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Anyway, cool for AOC to be honest, but unfortunately her views (specifically support of MMT) are a certain way to nuke the economy of the USA.
The US economy gets nuked every 8-12 years thanks to private equity and boom-bust capital trends. MMT just moves the ball out of the hands of a cartel of hedge funds and into the hands of the US Treasury. I’ll happily agree that its not sufficient to solving the problem of malinvestment and industrial waste. But that’s precisely because its an extension of Keynesian-cum-Friedmanite monetary theory of economics. At some point, you have to take account of real assets, not just float around fictitious capital.
if USD as a currency takes a 10000x inflation in a year
You don’t get inflation like that under Eisenhower/Carter era tax laws. MMT, in practice, is still predicated on some degree of currency recapture. You’re just replacing credit elasticity through private lenders with spending elasticity through public spenders. “Here’s a $500k loan, build a house and pay me back at 6% APY” isn’t meaningfully different than “Here’s a $500k grant, built a house and your builders are going to pay me back 6% VAT”.
Except that’s not the way people like AOC promise.
AOC promises a large public investment in value-adding infrastructure. She’s just proposing direct payment rather than tax-incentivized private investment.
We have multiple written testimonials, period artwork, and documentation of the resulting mass movement.
You could play the same game with Socrates. Dismiss the fragmented reproductions of - periodically contradictory and occasionally fantastical - accounts of the pupils of his pupils and he doesn’t exist either. Indeed, there Socratic problem tackles the root challenge of reconstructing the veracity of a 2000 year old figure’s existence. To complicate things, some of the earliest writings on Socrates known to exist are Gnostic Gospels (which contains fragments of a transcribed copy of Plato’s Republic).
You disabuse yourself of historical Christian accounts at the peril of ignoring the accumulated history of the ancient world.
We have real life video accounts of people in costumes identical to that of the cartoon character climbing buildings. What’s the line here? Are we saying nobody’s ever gained superpowers from a radioactive spider? Or that nobody’s ever dressed up in a costume like that to chase after petty criminals? Or that nobody’s ever climbed a building in that iconic outfit?
If, two-thousand years from now, we discovered a written account of one of these performers along with a handful of comic book fragments discovered in a book case buried in a cave in the deserted island of Manhattan… what kind of conversation would you have?
If we then somehow managed to resurrect a snippet of footage what would be concluding, then?
You can dispute Magical Jesus with the same cavalier attitude as Spiderman. But this is more akin to disputing the existence of Eliot Ness by pointing to a stack of Dick Tracey cartoons and saying “Unbelievable!”