Foundational Problems of the Left Part II: Progressives and Errant Views of Inflation

As an addendum to yesterday’s post, before I begin, I’d like to clarify the point that taxes reduce spending power and thus, can reduce the spending power of the rich whilst raising the spending power of the poor. When progressives say, “tax the rich!”, what they’re saying, though they do not know it, is, “destroy[…]

The Money Supply, the Price of Money, Monetary Policy and Inflation

Much confusion surrounds the items in this article’s title. Thanks to orthodox viewpoints we have nearly an entire populace that believes Jack and the Beanstalk is a true story. Now, of course, I’m not being literal. I am, however, trying to make a point. Like, say, Tolkien, orthodox economists fashion a fantasy world all their[…]

Universal Basic Income: An Economic “Destabilizer”

As an addendum to yesterday’s article concerning the Job Guarantee versus the UBI, I’d like to clarify a couple of points concerning the inflationary aspects of a UBI and its inability to discipline inflation. In yesterday’s article I chose to address the potential wage-price spiral effects caused by a UBI, because the point that all[…]

Inflation: Ad Nauseum

It just won’t stop. Oh, you can tell people to focus on long-term involuntary unemployment and the negative effects thereof, which make the effects of inflation seem like a walk in the park – and it should be the main topic of discussion – but, no. Some people must talk about inflation and, quite frankly,[…]

The US Government Does Not “Print Money” to Fund Spending

On May 11, 2016, CNN ran an article by Heather Long with the headline, “How can Trump ‘print the money’?”, filled with misinformation that only neoliberalism can conjure up, finishing strong with warnings about the U.S. becoming just like a small African nation called, you guessed it – Zimbabwe. Let’s debunk the article. From the[…]