The economic discussion would be greatly improved if it were passably understood that what we call “the economy” isn’t some living, breathing machine that can be engineered. An “economy” is just people, it is individuals. And once it’s understood that it is individuals, understanding of how to achieve broad prosperity is exponentially simpler to grasp.
Reduced to people, no individual is made more prosperous if ever more of the fruits of his or her labor is taken in taxes. Just the same, individuals earn dollars. But in truth they earn the food, clothing, shelter, and luxuries that dollars can be exchanged for. Once this is understood, the absurd notion promoted by economists, politicians and pundits that “the economy” is improved by currency devaluation is quickly rendered absurd. And dangerous.
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