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View Diary: Insolvency, tax cuts, military spending and social security (188 comments)

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  •  Good progressive policy (0+ / 0-)

    Means actually understanding economics.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Tue Apr 24, 2012 at 01:48:58 PM PDT

    [ Parent ]

    •  really? (2+ / 0-)
      Recommended by:
      ozsea1, pot

      coming from someone who thinks deflation is just a minor inconvenience?  I've never taken an economics class, but I understand it better than you do.

      •  Deflation... (0+ / 0-)

        ...is the cure, rather than the disease.

        I hate analogies, but it's analogous to a heroin withdrawal. Sure, not having heroin is incredibly painful and giving more heroin certainly makes you feel better in the short term, but in the long term you have to get off the stuff (i.e. allow the economy to deflate down to sustainability).

        (-5.50,-6.67): Left Libertarian
        Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

        by Sparhawk on Tue Apr 24, 2012 at 02:50:59 PM PDT

        [ Parent ]

    •  LOL (0+ / 0-)

      I understand economics very well, even liberrtarian economics.

      Typical.

      "What have you done for me, lately?" ~ Lady Liberty

      by ozsea1 on Tue Apr 24, 2012 at 02:21:06 PM PDT

      [ Parent ]

    •  But the problem is (1+ / 0-)
      Recommended by:
      ozsea1

      That you don't, but think you do.

      Not your fault, it's a  worldwide dark age of economics. Studied a bit of econ back in the late 70s & early 80s. Some good, interesting stuff, but too much gibberish that simply didn't make sense.

      Got a big shock when I opened up some recent textbooks. All the true, interesting stuff had been purged, while the gibberish had grown like cancer. Laughable, psychotic ideas like Ricardian equivalence & government budget constraints were taken seriously and pretend-proven.

      In the interim, the enormous weight of gibberish innumerate neoclassical, pseudomathematical quackonomics propaganda had become so enormous I had started believing a little in its insane ravings. Some of the same things I had rejected before and stopped studying econ because of. Read some Keynes in the 70s, but not Lerner, hadn't heard of him - who fixed Keynes's confusions and made him clearer.  

      A lot of the work of the MMTers is just cleaning up the absolute shit that dominated the last few decades, and just writing down carefully the things that everyone used to know, that went without saying, that hence nobody ever said. Such retrogressions, such amnesia in science are much more common than most people think, although economics is a pretty extreme case.

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