>
> If you have eight different provinces each printing money that
> circulates throughout the country, each province will print a hell of
> a lot of money--the real resources to pay the librarians, teachers,
> and other public sector workers come from reducing the value of money
> balances in the hands of the rest of Argentina's citizens, and so
> printing money is a way for each province to fund its spending by
> taxing others' citizens.
>
> Seems to me that what Naomi Klein is calling for is an immediate
> hyperinflation in Argentina. Does she know it?
>
>
> Brad DeLong
There are substantial real resources available to tax in order to pay the public sector workers, make monthly payments to the unemployed, and pay a monthly pension to all old people - including those not covered now by the social security schemes.
The total suspension of all foreign debt payments, and wealth (asset) taxes on those who have sent capital abroad and the giant corporations will be more than sufficient.
john mage