Hoist by his own theory

I would argue that modern monetary theory has shown us that if the capacity to do something exists in this world then money is not a reason for a government not to do it.

It’s the actual resources, not the pieces of paper, that matter. Sure.

They are wrong, of course. The truth is that they cannot afford to not vaccinate the world.

But it’s not money – the pieces of paper – that’s the problem. It’s the real world resources.

Factories to pump the stuff out are being built, converted from other uses, as fast as is humanly possible. The limitation is those real world resources, not the pieces of paper to pay for them.

9 thoughts on “Hoist by his own theory”

  1. Hence a certain distrust of macroeconomics. There really are only resources, assets, labour, goods & services. The first 3 produce the final 2. And we do like enjoying those 2. Money is just a useful tool markets can use to establish the comparative values between them. So we would rather economists & politicians stopped fucking about with the stuff & let the people who know what they’re doing get on with doing it. Particularly this cvnt. They serve no useful purpose.

  2. The number of times he has lashed out at someone for “not understanding how tax works” because they talked about tax & spend, instead of his preferred spend & tax.

    Then he goes and does it, and complains that people are calling him out on it.

    What a nasty, nasty piece of work he is. Rotten to the very core of his being.

  3. aaa

    He really does come across both in print and on the Youtube videos I have seen of him as one of the most unpleasant people extant in public life. A genuine misanthrope with the gall to claim he is being unfairly characterized

  4. In that same thread, he’s totally misrepresenting the Kimberley Clausing paper on corporate tax (Tim has confirmed his understanding, which is the polar opposite of what Ritchie claims, with the professor herself), as well as misspelling her name. Twice.

  5. he’s totally misrepresenting the Kimberley Clausing paper on corporate tax … as well as misspelling her name. Twice.

    He’s more of an expert on her name than she is, frankly.

  6. It’s not just making the stuff. It’s the logistics to get everyone jabbed in Nether Heart of Darkness. Just look at Eritrea and shudder

  7. Tractor Gent

    ‘Details, mere details’

    He doesn’t do practical implementation – only high faluting theory, and that exceptionally badly!!!

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