Four Economists Who Support Statism at the Expense of Freedom - Part II: Kelton and Mazzucato

Perhaps the more sophisticated of the four statist macroeconomists discussed in this two-part article, are Stephanie Kelton and Mariana Mazzucato. As American academics, they are far less tin-eared in their statements regarding the benefits of the market economy than Piketty and Zucman. They put the efficient, managerial state in the centre of a state-directed economy, fuelled by endless money printing from the central bank. There are precedents for this economic policy: Germany, Italy, and the USA in the 1930s and 1940s. If Piketty and Zucman are socialists, Kelton and Mazzucato are fascists.

Four Economists Who Support Statism at the Expense of Freedom - Part I: Piketty and Zucman

Every generation produces its slew of mouthpieces for state power at the expense of freedom. Statist economists are some of the most sophisticated of these, for three reasons. Firstly, they appear to criticize the current crony capitalist system, when in reality they defend it and want it reinforced in different ways. Secondly, they usually rely on statistics and mathematics to make their cases “scientifically”, making it more difficult for the layman to see through the flaws in their thinking. Third, they couch their argumentation in “feel-good” moral values, to which superficially the public can feel drawn, such as the fight against inequality.

Public Opinion: Cornered by the Many, Controlled by the Few

As many have understood, freedom of speech is under threat in the West today, in particular - of course - dissident speech. But it is important to remember that even if freedom of speech protection were implemented for speech that threatens the power-that-be, public opinion would still be corralled and controlled by the ruling minority. And public opinion would still be subdued by its own conduit: the majority. In other words, public opinion - that most important of political agents, capable to bringing down entire political systems - is cornered by the many and controlled by the few. This is what makes politics truths so difficult to spread in society.