Comments by "Tony Wilson" (@tonywilson4713) on "What is modern monetary theory" video.

  1. And anyone who reads your comment should think long and hard on what its based on and then look at the evidence of what it has delivered. 1) The claim that governments can't do anything right comes straight from the mind of Milton Freidman who for some inexplicable reason was regarded as smart. He wasn't he was an IGN0RANT CLOWN of epic proportions. There's a fantastic interview where Phil Donahue challenges Freidman on his basic claim that "greed is good." Freidman claimed that all innovation is driven by greed. The problem with that is the greatest single project in human history for driving innovation the Apollo program had been successful. In Kennedy's famous speech announcing the plan to send a man to the Moon safely return him to the Earth the end of the decade INCLUDED remarks about developing methods and materials not even under consideration at the time. Out of Apollo came miniaturised electronics, practical digital computers, many alloys, many other materials including Teflon... etc. By the late 80s every dollar spent during Apollo had been returned over 9 times via taxes on wages and profits from companies exploiting Apollo spin-off technologies. That came out in a report following the Challenger disaster. I know about that because I'm an aerospace engineer. Other than that there's the incredible success of public education programs, public health care systems, road, bridges and other infrastructure all of which has enabled the private sector to grow and make money. Simple fact governments can do great things and can run economies. Its a matter of electing people who are competent rather than the clown brigades to many nations elect. 2) The claim that modern economics has delivered tremendous growth, wealth and prosperity is also bunk (to say the least). The correct way to describe neoliberal economics is that it has delivered tremendous growth, wealth and prosperity FOR SOME while leaving large slabs of society broken. In late 2022 Bernie Sanders had a report commissioned by the Congressional Budget Office on family wealth. It clearly showed that the Top 10% of America have done well, the Middle 40% of America have done O.k. while the bottom 50% have been utterly smashed and pulverised economically. If you extrapolate that information to the rest of the developed world where there are approximately 1.2 Billion people then what neoliberalism has done is throw around 600 million people under the economic bus like ahs happened to most of the other 6.8 Billion people on the planet while around 120 million people (~1.5% of the human race) has made enough money and gained enough wealth to afford to pay for the environmental damage they have done making that money. Those 2 things alone should get people like yourself to SHUT UP or WAKE UP, but your so called correction of money and debt is one of the stupidest explanations I have seen yet. Anyone who's read this far please go and watch Gary Stevenson's video on "What is Money."
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