Economics 101 with the SF Bay Guardian's Steven T. Jones

On 10/10/07, Steve Jones wrote: Money comes from government mints, from which it's distributed in a variety of ways (work being one; interest, loans, and other forms of capital accumulation being a far bigger one), and then it returns to government through taxes to support roads, schools, defense, offense, social services, regulation, and everything else that allows this country to function in a more or less civil fashion. I know that you must understand this, although your glib, Limbaugh-esque comment would indicate otherwise. There's actually a very serious class conflict going on this city and this country, something that I wish this new generation of SFist and other writers understood better. Public commentary isn't all about attitude and wordplay. If people like Tim lose this battle, you'll probably look back 40 years from now -- when you'd like to be able to retire but can't -- and regret not using this opportunity and your voice to do the right thing. Or maybe not, but I know that's a responsibility that I feel. Stay in touch. Steven T. Jones City Editor San Francisco Bay Guardian

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From: Matt Baume
Sent: Wednesday, October 10, 2007 1:17 PM
To: Steve Jones
Subject: Re: [Politics] New Comment Posted to 'Yes, Chuck, enough is enough'


Hi Steve.
Where did the mints get it from?
Matt

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On 10/10/07, Steve Jones wrote:
From paper and ink. They simply create it, as much as they want since we're no longer on the gold standard, but they regulate production of money to keep the economy in balance and the banks and capitalists in business. Work creates productivity, but not money, and without government regulation and social pressure, that productivity will yield less and less money to the workers and more and more to the capitalists. It's far more complicated than conservative platitudes indicate.

Steven T. Jones

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-----Original Message-----
From: Matt Baume
Sent: Wednesday, October 10, 2007 1:46 PM
To: Steve Jones
Subject: Re: [Politics] New Comment Posted to 'Yes, Chuck, enough is enough'


Okay. So the money you earn is never really yours; it really always
belongs to the government, and they just let you borrow it for a
little while?
How do you distinguish a worker from a capitalist?
Matt

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On 10/10/07, Steve Jones I'm really too busy today for Economics 101. Read Marx. But to believe that everyone is entitled to every dollar they receive is to condone crime and tyranny and to deny hundreds of years of economic theory, thousands of years of political history, and the basic social contract on which all societies are founded. I know that you're young and trying to be provocative, but you've got to read stuff and acknowledge a few basic facts if we're going to have any kind of intelligent discussion.

Steven T. Jones

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-----Original Message-----
From: Matt Baume
Sent: Wednesday, October 10, 2007 3:25 PM
To: Steve Jones
Subject: Re: [Politics] New Comment Posted to 'Yes, Chuck, enough is enough'

Okay -- I don't want to keep you from your work. Should I start right
off with Marx, or is there a more beginner-level source that I should
read as an introduction?
Matt

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On 10/10/07, Steve Jones I assume you're being snarky, but it's hard to tell. Read Paul Krugman's NYT columns or his books, Harpers Magazine, and anything by Howard Zinn or Noam Chomsky. And keep reading the Guardian locally and the Guardian of London for international news. Hell, even The Economist magazine, while a tad conservative for my tastes, is an excellent source of news about how economics works in theory and practice.

Steven T. Jones

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-----Original Message-----
From: Matt Baume
Sent: Wednesday, October 10, 2007 3:47 PM
To: Steve Jones
Subject: Re: [Politics] New Comment Posted to 'Yes, Chuck, enough is enough'

We don't use the s-word. But sometimes it's hard for me to tell, too.
Is it OK if we post this reading list, with the conversation leading
up to it? I promise no glib comments.
Matt

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Sure, feel free to post our exchange.

Steven T. Jones