Quotulatiousness

March 19, 2019

The Russian Civil War in Early 1919 I THE GREAT WAR

Filed under: History, Military, Russia — Tags: , , , , , , — Nicholas @ 04:00

The Great War
Published on 18 Mar 2019

Check out The Great War Miniatures Game: http://bit.ly/BattlefrontMiniatures

Use “greatwarchannel1” for 25% off of the Great War Game Book
Use “greatwarchannel2” for 10% off of any Army Deal plus free shipping worldwide.

The biggest conflict, or rather series of conflicts, that had their roots in the First World War are today known as the Russian Civil War. After the October Revolution the Bolsheviks under Vladimir Lenin and Leon Trotsky fought all across the former Russian Empire to consolidate their power.

» SUPPORT THE CHANNEL
Patreon: https://www.patreon.com/thegreatwar
Merchandise: https://shop.spreadshirt.de/thegreatwar/

» SOURCES
Figes, Orlando. A People’s Tragedy. The Russian Revolution (London: The Bodley Head, 2017 [1996]).

Mawdsley, Evan. The Russian Civil War (New York: Pegasus Books, 2005).

Robert Gerwarth, The Vanquished. Why the First World War Failed to End, 1917-1923 (Penguin, 2017)

Gattrell, Peter. Russia’s First World War (Pearson, 2005).

Leonhard, Jörn. Der überforderte Frieden. Versailles und die Welt 1918-1923 (CH Beck, 2018).

Lloyd George, David. The Truth About the Peace Treaties, vol 1, (London: Victor Glocancz, 1938).

Mawdsley, Evan. “International Responses to the Russian Civil War,” in 1914-1918 online.
International Encyclopedia of the First World War. https://encyclopedia.1914-1918-online…

Peeling, Siobhan. “War Communism,” in 1914-1918 online.
International Encyclopedia of the First World War. https://encyclopedia.1914-1918-online…

Smele, Jonathan. The ‘Russian’ Civil Wars 1916-1926 (London: Hurst, 2015).

Sumpf, Alexandre. “Russian Civil War,” in 1914-1918 online.
International Encyclopedia of the First World War. https://encyclopedia.1914-1918-online…

Volkov, Evgenii. “Czech Legions,” in 1914-1918 online.
International Encyclopedia of the First World War. https://encyclopedia.1914-1918-online…

» SOCIAL MEDIA
Twitter: https://twitter.com/WW1_Series
Reddit: https://reddit.com/r/TheGreatWarChannel

»CREDITS Presented by: Jesse Alexander
Written by: Jesse Alexander
Director: Toni Steller & Florian Wittig
Director of Photography: Toni Steller
Sound: Toni Steller
Editing: Toni Steller
Mixing, Mastering & Sound Design: http://above-zero.com
Motion Design: Christian Graef – GRAEFX
Maps: Daniel Kogosov (http://patreon.com/Zalesky)
Research by: Jesse Alexander
Fact checking: Florian Wittig
Channel Design: Alexander Clark Original Logo: David van Stephold

A Mediakraft Networks Original Channel

Contains licenced material by getty images
All rights reserved – Real Time History GmbH i.Gr. 2019

The dangers of over-relying on new technology

Filed under: Cancon, Military, Technology — Tags: — Nicholas @ 03:00

Ted Campbell discusses one of the potential problems when military organizations depend too much on new tech working as advertised by the developer:

I have been a constant critic, in these pages, and in other fora, of the Canadian military’s command and control (C²) superstructure. I believe it is overly complex and bureaucratic, too top heavy and it is ‘fat,’ even, I have said, morbidly obese. I think Canada has far, far too many admirals and generals, almost all (except for, perhaps, a half dozen, at most) being one or two ranks higher than is needed for the job they do, in too many headquarters that do little of value except talk to at each other. I believe our C² has more do do with trying to emulate our (equally grossly obese) neighbour to the south than with meeting the needs of Canada.

The solution to the C² obesity problem is about 99% political … it needs a minister who will direct the Chief of the Defence Staff to chop something between ⅓ and ½ of the admirals and generals and commodores and Navy captains and Army and Air Force colonels and many of the HQs in which they sit. Of course that will require a massive (and overdue) revision to the entire military remuneration system so that admirals and colonels and corporals and privates, too, all get paid, appropriately well, for what they do for Canada. That needs to be agreed, by the prime minister, before the Minister of National Defence orders give the order to “chop.”

But that’s the top level problem and I have, I think, ranted on enough about it … my readers will either agree or not.

I believe, as I said the other day, that there is also a serious problem at the operational and tactical levels of the military, and it involves more than just command and control (C²), it involves the command, control and communications (C³) systems and, especially, the degree to which they are reliant on modern electronics and, especially, yet again, the electro-magnetic spectrum to establish a global information network upon which the military is nearly totally reliant. When, not if, “nearly totally reliant” becomes over-reliant, as I believe is now the case, and is most pronounced, the military sometimes uses the acronym C4I, meaning command, control, communications, computers and intelligence or worse, C4I2 which means command, control, communications, computers, intelligence and interoperability according to the US Department of Defense Dictionary of Military and Associated Terms. The mere fact that we seem to want to assign fancy acronyms to a few aluminium and plastic boxes full of solid sate circuits seems to me to indicate that we don’t actually understand that, beneath the blinking lights and flashy displays is a process than, in many respects, is little changed from what we did 75 years ago. The need to manage and handle information is unchanged, the technology we can use to do those things has changed.*

The problem, as I see it, is that the modern military is fascinated with what technology can do ~ and it can do a lot of really useful things ~ but are less willing to understand its limitations.

Don’t get me wrong: I think computers are wonderful; they make many mundane but time consuming tasks easy to accomplish in the blink of an eye. Ditto for radios and radars which seem to erase distance as show us things that used to be invisible. But all technology comes at a price … sometimes, as in the world of electronic warfare (EW), the price is fairly easy to understand: if you say anything on your radio then a modestly sophisticated enemy can, quickly and accurately, locate your exact position and send artillery or sir strikes your way; or the enemy can ‘spoof’ your communications networks, feeding false information into it and spreading confusion. The enemy can, also, use the radio spectrum to gain access to (hack) your computer network and make you deceive yourself. Or the threats may be physical, like the anti-satellite networks, such as the Chinese are developing, which according to Lieutenant General Jay Raymond of the United Stares Air Force, mean that “soon every satellite in every orbit will be able to be held at risk.” Our, Canadian and allied, national surveillance and air defence systems use satellite networks as do our strategic command and control (C²) networks which manage Canada’s armed forces at home and overseas. Even the most modern “networked” systems might be rendered deaf and blind.

Last German Panzer Battle – Six Day War 1967

Filed under: Germany, History, Middle East, Military — Tags: , , , , — Nicholas @ 02:00

Mark Felton Productions
Published on 9 Feb 2019

WW2-era German Panzers last saw combat during the Six Day War in 1967, when Syria used them against Israel on the Golan Heights. Discover how Syria was able to acquire so many WW2 German vehicles and how they fared in combat against IDF Shermans and Centurions.

Credits: Bukvoed, Mark Felton Productions, YouTube Creative Commons, Google Commons, Panzers in the Golan Heights – wwiiafterwwii

QotD: Celebrity intellectuals

Filed under: Books, Media, Quotations — Tags: , — Nicholas @ 01:00

Tyler Cowen posted his latest Conversations with Tyler. His guest was Malcolm Gladwell, the famous gadfly and popularizer of the blank slate. Of course, Cowen slobbers all over him, because that’s what good thinkers are supposed to do when they get to meet someone like Gladwell. It’s a way of letting the other good thinkers know you are not the sort that colors outside the lines. Gladwell is one of those guys who is more famous for what he represents than anything he has said or written.

Celebrity intellectuals are not famous because they have offered up a great insight or discovery. There’s no money in that. New ideas challenge the orthodoxy. The people with the money to help an aspiring celebrity intellectual live the sort of life they deserve tend not to like challenges to the orthodoxy. Instead they gravitate to people who confirm that the current arrangements are as the heavens ordained. That’s Gladwell. His celebrity is rooted in his ability to flatter the Cloud People.

The typical path to celebrity for these guys is not much different than the way mediocre comics get rich and famous. The game is to flatter the right audience. Making a bunch of bad whites in the hill country feel good about themselves is not a path to the easy life. You can make a nice living, but you’re not going to be doing Ted Talks or getting five figures to do the college circuit. Figure how to let the Cloud People on the Upper West Side feel like champions and you have the golden ticket.

The Z Man, “The Fading Star”, The Z Blog, 2017-03-16.

March 18, 2019

The Phoney War: Actually Not Phoney

Filed under: Britain, Europe, History, Military, WW2 — Tags: , , , , — Nicholas @ 04:00

Historigraph
Published on 16 Mar 2019

Join us in #WarThunder for free using this link and get a premium tank or aircraft and three days of premium time as a bonus: http://v2.xyz/WarThunderWithHistorigraph

If you enjoyed this video and want to see more made, consider supporting my efforts on Patreon: https://www.patreon.com/historigraph

Reconciling the libertarian and anti-immigration wings of Maxime Bernier’s PPC

Filed under: Cancon, Liberty, Politics — Tags: , , , — Nicholas @ 03:00

In the Post Millennial, Brad Betters looks at how the PPC’s libertarian ideals co-exist with skepticism about current government immigration plans:

While there are many patterns of abuse in the mass media’s everyday coverage of Maxime Bernier — i.e. the constant comparisons to Donald Trump, the failure to actually engage with his policies, quoting those who accuse him of “pandering”, while failing to quote his supporters (although there is the occasional exception) — one that jumps out is the routine questioning of his ideological bona fides.

Being ideologically inconsistent is a serious charge for many among Bernier’s base. While not a concern for liberals and progressives (they just want power and results), it is for many conservatives, even if it means becoming “beautiful losers”, as one US conservative commentator put it years back.

Recently, the National Post’s John Ivison referred to Bernier’s party, the People’s Party of Canada (PPC), as being plagued by a “fundamental contradiction” in that it’s “led by a libertarian free-marketer and supported by anti-globalists.”

Although vague, Ivison is no doubt, at least in part, referring to the PPC’s call to reduce immigration levels. His Post colleague Stuart Thomson was more express, calling Bernier’s immigration position “a diversion from his ideological playbook” — a criticism repeated by Global News’ West Block host Mercedes Stephenson among others.

In calling to reduce immigration, Bernier is being perfectly faithful to free-market thought. Importing workers from abroad, if high enough, can lead to supply shocks in the domestic labour market, weighing down and distorting wage rates in the process — indeed, economists are mystified why wages in Canada have flatlined despite years of growing GDP.

For large employers, these expansions can lead to giant windfalls and a chance to avoid facing market discipline — i.e. by not innovating or offering the wages needed to draw in new workers. Markets which are expanded artificially are not “free”, and profits pumped-up with the help of government we usually call ‘subsidies’: two things free-marketer libertarians revile.

Equally reviled among libertarians is ‘big government’; something that goes hand in hand with mass immigration. Large populations with diverse languages, cultures, and religions serve as a perfect excuse for new government programs and bureaucratic meddling: from government-funded language instruction, translators, and signage, to more housing and educational and job-training initiatives for unprepared newcomers.

Overlaying all this is the array of government watchdogs mandated to ensure immigrating visible minorities get the requisite (i.e. ever-increasing) amount of cultural sensitivity and achieve economic parity with old-stock Canadians.

6 Worst British Rulers – Anglophenia Ep 8

Filed under: Britain, History, Religion — Tags: , , — Nicholas @ 02:00

Anglophenia
Published on 15 Jul 2014

Britain has had a number of great kings and queens, but also some truly terrible ones. Siobhan Thompson looks at the worst of the worst.

QotD: The eternal bad bet that was feudalism

Filed under: Government, History, Quotations — Tags: , — Nicholas @ 01:00

From time immemorial, the reigning myth of rule has been that the rulers provide a quid pro quo: in exchange for the people’s submission and payment of tribute, the rulers protect the people from the enemies who lurk “out there.” The promise was often unfulfilled, however. The lord of the manor might well flee into his castle, leaving the peasants outside the walls to suffer whatever outrages an invader chose to wreak on them. Or the lord might haul them off to a distant war in which they had no real interest, merely to satisfy the lord’s feudal obligation to the baron or duke just above him in the feudal pecking order.

Most important, however, is the sheer fact that the ordinary people’s most dangerous enemy, the one by far the most likely to plunder and abuse them, was their own impudent lord, the selfsame “nobleman” who forbade them to leave their place of birth or to engage in a variety of tasks and pleasures they might prefer — that is, the man who held and exploited them in a condition of serfdom.

Robert Higgs, “I Reject the Right of the Government to Choose My Friends and Enemies for Me”, The Beacon, 2017-04-03.

March 17, 2019

Irish Potato Famine – The Young and the Old – Extra History – #5

Filed under: Britain, Food, History — Tags: , , , — Nicholas @ 09:00

Extra Credits
Published on 16 Mar 2019

Irish leaders entered the picture when the 1847 Poor Laws backfired, leading landowners to mass-evict their starving tenants. Daniel O’Connell tried to maintain an alliance with the Whigs, and failed. The Young Irelanders split off from the Repeal Association, and as a result, both the rebellious and the moderate minds of the country lost significant traction, unable to fight the famine alone.

Apologizing for the Crusades

Filed under: History, Middle East, Religion — Tags: , , — Nicholas @ 05:00

Perhaps our media-seeking politicians and activists are running out of other things to apologize for, so next on the apology tour may well be the Crusades:

Wherever one looks, the historic crusades against Islam are demonized and distorted in ways designed to exonerate jihadi terror. “Unless we get on our high horse,” Barack Obama once chided Americans who were overly critical of Islamic terror, “and think this [beheadings, sex-slavery, crucifixion, roasting humans] is unique to some other place, remember that during the Crusades and the Inquisition, people committed terrible deeds in the name of Christ.”

Others, primarily academics and self-professed “experts,” insist that the crusades are one of the main reasons modern day Muslims are still angry. According to Georgetown University’s John Esposito, “[f]ive centuries of peaceful coexistence [between Islam and Christendom] elapsed before political events and an imperial-papal power play led to [a] centuries-long series of so-called holy wars that pitted Christendom against Islam and left an enduring legacy of misunderstanding and distrust.”

Nor is this characterization limited to abstract theorizing; it continues to have a profound impact on the psyche of Westerners everywhere. Thus in 1999 and to mark the 900th anniversary of the crusader conquest of Jerusalem, hundreds of devout Protestants participated in a so-called “reconciliation walk” that began in Germany and ended in the holy city. Along the way, they wore T-shirts bearing the message “I apologize” in Arabic. Their official statement:

    Nine hundred years ago, our forefathers carried the name of Jesus Christ in battle across the Middle East. Fueled by fear, greed and hatred … the Crusaders lifted the banner of the Cross above your people … On the anniversary of the first Crusade, we … wish to retrace the footsteps of the Crusaders in apology for their deeds … We deeply regret the atrocities committed in the name of Christ by our predecessors. We renounce greed, hatred and fear, and condemn all violence done in the name of Jesus Christ.

After outlining the Western concept of “Just War” in contrast to the Islamic concept of “Jihad”, Raymond Ibrahim puts the Crusades into historical context:

From the very start, at Clermont in 1095, Pope Urban never offered forgiveness of sins (but rather remission of the penances for sins to which crusaders had already confessed). Those who took the cross were required to be sincerely penitent.

This is a far cry from what Muslims were (and are) taught about fighting and dying in jihad: Every sin they ever committed is instantly forgiven, and the highest level of paradise is theirs. “Lining up for battle in the path of Allah,” Muhammad had decreed in a canonical hadith, “is worthier than 60 years of worship.” Muhammad also said, “I cannot find anything” as meritorious as jihad, which he further likened to “praying ceaselessly and fasting continuously.” As for the “martyr” — the shahid — he “is special to Allah,” announced the prophet. “He is forgiven from the first drop of blood [he sheds]. He sees his throne in paradise. … Fixed atop his head will be a crown of honor, a ruby that is greater than the world and all it contains. And he will copulate with seventy-two Houris.” (The houris are supernatural, celestial women — “wide-eyed” and “big-bosomed,” says the Koran — created by Allah for the express purpose of gratifying his favorites in perpetuity.)

Crusader motives also had to be sincere: “Whoever shall set forth to liberate the church of God at Jerusalem for the sake of devotion alone and not to obtain honor or money will be able to substitute that journey for all penance,” Urban had said. Similarly, Spanish Prince Juan Manuel (d. 1348) explained that “all those who go to war against the Moors in true repentance and with a right intention … and die are without any doubt holy and rightful martyrs, and they have no other punishment than the death they suffer.”

In this, Christian war significantly departed from Islamic jihad. Allah and his prophet never asked for or required sincere hearts from those flocking to the jihad; as long as they proclaimed the shahada — thereby pledging allegiance to Islam — and nominally fought for and obeyed the caliph or sultan, men could invade, plunder, rape and enslave infidels to their hearts’ content.

The cold, businesslike language of the Koran makes this clear. Whoever wages jihad makes a “fine loan to Allah,” which the latter guarantees to pay back “many times over” in booty and bliss either in the here or hereafter (e.g., Koran 2:245, 4:95, 9:111). “I guarantee him [the jihadi] either admission to Paradise,” said Muhammad, “or return to whence he set out with a reward or booty.”

In short, fighting in Islam’s service — with the risk of dying — is all the proof of piety needed. Indeed, sometimes fighting has precedence over piety: Many dispensations, including not upholding prayers and fasting, are granted those who participate in jihad. Ottoman sultans were actually forbidden from going on pilgrimage to Mecca — an otherwise individual obligation for Muslims, especially those who can afford it, such as the sultan — simply because doing so could jeopardize the prosecution of the jihad.

Little wonder that, whereas there was never a shortage of Muslims willing to participate in a jihad, “85-90 percent of the Frankish knights did not respond to the pope’s call to the Crusade,” explains Tony Stark, and “those [10-15 percent] who went were motivated primarily by pious idealism.”

Little wonder that there are still countless jihadis today but no crusaders.

The Soviets Finish a Costly Winter War – WW2 – 029 – March 16 1940

Filed under: Europe, History, Military, Russia, WW2 — Tags: , , , , , , — Nicholas @ 04:00

World War Two
Published on 16 Mar 2019

The Winter War is over. The Allies tried to stall the Finns for as long as possible to justify their invasion of Norway, but the Finns have had it and don’t trust the British and French to come to their aid. This week, the Finns sign a peace agreement with the Soviet in Moscow.

Join us on Patreon: https://www.patreon.com/TimeGhostHistory
Or join The TimeGhost Army directly at: https://timeghost.tv

Follow WW2 day by day on Instagram @World_war_two_realtime https://www.instagram.com/world_war_t…
Between 2 Wars: https://www.youtube.com/playlist?list…
Source list: http://bit.ly/WW2sources

Written and Hosted by: Indy Neidell
Produced and Directed by: Spartacus Olsson and Astrid Deinhard
Executive Producers: Bodo Rittenauer, Astrid Deinhard, Indy Neidell, Spartacus Olsson
Creative Producer: Joram Appel
Research by: Indy Neidell
Edited by: Iryna Dulka
Map animations: Eastory

Photos of the Winter War are mostly from the Finnish Wartime Photograph Archive (SA-Kuva).

Eastory’s channel: https://www.youtube.com/channel/UCEly…
Archive by Screenocean/Reuters https://www.screenocean.com

A TimeGhost chronological documentary produced by OnLion Entertainment GmbH.

Brexit delayed is Brexit denied

Filed under: Britain, Europe, Politics — Tags: , , , , — Nicholas @ 03:00

At Spiked, Mick Hume looks at the likely outcome of yet another Brexit betrayal by parliamentary remainers:

The vote to delay / bugger Brexit is a betrayal of the major parties’ promises, but not of their principles. This, after all, is what the overwhelming Remainer majority of MPs wanted all along. Behind all the divisions and parties-within-parties revealed by this week’s parliamentary shenanigans, there remains a clear anti-Brexit majority among MPs, aided and abetted by conniving Speaker John Bercow, and bugger whether their constituents backed it or not.

The final resolution remains uncertain. All options are still technically on the table; the UK remains legally committed to leaving on 29 March unless and until the law is changed. However, things look grim for a meaningful exit; some Tory Brexiteers and the DUP are making vague noises about using Article 62 of the Vienna Convention (oh yes, that old chestnut!) as an excuse for backing May’s deal next week, while Labour’s arch-Remainer buzzards are circling.

But however its planned betrayal of Brexit pans out, the political class cannot delay its own day of reckoning forever. The naked contempt politicians have displayed for voters and popular democracy will not go unrewarded. The Leave revolt has let the democratic genie out of the bottle, and it will not easily be shoved back in.

If Remainers get their long extension, for a start, it should mean that the UK has to hold Euro elections in May. See Brendan O’Neill’s podcast interview with Nigel Farage for a hint at the fun the latter’s newly registered Brexit Party could have with those.

The chaos surrounding this week’s vote to delay and betray Brexit is a microcosm of the dire state of official UK politics. It confirms that both major zombie parties are deeply divided, and that May’s government does not have authority within its own cabinet room, never mind in the country at large. The old political order is falling apart under the pressures of trying to contain the democratic revolt for Brexit.

Amid all this rancour and uncertainty, one thing remains clear: how right Leave voters were to vote to take back control from the demos-loathing EU elites and their allies in the UK’s ‘Bugger Brexit’ alliance.

Book Review: FN Browning Pistols by Anthony Vanderlinden

Forgotten Weapons
Published on 17 Feb 2019

Get your copy here:
https://www.wetdogstore.com/NEW-FN-BR…

Anthony Vanderlinden is a noted FN collector and author of a book on FN Mauser rifles as well as this volume on FN’s Browning pistols. Both are excellent reference works, with a remarkable amount of contextual information in addition to the very specific detail that appeal to the collector. This work begins with about 70 pages on the history of the FN company, detailing its work in firearms, automobiles, and other products through the Great War, the Great Depression, World War Two, and other events. It then spends a period discussing unique and interesting FN pistols, like the presentation guns made for FN’s celebration of producing a million Browning pistols and the guns used by Gavrilo Princip and his cohorts in the assassination of the Archduke Franz Ferdinand. There are then sections on FN’s association with John Browning and on Browning himself, and on the markings and proofs used by FN throughout its history.

The remaining bulk of the book is broken up into chapters covering the development, production, and use of each model of Browning pistol produced by FN (namely the 1899/1900, 1903, 1905, 1910, 1922, Baby Browning, and High Power). These chapters do an excellent job of providing information on the early development of the guns as well as the commercial and military production, often broken down by the different contracts for each model. For instance, the 1922 chapter includes sections on Yugoslav, Dutch, Mexican, Greek, Turkish, French, Romanian, Danish, Finnish, and German procurement of those pistols. For the historian, the context presented does an excellent job of explaining each gun’s significance in larger events. For the collector, the attention to the details of differences in marking and production between each different variant is thorough and very useful.

My only real complaint would be that the book is entirely in black and white. While that does not really hinder the purpose of the photographs in showing variations and such, color photographs would make it nicer to look at. The book was first printed in 2009, with a revised and expanded second edition printed in 2013. That second edition is available direct from Wet Dog Publications for $67.95 plus shipping, and also from Amazon.

http://www.patreon.com/ForgottenWeapons

Cool Forgotten Weapons merch! http://shop.bbtv.com/collections/forg…

Contact:
Forgotten Weapons
PO Box 87647
Tucson, AZ 85754

QotD: McGill University

Filed under: Cancon, Education, Humour, Quotations — Tags: , — Nicholas @ 01:00

… if the freedom to speak harsh truth and engage in adventurous social critique means nothing at McGill, it is doomed at younger universities — especially those that have materialized, or been promoted to new feudal rank, during the ongoing academic bubble era.

The stakes are high. We all enjoy a laugh at McGill’s perception of itself as the Canadian Harvard, but if there is one university from which others in our country are bound to take ethical and stylistic cues — well, McGill probably is Harvard.

Colby Cosh, “Scary Potter and the Chamber of Secrets: an alternate view of the storm engulfing McGill”, National Post, 2017-03-27.

March 16, 2019

MMT – Magic Money Theory

Filed under: Economics, Government, Politics — Tags: , , , , , , , — Nicholas @ 05:00

Antony Davies and James R. Harrigan explain just why so many progressives are so excited about MMT:

Modern Monetary Theory, or MMT, is all the rage in the halls of Congress lately.

To hear the Progressive left tell it, MMT is not unlike a goose that keeps laying golden eggs. All we have to do is pick up all the free money. This is music to politicians’ ears, but Fed Chairman Jerome Powell is singing a decidedly different tune. Said Powell recently on MMT, “The idea that deficits don’t matter for countries that can borrow in their own currency … is just wrong.”

MMT advocates see this as outdated thinking. We can, they claim, spend as much as we want on whatever we want, unencumbered by trivialities like how much we have. But MMT is a bait-and-switch wrapped in a sleight-of-hand. It focuses on debt and dollars rather than resources and products. Debt and dollars are merely tools we use to transfer ownership of resources and products. It’s the resources and products that matter. Shuffling debt and dollars merely changes the ownership of resources and products. It doesn’t create more.

[…]

So here’s the sleight of hand. MMT advocates say that we won’t experience inflation because the U.S. dollar is a reserve currency — foreigners hold lots of U.S. dollars. First, increasing the money supply, other things constant, does create inflation. But when a reserve currency inflates, the pain gets spread around the world instead of being concentrated within one country. In short, MMT advocates believe our government should print money and let foreigners bear some of the inflation pain. Second, there’s no law that says that the U.S. dollar must be a reserve currency. The British Pound was one, but as its value declined, foreigners stopped holding it. Foreigners will stop holding U.S. dollars too as their value declines.

And here’s the bait-and-switch. MMTers say that if inflation does become a problem, the government can simply raise tax rates to soak up excess dollars. In short, the government would print money with one hand, buying whatever it wants and causing inflation. It would then tax with the other, thereby removing dollars from the economy and counteracting the inflation. In the end, all that’s happened is that the government has replaced goods and services that people want with goods and services politicians want.

After a bout of MMT, we might have the same GDP and zero inflation, but what constitutes that GDP would have changed dramatically. Instead of having more cars and houses, we might have more tanks and border walls.

« Newer PostsOlder Posts »

Powered by WordPress