polisciguy:

money is a public good.

growth is not zero-sum.

what do those two fundamental precepts of political economy mean?

when the central bank creates MORE money, it does not cost YOU or ME anything at all. it is not “taken” from anyone.

how do we KNOW that is the case? because economies have grown! if it DID cost you or i when central banks created money, economies would have grown at NEGATIVE rates from the dawn of modern history. for every dollar THEY printed, we would have lost a dollar, and economies would have SHRUNK.

of course, that is NOT what happened. exactly the OPPOSITE did. economies grew because central banks were able to create money more or less in line WITH the economy’s DEMAND for it.

i understand that Medium is a hot-bed of self professed politics and economics “experts”, who are mostly just political fanatics, usually extremist libertarians, in disguise. they do not understand how the world actually works.

i STRONGLY recommend that you crack open a fucking book, and learn something. your knowledge of political economy is not just zero, but less than zero.

i’m sorry to harsh on you. but this kind of comment is exactly why society is in decline. it’s one thing not to know what you’re talking about. it’s another to pretend that you do.

thanks,

umair