- cross-posted to:
- socialism@lemmy.ml
- breadtube@lemmygrad.ml
- cross-posted to:
- socialism@lemmy.ml
- breadtube@lemmygrad.ml
A video explaining modern monetary theory and how with a little Marxism it can benefit everyone.
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As the amount of currency approaches infinity, the value of the currency approaches zero
Which is bad if you have a lot of money, but not so bad if you have a lot of debt and can still sell your labor and its produce.
But also bad if you have pay for things like food and shelter. Then you are just bartering which is less efficient than having actual currency. You can’t buy or sell someone half a haircut.
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That’s not how infinity works. It’s not a number you can ever reach. It’s not a number at all really. It’s more a set of all numbers.
The value of the currency will never approach zero.
It’s called a limit and it is very much coneptualized in math.
A limit isn’t infinity though. Infinity has no limit. Its the oposite of a limit.
However high you may count, there is still infinitely more you could count. And an infinite number of fractions between each and every number you counted. And all of that is included in infinity.
That’s the technical language used to refer to a limit. Take it up with a calculus book
Well, the books just going off of Sr Thomas Calcula, so really you should blame him.
Interesting take on inflation: One of the big issues is who gets the printed money. Not us. It’s the rich and banks, who buyout all of our resources to hurt us.
Example: 2008 recession, government made blackrock, who then ate up the housing market so that no one owns their home yet they WILL be happy.
This other video at 29:43 also blew my mind, I just never thought about tax in that way, and it’s embarrassing.
Summary for the video-impaired?
Basic mmt with a socialist touch.
Debt just means that the government decides to make something happen. It is neither inherently good or bad. It depends on the context. The biggest opponents are capitalist who want to stop good things from happening as this will reduce their profit. E. G. : more public housing would destroy the business case of landlords.
Daily reminder that Second Thought (zero Thought) is a genocide defending tankie who ideologically supports ruzzia. https://youtu.be/4qIDOx-Pnzo?si=Bwf2tvCRKgM68FKL
