“ #China did not become a #technological powerhouse because its people burned the midnight oil. Rather, the #state invested strategically in #productivecapacity, deliberately cultivating #industrial #ecosystems the likes of which Europe has struggled even to comprehend.”

🧵3/ MMT recognises that the primary constraint on government spending is not financial, but rather the economy's real productive capacity. The key concern is avoiding inflation that could result from spending beyond this capacity. #MMTEconomics #ProductiveCapacity

A dragon is slain. His hoard is not gold but a thresher (and an automated cotton loom). He shares his Adam-Smith-wisdom, wealth lies in productive capacity.

The #Wealth of Dragons

https://existentialcomics.com/comic/540

#economics #philosophy #AdamSmith #productiveCapacity

via https://fediscience.org/@davdittrich/112039657445206093