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   GhostOnTheHalfShell (ghostonthehalfshell@masto.ai)'s status on Tuesday, 13-Aug-2024 01:45:56 JST GhostOnTheHalfShell

   in reply to

   @economics-that-works

   There is a fundamental problem in #MMT and even in #SteveKeen 's and others definitive work on modern economies:
   they are but accountants who have found superior ways of journaling what is a system of murder and destruction. Worse, they imagine they've found a solution, that they can stabilize Armageddon.

   The dynamic of destruction evolved before capitalism and is more enduring than capitalism. It underpins its antecedents in all their forms.

   🧵

   • Embed this notice
     GhostOnTheHalfShell (ghostonthehalfshell@masto.ai)'s status on Tuesday, 13-Aug-2024 01:45:57 JST GhostOnTheHalfShell

     in reply to

     @economics-that-works

     "and therefore, free of guilt and sin; a world where men and women were free to simply calculate their interests in full knowledge that ev­ erything had been prearranged by God to ensure that it will serve the greater good ... The problem with such models-at least, it always seems to happen when we model something called "the market"-is that, once created, we have a tendency to treat them as objective realities.."

     🧵

     Bill repeated this.
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     GhostOnTheHalfShell (ghostonthehalfshell@masto.ai)'s status on Tuesday, 13-Aug-2024 01:45:58 JST GhostOnTheHalfShell

     @economics-that-works

     #Graeber #MMT #economics

     "This is actually why Smith's work is so important. He created the vision of an imaginary world almost entirely free of debt and credit.."

     🧵

     p353-354 Debt: The first 5000 yrs

     Bill repeated this.