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Tim Worstall — Can we just inflate the economy into paying for socialism?

Summary:
Another rant from Tim Worstall. If we can't get the rich to pay for all this democratic socialism the Left would give us these days, then how are we going to pay for it? Up pops that other current bright idea, modern monetary theory: We just print the money and go spend it. It is actually true that nobody has ever had socialism paid for by the rich, so it's good to have an alternative idea out there. It's even true that modern monetary theory works, in theory.The only problem is when we add in these odd people, us humans, it fails. Variant of the noble lie.Washington ExaminerCan we just inflate the economy into paying for socialism? Tim Worstall

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Another rant from Tim Worstall.
If we can't get the rich to pay for all this democratic socialism the Left would give us these days, then how are we going to pay for it? Up pops that other current bright idea, modern monetary theory: We just print the money and go spend it. It is actually true that nobody has ever had socialism paid for by the rich, so it's good to have an alternative idea out there. It's even true that modern monetary theory works, in theory.
The only problem is when we add in these odd people, us humans, it fails.
Variant of the noble lie.

Washington Examiner
Can we just inflate the economy into paying for socialism?

Tim Worstall
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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