The new guide to economics

It’s going to be fascinating seeing the answers here, isn’t it?

In reply to Richard’s question to Vinnie about an MMT/economics primer, I’d love to have a small book (or perhaps some online format) with the following chapters/questions, that I can give/send to people I know:

– Why everything you thought you knew about economics is wrong
– Why we don’t need austerity
– Why the government does not need to balance the budget
– Why we can’t afford the rich
– How we save money by not destroying the planet
– Why the government can never be short of money
– Why most economists are wrong
– Why most newspapers and news programmes are wrong about economics
– Why we need not fear hyperinflation
– Why we can and should have zero unemployment
– Why there is no National Debt
– Who stands to gain from the way economics is presented today?
– Why nobody tells you any of this
– Why the market is rarely right
– Why privatization often puts prices up

Other things I’m not sure about:
– Why we don’t need the stock market
– Why we don’t need private banks

Anyone think that any of the Tre Professori would get even one of those right?

12 thoughts on “The new guide to economics”

  1. Why the market is rarely right? If he had said “sometimes wrong” then that would be acceptable but rarely right? What is the book for, barbecue fuel? Is it a reaction to the pulping of his un pickupable classics of dross?

  2. We can have zero unemployment under Stalinist rule where the paraplegic and mentally deficient/ill are forced to work, where babies are taken from their parents and placed in state-controlled nurseries, where early retirement is not even unknown but unimagined, where anyone refusing to work is put in gaol or a labour camp, …

  3. “Other things I’m not sure about”

    Surely there is nothing, nothing that Murphy is not sure about?

  4. How do you have zero unemployment when my last job ended last Friday and my next job starts next Monday?

  5. Im unsure whether the above points were written by the potato or one of his deranged acolytes( i refuse to sully myself by visiting potato central) but whoever wrote “Why we need not fear hyperinflation” needs to be put in a weighted sack and thrown in the nearest river. The rest of it is just as bad so it’s probably spud having another brainfart and being an ignorant cunt.

  6. Why we can and should have zero unemployment

    These will be proper, Soviet jobs, as in “We pretend to work; and they pretend to pay us.”

  7. I cannot understand how anybody other than an out-and-out socialist can take MMT seriously for even one moment. Consider some effects of a State with no shackles on its spending:

    1. It no longer has any incentive to seek the most economical solution to any of its requirements (does it now?) – it can just print up more money.

    2. It means that the private sector, nor any individual, can ever outbid the State for any purchase. Suppose that the State decides to give the latest iThings to all in some favoured group – the iThings will rapidly be priced beyond your reach.

    3. In this manner, the concept of a free market where actors can indicate their preferences by spending their money to gain maximum benefit, becomes totally meaningless. The democracy of the market is abolished (I realise this is a feature, not a bug).

    4. Finally (for this short comment) you can no longer save money for your future, as the State might at any time decide to tax it all away, in order to prevent the inflation it is itself causing.

    Small wonder the commies love it so much!

  8. @moqifen

    imo It’s someone ‘agreeing, but not agreeing’ to wind up Mr Potato as I suggested yesterday, after TW said No DDoS

  9. @Pcar – it’s very hard to differentiate between someone taking the piss out of spud by posting gibberish or spuds actual ideas. I refuse to go on his site to check-don’t want to boost his footfall. I suspect he could apply for a grant from some mental health charity – he seems to keep a selection of lunatics and deranged sychophants entertained on his blog site rather than them wandering the streets.

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