Post #4062515 · Elektrine

2026-07-24 12:15 UTC

@GeofCox@climatejustice.social What’s frustrating is that both business and government go to great lengths to keep regular people in the dark about this. They promote erroneous and obsolete ideas about money and debt (and lots more besides), because keeping people ignorant and misinformed benefits those in power. The “classes” are rooted in different understandings of how the world works. Those with privilege—collectively, if not always individually—do what they can to preserve the difference, by putting obstacles in the way of everyone else.

Replies (1)

@GeofCox@climatejustice.social 2026-07-24 16:33

@8r3n7@mstdn.ca Yes - but I wouldn't look at it in class or government or business terms - because a lot of people in every class and profession, including politicians, and especially political journalists, have no idea what money is, or how money or tax really work. What is true is that bankers, including central bankers, are very nervous about telling ti like it is (although they have in fact done so - in pretty obscure technical banking papers). This has I think 2 reasons, one is just hangover from previous theorisations and banking traditions, especially from the 'gold standard' period - but the other is fear that telling the plain truth will weaken faith in the currency/bank, and maybe the 'social contract' around tax.

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