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The Most Important Economic Insight of the Last 50 Years

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Free-Marketeers (Em-Ay-Ar-Kay-e-Tee-E-E-Ar-Ess, Em-Oh-You-Es-EEEEE!) simply do not understand how modern economies work.  Their theories of economics are thoroughly rooted in the 19th and early 20th centuries, when the Gold Standard was sovereign.  Granted, the nitty-gritty of Macroeconomics is very difficult work, but the basics of a modern Monetary Sovereign macroeconomy are easy enough to grasp if you're willing to listen.

Here's an actual quote I encountered as a 'response' to Kevin Drum's piece over on MoJo (and Kevin gets it wrong TOO!)

We don't need charts & graphs to understand that liberal socialists want to tax, spend, & print money, while common-sense conservatives believe in fiscal prudence and personal responsibility, with as little government meddling as possible.
Follow me below the fold to learn what differentiates households, businesses, states, cities, counties and more from the U.S. Government...

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