Re: Functional Finance

[tim canova <canova@xxxxxxxxxxxxx>]

yes, Mr. Ryan, repaying debt with newly printed money is the best of all
possible worlds.  i never disagreed on that front.  lowering taxes is
probably better than collecting taxes and using such tax revenues for debt
repayment.  but i still haven't heard a logical reason why the latter course
of action must necessarily be recessionary and lead to flight from the dollar.

instead Ryan keeps using Lerner to show his support for newly printed money.

2 last points:

(1)  as Ryan wrote in response to Louis Proyect (who had written: "Perhaps
it might help our discussion if Doug could find textual support in Marx for
such an odd concept.")
>
>At long last, Mr. Proyect admits what we already suspected, that Marxism
>is not a science but is really a religion, where "truth" is found only
>in Holy Scripture.

To Ryan, some scripture (Marx) is Scripture and other scripture (Lerner) is
just plain gospel.

even with all of Ryan's weighty quotations, he has not convinced me that
repayment of debt with tax dollars is inconsistent with functional finance.


(2)  Ryan wrote:
>  But to Mr. Canova, it probably depends on what the definition of
>"is" is.

here dunderhead Ryan is back to his lawyer bashing by innuendo.  i see why
many people leave PKT when someone like Ryan is more interested in personal
attacks than reasoned discussion of the consequences of a certain course of
action.  he was a rude SOB from the start, and he remains so.



Timothy A. Canova
Assistant Professor of Law
University of New Mexico
School of Law
1117 Stanford NE
Albuquerque, NM  87131-1431

Tel:  (505) 277-5654
Fax:  (505) 277-0068
e-mail:  canova@xxxxxxxxxxxxx