But they cannot ensure that this money has value. Value, which is created in production.
Whilst money, representing abstract labour, can only hold the value in an economy of a productive economy
MMT is petit bourgeois nonsense which tries to substitute class struggle with bourgeois voodoo
Whats more most "money" is created by banks in the form of credit or loans to investors and consumers
And since when have banks, who are privately owned, ever ran in the interest of society as a whole
Whats more we've seen this year the US print money like theres no tomorrow.
6 trillion $ and yet the people are lining up at food banks
States can create money (which only stores abstract labour value represented by a productive economy) but they cannot ensure this money is used productively
The West has been on a printing money spree since 2008 (not even to mention this year in Trump admin hopes to stave off s recession until after the election)
This money has not gone back into production as reinvestment which shows through the rubbish GDP growth throughout the West. It has mostly gone into the stock market
So States can print money but they cant dictate the value of that money nor can they dictate if that money is even used
States can create money - that is true
But they cannot ensure that this money has value. Value, which is created in production.
Whilst money, representing abstract labour, can only hold the value in an economy of a productive economy
MMT is petit bourgeois nonsense which tries to substitute class struggle with bourgeois voodoo
Whats more most "money" is created by banks in the form of credit or loans to investors and consumers
And since when have banks, who are privately owned, ever ran in the interest of society as a whole
Whats more we've seen this year the US print money like theres no tomorrow.
6 trillion $ and yet the people are lining up at food banks
States can create money (which only stores abstract labour value represented by a productive economy) but they cannot ensure this money is used productively
The West has been on a printing money spree since 2008 (not even to mention this year in Trump admin hopes to stave off s recession until after the election)
This money has not gone back into production as reinvestment which shows through the rubbish GDP growth throughout the West. It has mostly gone into the stock market
So States can print money but they cant dictate the value of that money nor can they dictate if that money is even used