The Four Academic Parties Of The Economic Apocalypse
The 1) Keynesian Spenders, 2) Chicago Monetarists, 3) Classical Liberal Industrial Policy Advocates and 4) Austrian Human Capital Advocates, will not put aside ideological differences and work together to propose a suite of solutions that will both stimulate the economy, and provide each ‘economic political party’, and each ‘governmental political party’ and their respective constituencies, with compensation for the involuntary transfers that will occur, and the negative externalities that will be brought about, if we borrow and spend.

Blame Krugman And The Left
I blame this set off affairs on on Krugman in particular, but the entire mainstream movement in general, whose ‘party’ is currently in power. And who, like all parties in power, seek to push their agenda independently of compromise rather than the agenda of the collective through artful compromise. Unfortunately, the people in government do not have a sufficient grasp of the different schools to think of them as the adjuncts to political parties that they are. When Obama called a meeting of ‘top economists’, there oval office contained only left wing economists – none of them white or christian either. Thereby demonstrating his preference, and in doing so guaranteeing that a broad based solution was impossible.

Exchanges Build Permission To Spend
It would be entirely possible for the left to ’spend’ in exchange for wiping out the DOE, HUD and public education tenure. That would be a fair exchange. It would be entirely possible to ’spend’ in exchange for a new immigration policy. That would be a fair exchange. But all efforts at exchange have failed. Polarization continues. And you simply seek economic dictatorship, so that you can remove the means by which the population can rebel against the state.

The Reincarnation Of The Devil Himself: The Cashless Economy
I agree with the MMT crowd, and Yglasias, that the elimination of paper currency will allow forcible redistribution across the entire economy by way of monetary policy alone, which will allow the Left/Statist/Keynesian alliance to overwhelm the Monetarist, Industrial and Human Capital parties, and each of their supporters, in the domesticl economic legislature of intellectual opinion.

The Resistance Movement
The other Political/Economic party coalitions object to spending, because they object to further empowering the left/state/keynesian party. This is the opportunity that the moderate and right side coalitions are using to punish the state for over reaching. The conservative strategy is to starve the beast and bankrupt the state before it can bankrupt them, and entirely destroy their culture. (Albiet, it’s probably too late now.)

It appears to most of us, who focus on productivity instead of consumption, that both increases in spending, and a cashless society, simply remove the constraints on destruction of productivity, and further encourages the creation of catastrophic bubbles that will not be able to be ‘fixed’ by market corrections, but instead, will be solved only by revolution, economic irrelevance and poverty, or military conquest.

Yes People Prefer Depression To Revolution, Civil War, Economic Impoverishment, and Conquest.
So yes, people clearly prefer this ‘state of affairs’ to those where the state is further empowered to expose them to risk.

And in that sense, it is a rational choice, a fair trade, and it is currently being purchased at a discount.

Economics is inseparable from politics. Because economics is a subset of politics.

And politics prevail. Politics prevails because the material economy lives at the service of the status economy.  It always has and it always will.

 

One Response to The Four Academic Political Parties Of The Economic Apocalypse

  1. Curt Doolittle says:

    1) MMT: Print money and dump it directly into consumer’s hands and it will work its way through the economy from the bottom up.
    2) Monetarists : Make money really cheap to borrow and it will work through the economy from the top down.
    3) Keynesians : Borrow money and have the government spend it. It will work its way through government institutions into the economy through the organizations the feed off the government.
    4) Classicals : Borrow to Invest in creating and expanding competitive industries and it will work its way through the economy through us.
    5) Austrians : Borrow to Invest in human skills and knowledge, and people will create productive goods that will work its way through the economy through individuals.
    6) Propertarianism: ALL OF THE ABOVE. Each of the different academic political parties represents a different constituency. And by feeding that constituency they transfer wealth from other constituencies to themselves. The solution is to render these transfers visible, and calculable, so that inter-temporal transfers are simply loans from one another that help the entire population produce productive ends, rather than scramble steal from one another by way of the state.

    It is possible to make all of economic and political activity transparent.

    But the truth is.

    People don’t want to.

Leave a Reply

Set your Twitter account name in your settings to use the TwitterBar Section.