‘The economy’ is the idea that societies will run themselves, if you don’t regulate them in any way. A…

‘The economy’ is the idea that societies will run themselves, if you don’t regulate them in any way. A political invention, not economic. The fiction is maintained only by vast quantities of debt. This, the US. 1/2 https://t.co/6LOG8nCPYB https://t.co/qj5ufHpJHW

The absence of basic coordination of the services societies require is papered over by offering cheap debt to everybody to try to buy those services themselves. See the dramatic rise in debt at the same time the politics of ‘small government’ took off, from the late-1970s. /end