tag:blogger.com,1999:blog-4900303239154048192.post9190842902819354257..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Paying for Health Care Over TimeUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4900303239154048192.post-56105399197238375822018-02-21T02:11:51.000-05:002018-02-21T02:11:51.000-05:00Deficits matter for distribution
The essential po...Deficits matter for distribution<br /><br />The essential point about deficit spending/public debt is this: the axiomatically correct macroeconomic Profit Law is given as Q=Yd+(I−S)+(G−T)+(X−M) which reduces to Q=G−T for Yd, I, S, X, M=0. The simplified equation says that the profit of the business sector Q is equal to the deficit G−T of the public sector. It holds Public Deficit = Private Profit.<br /><br />So, from the standpoint of simple self-interest, the one-percenters and their useful academic/journalistic spokespersons should consistently argue FOR deficit spending#1 and the ninety-nine-percenters and their academic/journalistic spokespersons should consistently argue AGAINST it. Curiously, just the OPPOSITE happens. So, either economists are stupid and do not know how the economy works or they are complicit in a communicative charade.<br /><br />The main argument against the MMT championship of deficit spending ― inflation ― is beside the point because it rests on a false inflation theory.#2<br /><br />The correct argument against deficit spending is that it is NOT in the interest of the ninety-nine-percenters and that it produces the distribution of income/wealth that everybody considers now as real danger for society/democracy.#3<br /><br />The fact of the matter is that ― because Public Deficit = Private Profit ― the one-percenters have achieved their goal hands down by simply letting scientifically incompetent spokespersons of the ninety-nine-percenters like Paul Krugman or Stephanie Kelton brilliantly perform their roles as useful idiots by busily convincing people of Warren Mosler’s joyful message Public-Deficits-Are-Good-For-You.<br /><br />Egmont Kakarot-Handtke<br /><br />#1 Keynes, Lerner, MMT, Trump and exploding profit<br />https://axecorg.blogspot.de/2017/12/keynes-lerner-mmt-trump-and-exploding.html<br /><br />#2 MMT was right all along: Gov-Deficits do NOT cause inflation<br />https://axecorg.blogspot.de/2017/10/mmt-was-always-right-gov-deficits-do.html<br /><br /># 3 MMT is ALWAYS a bad deal for the 99-percenters<br />http://axecorg.blogspot.de/2017/12/mmt-is-always-bad-deal-for-ninety-nine.htmlAXEC / E.K-Hhttps://www.blogger.com/profile/10402274109039114416noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-37818217145951139012018-02-21T01:51:45.975-05:002018-02-21T01:51:45.975-05:00I recognize that the OP wanders off to further pur...I recognize that the OP wanders off to further pursue health care costs and Baumol, but I found myself hung up with that Simon Wren-Lewis quotation. I clicked thru to see the context of his statement. It really is just reactionary rubbish. <br />Bruce Wilderhttps://www.blogger.com/profile/09631065564839959376noreply@blogger.com