By using this site, you agree to our Privacy Policy and our Terms of Use. Close
sundin13 said:

EnricoPallazzo said:

 Left wing people from all over the world still think the government can just print money magically and give it to the people in the form of all benefits you can imagine and absolutely no consequence will come from that.

I would argue that this is an inaccurate interpretation of left wing economics. 

Generally, left wing economics advocates for the redistribution of wealth, not the printing of additional money. The goal is generally to encourage the flow of money from the rich to the poor, either through direct intervention such as taxation funding welfare, or indirectly by supporting the rights of workers.

This I agree with you, it should advocate for the redistribution of wealth, but what happens the vast majority of occasions is that left wing people/parties only advocate for increase in government spending which usually comes from debt or money printing. You basically condemn a whole generation to pay the debt over money you borrow/print today in the hopes that this money will bring social justice or increase economic growth and employment.

Funny thing is, nothing creates more inequality than governments doing it. Just compare a curve of inequality with the curve of money supply. It's not rocket science. All this money created along with negative interest rates ends up in the hands of big institutions and rich people, which then inflates heavily assets across the markets. Then young people can't buy houses anymore, assets are so inflated that it creates bubbles in the stock market with companies being valuated by unreal multipliers.

There is a saying that goes like: the right (from economics point of view) is the best to make the cake grow, but don't know how (or want to) to distribute the cake. The left is the best to distribute the cake, but don't know how to make it grow.

I wish the left could be less delusional and more focused on how to distribute the wealth but in a responsible way. Although to be honest the world has gone 100% crazy and even the right became huge irresponsible spenders.