Message from @Comando
Discord ID: 599457777479581735
I myself fall into being a post-Keynesian.
I think that Keynes was using tools, which while not... wrong, weren't correct in their understanding.
No shit. They were designed to skirt the costs of the Second World War, not to supposed an empire
Keynes sucessfully identified that SOMETHING had changed, and that money was not being applied to the economy in the 30's and onwards
Let alone the entire world
post-keynesianism seems better than mainstream econ
but it's important to not remove the political from political economy
The way things are now, if china or Saudi crash, so does every western country
All our eggs in on fucking basket
i'm not sure that the sort of prescriptions people tend to derive from post-keynes econ would be viable in the long term in a liberal state
One of the chief differences is that... what if we completely misunderstood how money works?
Money, and debt...
Debt is supposed to be avoided. Under Keynes, it's the game
there has to be a deficit somewhere
We will likely have to adapt a completely different set of economics, and to do so will need to isolate that system, to prevent dependence
assuming net imports/exports are at zero a public sector surplus necessitates a private sector deficit and vice versa
Alliances are one thing, but allowing other nations into your economy isn't actually helpful, nor stable
What if... lending out money... creates new money...
What if, having loans repaid, takes money out of the economy?
And what if repaying loans takes out more money from the economy that it adds in? <:hyperthink:462282519883284480>
If this hypothesis were true, then there would be economic crashes, whenever there was a period of credit creation, and whenever the credit stopped being created... there was a crash.
lending out money doesn't create money unless you print it
Uhh
i mean that's basically what happens
the only way it wouldn't mean that is if you had a reserve ratio of 100% i believe
@n meowzers What do you do with money from a loan? You apply it to the economy immediately.
Either way the system we have now isn't looking to be replaced. If anything, they want more debt, and they want to spend more of that debt on migrants
<:ahegon:566797166258028548>
yes
No longer is it a cushion which someday will not support us. Instead, the support is going entirely to minorities, and the very countries who we hold debt to.
If anyone can understand more technical documents
This is how money actually works, according to the Bank of England in 2014.
what if i don't want to read it
I saved it in telegram
lmao
then don't
you cuck
The first page is a summary
wait this is saying that they aren't using the money in their savings
but you can't just create money by being a bank