Think of that in what might be called quantum terms. Sovereign spending becomes the wave function in that case. It holds within it the potential for schools, hospitals, care, housing, infrastructure, investment, and the green transition. None of these things exists until the act of spending is made. But once the government makes the decision, the potential collapses into reality. The possibility becomes actual, and society is changed.
This is the part of economics that mainstream commentators never want to acknowledge. They prefer to claim that spending is tightly constrained, that it is always limited by “sound money” or “fiscal rules.” That is like pretending that the wavefunction does not exist until it has already collapsed. It is to deny the space of possibility that sovereign governments really have.
Having gone off into this quantum economics he’s managing to miss the actual lesson. That micro- really is different from macro-. And now he’s trying to build a macroeconomics on microfoundations. The very thing he snarls at others for doing….
Oh God, another quantum of bollocks. Please make it stop.
Listen! And understand!
That Quantum economics is out there!!
It can’t be bargained with
It can’t be reasoned with
It doesn’t feel pity, remorse or fear
And it absolutely will not stop – ever
Until you are dead…..!!!!
Is this Quantum economics in the room with us right now?
Commie dick Murphy morphs between government ownership of production and private.
Oh, yeah. There will be so much cash, you can even do ‘the green transition.’
K. Government doesn’t build schools. They hire companies that can build schools. Except companies won’t work for Weimar paper. So you still don’t get schools, etc. He fantasizes about what can be done with wheelbarrows of money.
One could go back to the really good really old days and just enslave all the plebs and flog them into doing all the work. (I advocate enslaving all the asylum seekers of course.)
Though I would argue that it wouldn’t be worth anyones’ bother to enslave me!!
The man is, by all evidence fom his utterings, barely able to do actual accounting, which is mere arythmatic..
Yet he attempts to do mathematical gymnastics at world championship level…
Wave functions…. really….
OK.. easily tested…
Dear Solanum, please do accurately explain the how and why of electron orbitals…
After all, that is a mere Student’s Exercise in Quantum Mechanics and its interaction with the “Macro” world.
Exactly the link you’re…grasping… for….
Of course… the actual answer might not be to your liking….
All his world salad nonsense uses a single interpretation of QM. I’m not surprised he doesn’t know there are others as that would mean reading things and doing work but ChatGPT must do.
A new particle derived from the Strange quark with minus half spin has been named the Murphy Foron after its discoverer. As Stephen Hawking famously said, “Whenever somebody mentions Schrödinger’s Cat, I reach for my gun.”