• 0 Posts
  • 17 Comments
Joined 3 years ago
cake
Cake day: June 24th, 2023

help-circle





  • That stuff has a name, and it’s called MMT, modern monetary theory, and it’s generally considered a bad idea.

    Yes, the government can in principle just print money, but that has consequences, and they’re not pretty. The understanding of the problems this was causing has been the historical reason for the independence of the central banks from the executive branches.

    There is a branch of the left that doesn’t like the idea that there are limits to public spending, but now that Trump is trying to take control of the Federal Reserve we just might find out how much of a bad idea it is to have the central bank under the executive.

    The shortest version of why MMT is very dubious at best, is that if you print too much money you get inflation, and MMT proponents acknowledge this. You know how they suggest controlling inflation? By levying taxes. And there you go, taxes are back.

    BTW the breakdown of how your tax dollars are spent is here: (at least if you’re in the US, which it sounds like you are)

    https://en.wikipedia.org/wiki/Expenditures_in_the_United_States_federal_budget



  • In the Star Trek Universe though, from what I remember, there wasn’t a revolution of the working classes. There was a near global collapse due to a series of wars (often stated with different or contradictory dates), followed by some dark age, then a new golden age starting with first contact.

    From my memories of Marx he was also pretty light on the details of the society that would follow his revolution, so if you tilt your head and squint a little, kinda anything goes.

    To me it feels like the wrong label for the task.