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Who is Dr Anderson? Another dingbat moron who never bothered to figure out how our money system works or having any idea that money in the private economy(bank ZIRP) doesn't just produce wealth on its own either. Ever see an asset bubble Dr? Is the internet created by public funds not wealth? Does buying a productive enterprise with leverage, turning it into an under capitalized, debt saddled, pig produce wealth? At least I can get a stop sign for my taxes, but interest payments from artificially bloated asset bubbles just goes to hookers and pimps.
Furthermore printing money can certainly produce wealth when you give it directly to the goods and service economy and dilute useless, leach, pimp rentier incomes. Say what law? That only works with axiomatically created formulas of productive economy. Taking money from a mugger who doesn't have enough money to buy a gun, and giving it to someone who will buy a sandwich and invoking Say's Law wake you up? Is drinking toilet water no big deal because it will get back there eventually? Applying Say's law without the concept of economic rents like when used to fund acquisitions, anti-productions is wack stupid.
Giving money to people who will produce goods and services will allow them to de-leverage from the bankster leaches.
but then again the doctor probably has not idea of what an economic rent even is, even though bank robbers are a part of our economy.
Well he is a moron; as usual in neo-classical fashion, he creates axiomatic expressions. Works great when you truncate your model to the goods and services economy.
A neo classical like the chump Anderson will take a bucket of water and pour it in the lake.
1=1
Well if I take a sandwich from a fat slob with juice dripping off his double chin and give it to a guy who is starving, do they not fill up the same crapper?
1 != 1
Dr Anderson has a jar of leeches, and he says they will cure you.
Printing money doesn't create more wealth. Its redistributes it. Here it the big BUT:
Whenever, then, the usual and ordinary rate of the profits of agricultural stock, and all the outgoings belonging to the cultivation of land, are together equal to the value of the whole produce, there can be no rent.
And when the whole produce is only equal in value to the outgoings necessary to cultivation, there can neither be rent nor profit. In the first settling of a country rich in fertile land, and which may be had by any one who chooses to take it, the whole produce, after deducting the outgoings belonging to cultivation, will be the profits of capital, and will belong to the owner of such capital, without any deduction whatever for rent.
...
It will be seen … that, in a progressive country, rent is not only absolutely increasing, but that it is also increasing in its ratio to the capital employed on the land; …The landlord not only obtains a greater produce, but a larger share.
Rent(7*) then is in all cases a portion of the profits previously obtained on the land. It is never a new creation of revenue, but always part of a revenue already created.
-David Ricardo
Thus redistribution, by an act of monetary fiat, may indeed dilute from the rentier to productive capital and labor. This will certainly have a real impact on total wealth including adding these lazy slobs back to the work force.
Look at the recent earthquake and letdown in Japan. They still think disasters stimulate growth through "shovel ready jobs"... These broken window fallacies has been refuted over and over. But yet these clowns still perpetuate them.
Look at the recent earthquake and letdown in Japan. They still think disasters stimulate growth through "shovel ready jobs"... These broken window fallacies has been refuted over and over. But yet these clowns still perpetuate them.
At least they clean things up unlike the turkey leg chewing, feudalistic monopolists who buy the dirt and charge you to shovel it. I am not even a Keynesian. He is just the favorite straw filling of the monopolist's scarecrow. .
Well he is a moron; as usual in neo-classical fashion, he creates axiomatic expressions. Works great when you truncate your model to the goods and services economy.
This from the same poster who said you can create wealth by simply printing money.
Tell me gwyn, have you been to Zimbabwe lately?
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