Reply To: Need help answering this guy: Rich taxes & deficits


Btw, looking at this guy’s arguments, it seems not only has he been influenced by Keynsianism, but MMT, and stuff like Elaine Brown’s “Web of Debt.”

(He might not have read “Web of Debt,” but it hardly matters; one thing Keynes was right about is people are often influenced by economists without even being overtly aware of the origins of their economic thinking. So it doesn’t matter if he knows the names involved, the line of reasoning has a line of decent).

Anyhow, cutting that story short, I should repost this lecture by Gary North on Social Credit et al, which influenced not just Keynes (as he goes into), but people like Elaine Brown, and other people who think the solution is just for the government to print a lot of money and distribute it to The People.

Edit, Sunday Dec 9: Speak of the rob’t debil again, Bob Murphy found a wonderful article embodying this type of thinking at the near-highest levels. ““I like it,” said Joseph Gagnon of the Peterson Institute for International Economics. “There’s nothing that’s obviously economically problematic about it.”

But really Gagnon is being a piker. Why not mint two platinum coins with a really pro denomination. Unfunded future liabilities? No problem!

The only reason I can think of for the austerian thinking that Gagnon is displaying there is he must truly hate the poor & elderly or something.