alanjjohnstone wrote:Graeber

[ALB]

alanjjohnstone wrote:

Graeber in the Guardian seiing on the reporthttp://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity.The actual report can be read herehttp://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q102.pdf

Someone else making the same criticismas us of Graeber here:http://libcom.org/forums/theory/has-david-graeber-become-currency-crank-22032014?page=2#comment-536963Especially, this:

Quote:

But more to the point, the argument about the possibility of a Keynesian fix for the crisis doesn't really have anything to do with the BoE "letting the cat out of the bag" about how money is created. It's not at all obvious – and imho Graeber doesn't come close to demonstrating – why an acknowledgement of how money creation works means austerity is unnecessary and basically limitless money can be conjured up to fund social programs.