This blog connects to the AXEC Project which applies a superior method of economic analysis. The following comments have been posted on selected blogs as catalysts for the ongoing Paradigm Shift. The comments are brought together here for information. The full debates are directly accessible via the Blog-References. Scrap the lot and start again―that is what a Paradigm Shift is all about. Time to make economics a science.
December 2, 2020
MMT works just fine (for the Oligarchy)
Comment on Editor on ‘U.S. billionaires and the pandemic’*
The macroeconomic 3-sector ProfitLawQ≡(G−T)+(I−S)+Yd implies Public Deficit = Private Profit, meaning that the MMT policy of deficit-spending/money-creation is a free lunch for the Oligarchy.#1, #2
The COV19-triggered acceleration of deficit-spending/money-creation will result in the biggest profit explosion ever. Thus, COV19 is a godsend for the Oligarchy. Politically, this is old stuff in a new package.#3