Lester Golden
1 min readDec 14, 2020

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Update MMT with JMK's aphorism about paying people to dig ditches and refill them, but make the ditches pay off like the TVA and WWII did. The teamwork learned in war fueled postwar productivity. High deficits to build essential infrastructure financed with ZIRP or near zero rates get high returns--a virtuous circle. Examples: the TVA, DARPA, the interstate highway system, fed-financed biotech research (socialism for big pharma), land grant colleges, the GI Bill. So updating JMK's permanent boom idea with MMT makes sense. The question is how to convince our neo-confederate and flyover state economic illiterates to accept it without the pretext of a war or a pandemic (hot or cold). Their dog in the manger barking about "those people" jumping the queue for MMT-financed govt investment cancel the MMT party for us all. Canada has no Alabama and Germany's is BMW-enriched Bavaria. 41 senators representing 11% of Americans veto everything. Try to solve this 18th century England-style rotten borough problem without giving California 5 more senators, Florida, NY and Texas 2, 2 and 3 more and giving each state only one senator each and making DC and Puerto Rico states.

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Lester Golden
Lester Golden

Written by Lester Golden

From Latvia & Porto I write to share learning from an academic&business life in 8 languages in 5 countries & seeing fascism die in Portugal&Spain in1974 & 1976.

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