls with a mortarboard
► Stephanie Kelton and the self-destructive stupidity of the super-rich
► Deficit-spending, public debt, and macroeconomic profit/loss
► Swabian housewife vs Wall Street loan shark
► Deficit-spending/Money-creation is ALWAYS a bad deal for WeThePeople
► For details of the big picture see cross-references Political Economics/Stupidity/Corruption
Egmont Kakarot-Handtke
Egmont Kakarot-Handtke
For more on austerity see AXECquery.
Reminder: Government spending can be consumptive or investive. In the elementary production-consumption economy, government spending G is consumptive. The financing of infrastructure etc. is an entirely different matter.
See also Twitter/X Nov 23, 2023
Related 'Keynes, Lerner, MMT, Trump, Biden and exploding profit' and 'Stephanie Kelton and the self-destructive stupidity of the super-rich' and 'MMT ― now official doctrine'.
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Roosevelt Institute Feb 25, 2021 Austerity officially abandoned
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Twitter Mar 3 Here they are, the academic agenda pushers
Twitter Jun 18 Senator John Yarmuth declares the policy switch from austerity to deficit overdrive
Twitter Jan 15, 2023 The last debt limits are phased out
Twitter Feb 7, 2020
Twitter Feb 16, 2023 The rhetoric is austerity, the policy is deficit-spending/money-creation
Twitter/X Nov 23, 2023 Finally, the debt brake aka profit brake is also gone in Germany
