Probably stumbled across this via Reddit|Economics.
Mosler’s Law states that,
There is no financial crisis so deep that a sufficiently large increase in public spending cannot deal with it.
Surely this is a joke, right?
I mean, it violates Say’s Law of Markets, runs contrary to Public Choice Theory, spits in the face of Hayek’s Knowledge Problem (although from a Macro POV), and completely ignores the destructive, long-run effects of inflation like teh dread Malinvestment.
I’m not sure which of Mosler’s arguments offend me the most: the overwhelming sense of entitlement, that governments justifiably appropriate and redistribute individual savings, or the notion that, in order for individuals to produce, the government must tax them first.