Freezy on Nostr: The 4 core pillars of MMT: 👇 1. Accounting: The math of government debt = private ...
The 4 core pillars of MMT: 👇
1. Accounting: The math of government debt = private sector savings checks out & if u claim that only debt-based monetary systems can work you're good to go.
2. Human Nature: People want stuff for 'free'. Thus offering 'free' stuff financed by money printing will give you a competitive edge on the voting booth.
Furthermore, human nature has this irrepressible drive to build, invent & improve stuff, which causes technological progress.
3. Technological Progress Induced Deflation: Humans improve technologies & build better machines, factories etc. This increase in productivity reduces the cost of everything .. sandwich to aircraft carrier & it's necessary to hide the price inflationary effects of money printing.
4. Gaslighting: 3. must not be aknowledged. Burgers costing 50x more than 50 years ago is not due to money printing but the current thing. Common sense & intuitve reasoning (brrr -> price inflation) must be countered by confusing people with technicalities of the monetary system.
#bitcoin #MMT
1. Accounting: The math of government debt = private sector savings checks out & if u claim that only debt-based monetary systems can work you're good to go.
2. Human Nature: People want stuff for 'free'. Thus offering 'free' stuff financed by money printing will give you a competitive edge on the voting booth.
Furthermore, human nature has this irrepressible drive to build, invent & improve stuff, which causes technological progress.
3. Technological Progress Induced Deflation: Humans improve technologies & build better machines, factories etc. This increase in productivity reduces the cost of everything .. sandwich to aircraft carrier & it's necessary to hide the price inflationary effects of money printing.
4. Gaslighting: 3. must not be aknowledged. Burgers costing 50x more than 50 years ago is not due to money printing but the current thing. Common sense & intuitve reasoning (brrr -> price inflation) must be countered by confusing people with technicalities of the monetary system.
#bitcoin #MMT