This is the type of nonsense we get without basic understanding of economy: Government is recommended to lure businesses to close by offering them money. There are many problems with this, including where that money comes from, but the greatest is the upending of what https://twitter.com/wef/status/1335569777272688646
economy means. By establishing a payment system based on paying off *producers*, government effectively does away with consumer sovereignty. Businesses remain in business and earn profits because consumers value what they have to offer. When consumers don't, then the business
fails. Like so many other schemes, this pretend-smart nonsense by @CEPS_thinktank and @WEF mistake the market economy for production management. Suggesting to pay off producers to not produce effectively shift the determination of the production structure away from consumer wants
to producer preference. If (a big if!) they can somehow manage to keep production of necessities intact, it still means an overall reduced value of the output produced. Because consumers no longer determine the fate of producers. Central planners never get this essential point.
You can follow @PerBylund.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:

By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.