this post was submitted on 18 Oct 2024
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[โ€“] DarkCloud@lemmy.world 4 points 4 weeks ago* (last edited 4 weeks ago) (2 children)

Hehehe, now to write a giant wall-of-text no one will read >:)

Capitalism co-opts and usurps all other value systems in society. It takes those values, reduces them to money, repackages them, and re-sells them as a market that can be cornered.

From hippie shops, to far-left news, or YouTube monetizing the popularity of the latest anti-capitalist sentiments.

This idea that Capitalism creates an inescapable system, which then makes culture one of it's tools and creates inescapable outlooks/mindsets/cultures is written about in Frankfurt School theorist Herbert Marcuse' book; 'One-Dimensional Man' (yes there are summary explanations of the book/theory available on YouTube).

There's surely some room for escape? One possibility might be the popularization and adoption of Modern Monetary Theory (MMT), which essentially states that a sovereign currency only puts its self in an inflationary competition with private industry if it's competing with private industry for resources.

So for instance there's no private industry focused on providing for the homeless, so you can (in Modern Monetary Theory's perspective) give money too homeless people without an increase to inflationary pressures (private interests and capitalists aren't seeking to do this, because there's no competive market in doing this so the government wouldn't be causing a price inflation bidding war with them by doing it). As an example for what you can't do - you can't (as a government using MMT) outbid construction companies for Timber in order to build houses (because outbidding private construction companies will push the price of Timber up causing inflation).

So it's ONLY stuff there's a limit of raw materials on, where the government could use it's infinite supply of money to outbid private industry that would cause price inflation. That's where the government can't just spend willy nilly.

This knowledge makes it clearer what government can put massive amounts of funding into - without harming the economy or causing hyper inflation, and what it can't. It definites the safest areas to spend in without any real risk of causing hyperinflation.

This means you could pay homeless people a UBI - and MMT states it won't cause inflation. By making this distinction (between price inflationary pressure and non-inflationary pressure) MMT helps make clearer what the government can pour direct aid on, vs what will be a matter of creating an outbidding competition with private interests (eg.something that causes price inflation).

Modern Monetary Theory (MMT) is based on historical studies and examples of how money has actually been used and functioned in past societies and situations. It makes clear there are lots of places that with proper regulation and oversight the government could fund massive improvements in without price inflation or damaging the economy.

Public transport might be another example, it'd be fairly safe to have a government funded monopoly on public transport as it's unlikely to compete with private industry for resources in a price-inflationary raw resource based manner.

[โ€“] MajorHavoc@programming.dev 4 points 4 weeks ago

Public transport might be another example, it'd be fairly safe to have a government funded monopoly on public transport as it's unlikely to compete with private industry for resources in a price-inflationary raw resource based manner.

That would be so nice, too.