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| Statue from 2009 by the late William Fawke, in the Garden of Heroes and Villains, Warwickshire, via Ellen Herold's Pinterest. |
Hi, it's Stupid to say Modern Monetary Theory is all wrong, but I just can't
help myself.
George Berkeley, Bishop of Cloyne, the great Irish philosopher midway between
Locke and Hume, argued brilliantly that things don't exist—I mean things,
material objects, the out-there stuff we see and touch, in that you can have a
perfectly coherent picture of the universe without them: all you need are
minds, full of perceptions, and that's enough. Things corresponding to
the perceptions don't have to be there. "Berkeley's system," says the Stanford
Encyclopedia mildly,
while it strikes many as counter-intuitive, is strong and flexible enough
to counter most objections.
Which made Dr. Samuel Johnson, the irascible lexicographer whose portrait
serves as my avi, pretty mad. Because obviously the theory was revolting to
his stolid English soul, but he didn't even know how to participate in the
discussion. One day as he was leaving a church with his future biographer,
James Boswell, they started chatting about it, Boswell observing that "though
we are satisfied his doctrine is not true, it is impossible to refute it." As
they spoke, they passed a big stone along the path and Johnson turned to give
it a powerful kick, no doubt hurting his foot: "Thus I refute it!"
Meaning, more or less, GTFOOH, are you telling me this doesn't
exist? Deze nutz!
This is my problem with so-called Modern Monetary Theory.