to restructure the economy of the West to be one where wealth flows upwards and positive real interest rates are the norm
Smurf is now arguing against positive real interest rates. As a basic idea, that would be bad, that people gain a positive return, after inflation, for the use of their saved resources.
That would be bad.
Sigh.
Inflation may either be regarded as a tax on savings or as theft of them; Murphy’s support for negative real interest rates and higher taxes aligns him solidly behind V.I. Lenin to whom is attributed, by J M Keynes and others, a purpose to grind the middle classes (a.k.a. bourgeoisie) between the upper and nether millstones of taxation and inflation. It should be remembered that Lenin was one of the grteatest mass murderers in history, exceeded only by his pupils, Stalin and Mao Tse Tung and, perhaps, Adolf Hitler. Even Genghiz Khan killed fewer.
Murphy’s choice of intellectual allies is regrettable.