Monday, April 12, 2021

fantasy-a as harmless and fantasy-b as painful

 Modern Monetary Theory will not make budgeting easy. We will always have tough debates about how to expend/invest our resources. There will always be liberals and conservatives frustrating each other. However, we can hope the quality of the debates will improve because they will be based on knowledge of how national finance actually works.

Exercise: Imagine a world in which everyone believes that the science of global warming is fundamentally sound, now laugh at yourself as you try to believe that in that world there would be neither anguish nor argument over what to do about it. 

A second exercise (a) Fantasize that pranksters take all the taxes gathered by U.S.A. government this year and throw them into the caldron of an active volcano. (b) Fantasize that pranksters take all your after-tax income income for this year and toss it too into the molten lava of a volcano. If you see fantasy-a as harmless and fantasy-b as painful you have seen what Kelton sees.

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