dalibor chrápek

A brutal misunderstanding of how money and government finances work is ruining peoples' lives.

For starters, read The Deficit Myth by @StephanieKelton

[dalibor chrápek @daliborchrapek]

You know nothing about economics until you understand at least this:

https://t.co/jTL89VMswo

https://t.co/QrwyTgb79z

https://t.co/9iJ8uzGlfy

https://t.co/rme4J2mRqZ

[kuno @kunoo]

Crypto explained in 24 seconds.

[dalibor chrápek @daliborchrapek]

@mmt_cz To není ani "slap on the wrist". To je "scratch behind the ear".

[Power to the People ☭🕊 @ProudSocialist]

This community note is incorrect. Trade is NOT capitalism. Trade simply moves goods around; capitalism dictates how those goods are produced and who owns the resulting wealth. I know it’s a hard concept for capitalists to grasp but you can have markets & trade without capitalism.

[dalibor chrápek @daliborchrapek]

@MichaelAArouet We don't get it because what you say is patently wrong and has been disproven like a million times 🙃

And since the point of taxes is to destroy wealth and purchasing power, you might be totally missing the point.

[dalibor chrápek @daliborchrapek]

@Awesomevideos07 Why does gender equality end here? What does the video have to do with gender equality?

[dalibor chrápek @daliborchrapek]

@Peta95087329 @mmt_cz @MazzucatoM Ne, není. Jak Vám to není jasné, mi není jasné. Matematika šestá třída. Ostuda.

[dalibor chrápek @daliborchrapek]

@Peta95087329 @mmt_cz @MazzucatoM Nemůžete dělit "dluh" a GDP, a vyplivnout procenta, když obě veličiny mají jinou jednotku :)

Koukněte tady, snad to pomůže:

[Jean Jacques Dessalines 🇭🇹🇵🇸🇳🇪🇲🇱🇧🇫🇨🇺 @JeanJacquesDes7]

Unironically using GDP to measure well-being and economic "success"

Ancom_ultrarunner

[dalibor chrápek @daliborchrapek]

@Peta95087329 @mmt_cz @MazzucatoM Pletete si provozovnu se státem. Pravděpodobně největší omyl mezi lidmi co se ekonomiky a státních financí týče.

Stát je curreny issuer, provozovna je currency user. Naprostý game changer.

Stát není od toho, aby měl profit. Je tady, aby zajišťoval služby.

[@mmt_cz @mmt_cz]

Kocourkovská debata o rozpočtu a "zadlužení" se vede všude. Hrozí, že rostoucí státní dluh znejistí finanční trhy tak, že přestanou spolupracovat? I pokud věříš, že to tak funguje a že se to stát může, v žádné vyspělé zemi se to nikdy v historii nestalo, říká prof. @MazzucatoM

[Relearning Economics @RelearningEcon]

The gold standard was not an automatic mechanism of stability. It was an automatic mechanism of austerity.

Gold convertibility did not prevent economic imbalances. It forced adjustment onto workers, debtors, and businesses whenever gold reserves came under pressure. Trade deficits, banking panics, or capital outflows could trigger higher interest rates, credit contraction, falling prices, rising unemployment, and business failures. The system's "discipline" was simply the inability of governments to respond.

The Bank of England's repeated rate hikes during the 19th century were not evidence of a self-correcting system. They were discretionary interventions designed to defend gold reserves, often at the expense of domestic economic activity. The supposed automaticity of the gold standard depended on central banks actively managing interest rates and financial conditions.

The claim that long-run price stability proves success ignores the enormous short-run instability experienced by ordinary people. Prices may have been roughly unchanged between 1821 and 1914, but that period contained repeated financial crises, banking panics, recessions, and prolonged episodes of deflation. Stable prices over ninety years meant little to a farmer or worker facing bankruptcy during a depression.

The famous specie-flow mechanism was also far less elegant in practice than in theory. Adjustment did not occur through frictionless price changes. It occurred through declining wages, falling incomes, unemployment, migration, and financial distress. Gold flows did not magically coordinate economies. They transmitted shocks across them.

The collapse of the gold standard was not the result of governments rejecting "sound money." It was the result of societies refusing to tolerate mass unemployment and economic contraction in order to maintain a fixed gold parity. During crises, governments repeatedly discovered that preserving employment, financial stability, and social order mattered more than preserving convertibility.

The real lesson of monetary history is not that money should be tied to gold. It is that economies are too complex to be governed by the availability of a precious metal. Modern monetary systems emerged because democratic societies demanded the capacity to stabilize output, support employment, and respond to crises rather than allowing economic policy to be dictated by the contents of a vault.

[🧡Lulu🌾; @ItsLulu_7]

Capitalism fails to make life better for the masses

[Relearning Economics @RelearningEcon]

Carl Menger's barter story is one of the most successful myths in economics.

The problem is not that it is theoretically possible. The problem is that there is little historical or anthropological evidence that societies actually developed money this way.

As David Graeber pointed out, anthropologists spent more than a century searching for examples of economies organized around pure barter and repeatedly came up empty. What they found instead were systems of credit, debt, obligation, and social accounting. People kept track of who owed what long before coins or commodity money became widespread.

The familiar story of a blacksmith searching for a farmer who wants horseshoes is largely a thought experiment. Real communities were not collections of strangers conducting spot transactions. They were networks of ongoing social relationships where obligations could be recorded and settled over time.

Historically, money often emerged alongside institutions capable of measuring and enforcing debts. Temples, palaces, kingdoms, and states maintained accounts, levied taxes, and denominated obligations in units of account long before everyday markets were dominated by coinage.

Coinage itself was frequently linked to states paying soldiers and then demanding taxes in the same currency. This created demand for money not because markets spontaneously selected it, but because political authorities structured the monetary system around it.

The historical record suggests that credit came first, coinage came later, and barter usually appears at the margins when monetary systems break down, not at the beginning of economic history.

The real myth is not that states played a role in the development of money. The real myth is that money emerged from a world of isolated traders solving the double coincidence of wants problem through spontaneous market evolution alone.

[dalibor chrápek @daliborchrapek]

@JanSticha @mmt_cz Jaj. "Boháči dávají lidem práci". Myslel jsem, že tahle hovadina zůstala v 19. století, ale asi ne.

Já nechci lidem dát práci, já jim ji chci vzít. Anebo ne, ať makají 18 hodin denně. Teď je to 12 hodin, a nedávno to bylo 8, tak to snad jde dobrým směrem.

[dalibor chrápek @daliborchrapek]

@mmt_cz I hope they leave.

[dalibor chrápek @daliborchrapek]

@mmt_cz Peníze jsou "dluhem" státu neboli závazkem či povinností státu. Stát se zavazuje přijmout své vlastní IOU (peníze) zpět při platbě daní. Jakmile platba daní proběhla, stát tak dostál svému slibu, a občan také, neboť zaplatil daň (což je povinností občana).

[Rakesh Kumar @Rakeshhkumaar]

They always draw communism as an empty fridge and capitalism as a full one.

They never draw the homeless person outside the capitalist supermarket, the farmer dumping food because selling it isn’t profitable, or the hundreds of millions who go hungry despite a world that produces more than enough food to feed everyone.

Under capitalism, the fridge is full if you can pay. Under socialism, the goal is that nobody is denied food because they’re poor.

[dalibor chrápek @daliborchrapek]

@mmt_cz Co by na to řekl Bartoň? Ale on asi ví, že to tak funguje. Jen je v jeho finančně existenčním zájmu blekotat něco jiného.

Hezky napsané! Jeden odstavec jsem si uložil :)

[dalibor chrápek @daliborchrapek]

@mmt_cz @_MartinDvorak @starostove_cz Je to chu*. Bohužel je takových, troufám si tvrdit, více než 50% české populace. A to je problém.