[lbo-talk] Money

Doug Henwood dhenwood at panix.com
Sat Aug 6 11:39:40 PDT 2011

On Aug 6, 2011, at 1:53 PM, Steve Bruns wrote:

> I guess a larger question then is why is such an artificial fiscal constraint tolerated or even seen as useful? Is it to provide the investor class a risk-free parking spot for excess cash? A way of funneling tax dollars to the overclass?

Because over the long term you just can't create money out of thin air and have it be effective. You need to shift real resources - out of Jaguars and third houses and into child care and high-speed rail. Money is a symbol of the real - a claim over resources and labor.


More information about the lbo-talk mailing list