Not the most convincing of responses

ElySageProductions takes me on over MMT. By, apparently, entirely agreeing with me.

If money is not the constraint, why are we not using it to increase our productivity? This takes us full circle to Tim Worstall’s point about the relationship between money and who controls the resources. The people that are stopping us are the vested interests whose wealth (or power) will be compromised by progress. Money—democratically owned by us in the form of fiscal policy—directs resource at the microscopic level, and we have the democratic power to chose the direction. We could choose to use our most precious resource—time—to learn, to innovate, to care and to build a better life for everyone.

Money’s not the constraint, resources are. MMT doesn’t therefore solve our problems.

11 thoughts on “Not the most convincing of responses”

  1. Hey, I’m just chuffed to know I own a whole pile of money democratically “through fiscal policy”.

    I’m gonna go to Threadneedle Street and demand a withdrawal from my democratic account. It’ll be in credit right? If not, I’ll wait whilst they print some more. I’m patient.

  2. “The people that are stopping us are the vested interests whose wealth (or power) will be compromised by progress.”

    Fuck me. Tin foil hat conspiracy or what? ’cause the lack of progress in my lifetime has been shocking. Hardly anything has been invented in the last 55 years.

    “..directs resource at the microscopic level”

    Yep, Murphy would love to control us at a microscopic level.

    But you’d need a microscope to spot his intellect.

  3. i presume mr potatohead has now fallen out with progressive pulse ? begging the question – who hasn’t he fallen out with ?
    (except his own ego)

  4. A very unconvincing reply from Charles Adams, but without the smug and rabid tone that characterises Richard Murphy.

  5. “entirely agreeing with me.”

    I think Tim you’ll find that phrase is generically (c) Murphybollocks, as in, for example

    “right-thinking people agree with me”

  6. While back on Snippa’s blog, the incorrigible Marco Fante claims that there are no shortages of labour or anything in the medical sector. I imagine that this is typical Murph-style casuistry. He does not say NHS, because then the evidence of resource shortages is obvious as soon as you see the first refuse receptacle.

  7. “I have an innate sense for crass commercial valuations” says the Sage of Ely today.

    “Is Facebook 2012’s lastminute.com? Facebook has now gone from $38 to $29 in a week or so after its IPO.” says the Sage in 2012.

    http://www.t*xresearch.org.uk/Blog/2012/05/30/is-facebook-2012s-lastminute-com/

    Facebook stock is today $174.56. Yep, good sense Richard. You could have taken the 65 grand you made in 2011/12 and put it all on Facebook stock at the issue price and now be sitting on 300 grand. Enough to buy another ex-wife a house.

  8. “Enough to buy another ex-wife a house.”

    Has there been a divorce? If so where does that leave the ‘intimately involved’ 1% partner in the LLP?

  9. Jim

    “where does that leave the ‘intimately involved’ 1% partner in the LLP?”

    Believe it or not, there are cynics (shame on you) who believe that probably she never even knew she was such a partner, Murphy never having told her and that it was all an artificial arrangement to secure limited liability.

  10. “Believe it or not, there are cynics (shame on you) who believe that probably she never even knew she was such a partner, Murphy never having told her and that it was all an artificial arrangement to secure limited liability.”

    Say it ain’t so Joe, say it ain’t so…………………

  11. Money—democratically owned by us in the form of fiscal policy—directs resource at the microscopic level, and we have the democratic power to chose the direction.

    These sentence out-Murphys Murphy at his best/worst.

    Who is Charles Adams? And how does he remember to breathe?

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