/biz/ - Business & Finance

[Anonymous No.22160391]

is keynesian economics/MMT a meme?

[Anonymous No.22160414]

>>22160391
yes

[Anonymous No.22160438]

economy is one big meme

[Anonymous No.22160459]

>>22160438
Stick to literature, marxist.

[Anonymous No.22160475]

>>22160391
>they think money is a zero sum commodity, not psychological conditioning

[Anonymous No.22160491]

>>22160391

MMT works if you assume politicians are absolute experts in macroeconomics, have perfect knowledge of the state of the economy, and are absolutely moral and honest.

If any of that is not true, then MMT becomes a run away train wreck of an every expanding government which believes it is unconstrained by finances.

Fixed currency rates is more of a check on government power, while fiat systems let government grow uncontrollably.

[Anonymous No.22160647]

>>22160491
Keynes’ ideas were strongly influenced by the fact that he was a hedonistic faggot with unquenchable thirst for cock. His economic theories underpin social models that maximise access to boypussy without alerting normies to what’s occurring. A healthy society would have stoned him to death at a young age

[Anonymous No.22160650]

>>22160391
who cares about austrian or keynesian economie?
nobody gives a shit about that

[Anonymous No.22161302]

>>22160647
Kek

[Anonymous No.22161355]

>>22160647
Underage boypussy. Pervert scientist.

[Anonymous No.22161389]

>>22160391
Yes.

Unfortunately a meme very successful at self-replication as it targets women and other people without the faculty for abstract reasoning.

[Anonymous No.22161396]

>>22160647
This

[Anonymous No.22161497]

>>22160491
MMT "works" if the money is allocated productively.

Everyone knows politicians are completely incapable of such a task, even if they weren't merely the puppets of those who own the media.

>>22160650
Austrian economics is literally the foundation of crypto-currency... “I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop.” – F.A. Hayek 1984

Established in opposition to the consequences of neo-Keynesianism after the economics crisis of the 2000s. Feel free to notice the problem: https://wtfhappenedin1971.com/

[Anonymous No.22161695]

>>22160647
He was a depraved pedophile who economic "theories" have wrought untold damage on the human race, and worse yet, he fucking knew he was full of shit. Dying of sexually transmitted diseases he said: "I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago." source: http://www.maynardkeynes.org/keynes-career-timeline.html#intfin

[Anonymous No.22161887]

>>22160391
Only faggots and waitresses take MMT seriously. Austrian economics would set the world free.

[Anonymous No.22162210]

>>22161497

Yeah MMT relies on the assumption that the government will properly allocate the money in ways that increase production more than the private sector could. Because that's what the government is doing when it prints money and spend them on things, any resources it uses are otherwise unavailable to the market. There are certainly ways in which game theory causes inefficiencies in a free market and the government can step in to better allocate capital. But the truth is politicians are largest inept and have no clue about economics, and will never properly allocate the money. It is almost always squandered 100% of the time.

But MMT also relies on the government having perfect knowledge about the economy, such as inflation and unemployment. Even if government politicians were also expert macroeconomists, all expert economists will acknowledge they cannot know everything with certainty, yet MMT says government spending is only limited by inflation, something that is subjective.

MMT then defines fiat currency in circular logic. That is government has power because it can spend, and it can spend because its currency has value, and its currency has value because the government has power to collect taxes. Once the currency is devalues, the entire value proposition breaks, the government can not collect taxes if the tax collector isn't getting paid.

[Anonymous No.22162541]

>>22161695
>>22161497
Anon, please give me more data

[Anonymous No.22162764]

Lolbertarian pseuds ITT lmao

[Anonymous No.22162804]

>>22160647
this is the intuitive anal cyst and diagnosis i expect from 4chan

[Anonymous No.22163321]

>>22162764
fag detected
hope your fave bath house gets some stimulus money

[Anonymous No.22163449]

>>22160391
Mmt is a great description how to treat fiat if you have sound assets in reserve like gold or better bitcoin
Keynesians are pedophiles

[Anonymous No.22164288]

Yeah, it's fucked big time, fren.

[Anonymous No.22164625]

it's a big meme. Lucas is right, econometrics confirm. All we can do is trying to control inflation and industrial planning. No more.
There are so many false premises, or, to be more specific, more premises that dont work anymore. As Lucas says, economics as a science changes the economic system... so, for example, the consumption theory of Keynes doesnt work anymore because thinking that way isnt optimal anymore given the knowledge of other intermediaries.
t. i know what i'm talking about (MSc)

[Anonymous No.22164798]

>>22160391

[Anonymous No.22164847]

>>22160491
Concise

[Anonymous No.22164985]

>>22160647
Based

[Post your made it homes No.22165136]

>>22164985

[Anonymous No.22165187]

>>22160650
Nigger, this shit is what is taught in institutions

[Anonymous No.22165224]

>>22160391
If your currency isn't backed by anything (ie. gold) or if it isn't finite (ie. bitcoin) it might as well be toilet paper.

>>22160491
Good point too.

[Post your made it homes No.22165355]

>>22165224

[Anonymous No.22165536]

>>22160391
Depends on whether you think this chart is a meme.

[Anonymous No.22166257]

Only the larouche-riemann method of physical economy can save us now.