No.
False demand? So you believe that the U.S. is providing everything people need with the capacity it is currently running at?
How so?
Do you understand how surpluses and supply works? What item essential to your everyday function can you not buy immediately? How much do own that is above and beyond the bare essentials? The answer is a lot.
So yes, to maximize production there has to be inherently false demand for the majority of goods. You don’t understand that achieving “maximum production” has an asymptote, you can never actually get there in any real sense.
If there are workers who don’t produce goods (i.e. you), then achieving maximum production isn’t happening. Therefore, you would have to get off your ass and work for someone.
Take that thought process through - if maximizing production is the goal and end all to cure whatever ails society fiscally, it quickly follows that majority of people then do not need an advanced education as they will only need to be the plebes who run the machines that make the goods. To achieve that end, those in power then will select some minimum number of people necessary to have the education/knowledge needed to keep the factories running. The rest of the folks might as well stop getting educated at 8th grade and start training for the job to produce widget A at a maximum rate. They have no need for further education.
Innovation and advancement would have to come to a grinding halt to maximize production.
I already know your rebuttal is going to “co-ops are the answer”. Which is another fallacy. Because in a co-op, everyone is a manager and decision maker which hampers efficient output. Have you ever tried to work on an actual project where there are too many managers? It tends to produce minimum efficiency.
Let me put in terms you understand: While making a drink, every other bartender constantly tells you you are making it wrong, or pouring inefficiently and they snatch they bottle out of your hand to make the drink their way, ignoring the fact that they should be making the drink for the other customer not yours at the same time.
Get off your ass and be productive to society
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Which is hilarious because even co-ops do not function this way in reality.
There will ALWAYS be a boss, period.
It may eventually be AI, but a boss(es) will exist.
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The same morons who believe in economic joke theory (MMT) like you. In order to claim a sovereign can continue to issue debt without consequence implies infinite debt demand. The fact you can’t grasp this shows you’re incapable of operating a roadside vegetable stand. Stop embarrassing yourself.
No, it does not. Explain how productive capacity and output is increased by increasing the units of a medium of exchange. Guarantee you won’t answer; quick, Google an idiotic response!
You literally just said economic output is increased by increasing medium of exchange tokens, right here on this thread. No wonder all you could do is pour drinks in a glass. You think increasing government expenditures has no impact on decreasing the (more productive) private sector resource allocation. Yet again, you believe printing money increases economic output. Really, stop making an ass of yourself.
Can you even define the term?
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Have these people ever taken an economics course? Think of the “cost of money” using this approach. But, I guess your credit rating means nothing, it is all junk?
Also, didn’t Greece almost bring down the EU by using MMR and just printing money? If I remember correctly, wasn’t is disastrous in Latin America by causing runaway inflation?
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There is not a chance the MMT morons understand rudimentary economics. I’d love to see a single proponent of this excuse to increase the idiocy of Keyensianism paid to make forecasts. Not one person advocating MMT has any AUM. If they understood economics, they wouldn’t be publishing nonsense on this and teaching laughable “economic theory” but instead would be managing macro AUM for Bridgewater, Renaissance, Citadel, etc. There is a reason not a single person or institution compensates them to make economic forecasts and I’d bet my balls that the idiot castoli can’t name one person, just one, who does.
You are correct about Greece (problem is ongoing, just forgotten by the market) and Argentina has had inflation north of 100% for the past several years after suffering economic disaster in the late 90s early 2,000s. Hopefully, they elect Milei, who actually has a functioning brain and understanding of economics.
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Thanks, yeah some of the proposals are scary. Seems like every 10 years or so a “New Economy” scheme that the older generation doesn’t get rears its head. I remember Savings and Loans in 88, .coms in the 90’s, Enron in 2001, 2008 (enough said), and we are doing it again… MMT is old, but funding via printing press is very appealing when you only have a 2, 4 or 6 year term to worry about.
This article is very good for those that need a refresher (not you obviously, you know more about this than me)
Modern Monetary Theory Meets Greece and Chicago | Cato Institute
Jesus Christ you’re stupid.
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This is like being made at an insurance company that paid to re-build your house after it burnt down.
You get sick → Healthcare costs more than you can afford → Bills come in → Debt accrues → bankruptcy declared → Debt gone forever.
Castoli “derr derr asks dem how de feelz about da BK derr derr”
Fucking retard.
It eliminated their debt and fucks creditors. Only someone as dumb as you thinks this is a bad thing.
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He’s the reason chainsaws need warning labels…
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Yeah everything just works out, Never mind the incredible difficulty these people have trying to rebuild their lives. Being denied access to credit and all it entails, all because they got sick or tried to save the life of their child.
Only someone as dumb as you thinks this is a good thing.
If you knew anyone who had to go through BK and the problems that followed them around for years then you may feel different. I say may as you exhibit very little of a moral compass. Everything is subservient to profit and power. Such a good person you are.
@castoli711
any actual response to the math I posted above or what your degree is? Or what resource is scarce?
Or how to maximize production without boning mother Earth? (note: maximizing production is not equivalent to producing at the level needed by society).
If the people declaring bankruptcy didn’t think it was a good thing, they wouldn’t do it. How are you this ignorant?
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You think money you didn’t earn belongs to you.
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When did I say this?