Post AWphIZHeIn1oxQUsK0 by dew_the_dew@nicecrew.digital
(DIR) More posts by dew_the_dew@nicecrew.digital
(DIR) Post #AWpdYu1OZEme5jQaP2 by grayface_ghost@tech.lgbt
2023-06-17T16:47:34Z
1 likes, 0 repeats
Look, I'm a physicist by training, a programmer by trade, and an esoteric priest in my spare time.I'm not an economist.As far as I can tell though, our economic system is based on the belief that money is a finite resource.The value of money though is confidence. It has no physical existence, it's a virtual or magickal substance that's only peripherally related to human well-being (which should be the only measure of wealth although I'll accept forms of wider universal well-being) and even less related to economic activity. Economic collapses don't occur because countries run out of money! They occur because the rich lose confidence that the money they have is real, and that makes the money worth less or even worthless. The lack of confidence blocks the working of the magick.If more people understood this, there'd be less resistance to the idea of governments creating money in order to fund infrastructure projects.
(DIR) Post #AWpdYv6kWof1ScwNO4 by grayface_ghost@tech.lgbt
2023-06-17T16:53:30Z
1 likes, 0 repeats
Infrastructure projects provide jobs and income for the workers (well-being growth). They enable economic activity providing jobs and income more widely (well-being growth). The cost of creating the money to pay for it is... nothing.Nothing, as long as people understand that nobody lost out. People will talk about inflation and devaluation at this point, but this happens because confidence is lost. And that's all.I've yet to find someone who can explain to me why this isn't so. The devaluation thing only happens because those who hoard wealth in a particular currency fear that they'll not be able to exchange it as beneficially in another currency.But there should be no need to. If money was understood.
(DIR) Post #AWpdYvrXiq5hnkpkK8 by Humpleupagus@eveningzoo.club
2023-06-19T00:03:33.735535Z
2 likes, 0 repeats
Money is just a commodity like cans of beans. Money is only used as a primary means of trade because the other means were taxed out of existence by western governments to allow for the rule of the central bankers. For example, before private bank notes and barter transactions were taxed, most people traded in private bank notes, mixed metals, furs, beads, etc. Central bank / government currencies were rarely used. That you focus on central bank money as a trading medium better reflects your knowledge of history than economics.
(DIR) Post #AWpe2DHs16akF06tqS by dew_the_dew@nicecrew.digital
2023-06-19T00:08:53.225507Z
0 likes, 0 repeats
this is pretty much it. it exists to be taxable.
(DIR) Post #AWpeIWTWRbdANuKyrw by Humpleupagus@eveningzoo.club
2023-06-19T00:11:48.896057Z
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Yup. You can't pay tax in kind, and the income tax basically forced the common person to pretty much exclusively trade in it. Without the income tax, barter would be far more common.
(DIR) Post #AWpgQB1QI4Sw4cyIsa by dew_the_dew@nicecrew.digital
2023-06-19T00:35:37.695290Z
0 likes, 0 repeats
this is actually pretty much the basis for modern monetary theory.
(DIR) Post #AWpgWUm3lV614UnZM8 by dew_the_dew@nicecrew.digital
2023-06-19T00:36:46.171897Z
1 likes, 0 repeats
also it's the property tax that is probably the biggest hammer from the state. you need to earn dollars or say goodbye to all your house and land.
(DIR) Post #AWpgakKXrxx2TbxK7c by dew_the_dew@nicecrew.digital
2023-06-19T00:37:32.136898Z
1 likes, 0 repeats
then i guess at a certain point it just became convenient and then people forgot that it was ever done any other way.
(DIR) Post #AWpgsCZA8uY6yH7H7o by Humpleupagus@eveningzoo.club
2023-06-19T00:40:40.407063Z
0 likes, 0 repeats
And they only look for solutions within the current system. You have to lower interest rate, or increase consumer confidence, etc.
(DIR) Post #AWphDN4kGRNbe9z1VI by Christmas_Man@thebag.social
2023-06-19T00:44:29.878735Z
3 likes, 0 repeats
Keynesians don't care about real world results (mostly because they live in a fantasy world where supply and demand are whatever they say it is)
(DIR) Post #AWphIZHeIn1oxQUsK0 by dew_the_dew@nicecrew.digital
2023-06-19T00:45:27.493015Z
1 likes, 0 repeats
the issue is that demand is hypothetically infinite while supply always has a hard limit.
(DIR) Post #AWpiYBHLQ3zV5xMZv6 by Christmas_Man@thebag.social
2023-06-19T00:59:27.620263Z
3 likes, 0 repeats
"If we use this fiat currency and people continue to think it has value, then theoretically we have infinite supply to meet the demand! It's simple, just print more money!"-Weimar Republic economists, probably
(DIR) Post #AWpikfsfT3k9TqmJYO by Humpleupagus@eveningzoo.club
2023-06-19T01:01:43.555737Z
2 likes, 0 repeats
I think it's more like "if we have a fiat currency, we can choose who eats and who doesn't through a combination of taxes and government largess. We will always eat."
(DIR) Post #AWpiymdh8WfyUnVDCC by hakui@tuusin.misono-ya.info
2023-06-19T01:04:15.667857Z
0 likes, 0 repeats
@grayface_ghost a labor backed currency generated through public works programs? feder already did that some 85 years ago and it was pretty successful, yeswork gives you freedom and all that
(DIR) Post #AWpjL8GvO3zzxXVb84 by hakui@tuusin.misono-ya.info
2023-06-19T01:08:19.544045Z
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