We "print" money all the time. It's called "cryptocurrency".
I mean...
We could just... Eat. The. Rich.
The US has such a huge pool of people using the dollar that when they do seigniorage they're essentially taxing the world instead of only their citizens. It's kind of obscene and why the imperialists are very hostile to BRICs.
She's not totally wrong
If we gave every American 1 billion dollars the current billionaires would lose massive amounts of power and it would help fix wealth inequality.
It would do nothing to wealth inequality. The assets the current billionaires own would just become valued at a trillion dollars, or even a quadrillion depending on how badly devalued the dollar became.
If they had their money scrooge mcduck style. But the assets they own will explode in value almost proportionally to the value of the dollar
That wouldn't work because the bilionaires don't have money, they have assets, AKA capital.
Do that and get ready for 100,000 dollars for a dozen eggs cause the market will charge what it knows the customer can pay.
this could be one of those bell curve memes where the low end and high end are the moron/jedi guys saying “just print more money” and the middle of curve has a freshman Econ student trying to explain macroeconomics.
Very good observation. On the high end of that bell curve, there's Modern Monetary Theory (MMT): https://en.wikipedia.org/wiki/Modern_monetary_theory
I came here to say this. I thought humans made the rules!
The world is run by middle-of-the-curve people.
As someone two standard deviations above the mean height, the tyranny of the average is real
Yeah, exactly what I was thinking. Like, it isn't quite as simple as "print $1m for everyone and they can all go out and buy Ferraris." But, there are plenty of situations where the government can just print the money and it won't cause inflation or any other harmful effects.
There's a line from (I think) a Tyler Perry movie that goes "The only thing reparations will do is make Cadillac the best selling car in the country."
Printing more money and using it for public works or giving it directly to the poor could be a valid form of wealth redistribution that doesn't require collecting taxes. The problem of course is capital, it's immune to this kind of inflation, though rich people who have their wealth in debt would be hurt.
To be fair, Economics is half imagination and magic. It’s why something like bitcoin could even become a thing.
One of the main things I learned during my economics degree is that money is fake.
To quote Brian Brushwood, "It's just pieces of paper that we believe in."
Money is made up, but it's definitely real. Magic is made up and fake. If it actually exists and does something, it's real. You can bring something from non-existence and make it real. It has no intrinsic value.
Money is an intersubjective reality, like nations, religions, and ghosts.
Money is fancy IOUs, that people mostly believe will be repaid.
Price of gold goes Brrrrrrrrrrrrrrrtrtrtttrtrtttrrtrrtrtrttrr
The funny irony is that because money is mostly made up bullshit anyway, we kinda could just decide to print more money and keep its value. Granted, it would take the unanimous agreement of basically everyone on this silly little planet, so the chances of this ever occurring are effectively absolute zero, but still, there is no actual rule that says we cant except for the ones we ourselves created
All government spending is done by "printing money", at least in monetary sovereign countries like the US, UK, and other countries issuing their own cureencies. The government is the monopoly issuer of the currency and cannot run out of it, just like the scorekeeper of a baseball match cannot run out of points. Taxes are also not for funding the government, but for removing momey from circulation, precisely to curb inflation. (Also to drive the value of the currency by making people demand it to be able to pay their taxes). Thus "printing money" isn't in itself inflationary, as long as the newly created money is spent on something where there is excess production capacity. The question for the government is never "can we afford it", but rather "are the real resources there to achieve it".
I think the problem isn’t that there is a lack of money which could be solved by printing more, but that there is a lack of money because like 6 guys have stolen most of it and piled it up under their mattresses with no intention of actually using it at any point.
Prices should be set by the king tho, the only acceptable rate of inflation is zero.
Humans do make the rules, unfortunately only some of them get the chance to so they made the rules favor themselves.
The problem here is that a government does not in fact have the ability to decide how much their currency is valued, they can only indirectly influence it. When they try to pretend like it's just a "rule" they can set like "here is the mandated exchange rate, we'll put you in jail if you make trades at any other price" is when things get real stupid.
Have you peeps never heard of modern monetary theory (mmt)? Macroeconomics is not so simple! Most people talking about have the knowledge of a minor in business econ though
I mean. Yeah honestly, lol
We can, and we do, for virtually everything.
That’s precisely why the DOGE takeover of the payment system is so scary. Government money isn’t being transferred from some limited pool of taxpayer funds, it’s spent into existence out of thin air.
We also borrow, in the form of bonds, but that’s mostly to tame inflation by taking currency temporarily out of circulation with the promise of a later profit for the bond holder. (And also to encourage long-term investment in domestic currency.)
Well, who ever created money can just uncreate it and we end capitalism, eat the rich and have a better planet
Sure buddy.......
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