Tag Archive: Totalitarism

A blueprint for a European superstate

After intense negotiations, long days and nights of clashes and a distinctly sour note underlying the entire summit, European Union leaders finally agreed on an unprecedented 1.82 trillion-euro ($2.1 trillion) budget and COVID recovery package.

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Hard talk with Václav Klaus: “The people should say NO to all of it.”

As we get deeper into this crisis and we get used to our “new normal”, it’s easy to focus on the daily corona-horror stories in the media or the latest shocking unemployment numbers, and lose track of the bigger picture and of what is really, fundamentally important. Even as the lockdown measures begin to get phased out, the scale of the economic damage is unimaginable and the idea of returning to “business as usual” is no longer tenable.

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Modern Monetary Theory is an old Marxist Idea

Modern Monetary Theory, or “MMT”, has been getting a lot of attention lately, often celebrated as a revolutionary breakthrough. However, there is absolutely nothing new about it. The very basis of the theory, the idea that governments can finance their expenditures themselves and therefore deficits don’t matter, actually goes back to the Polish Marxist economist, Michael Kalecki (1899 – 1970). 

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