“Anybody care to respond to this?”
Try this from Miltie.
http://www.youtube.com/watch?v=Hrg1CArkuNc&feature=plcp
Bottom line is that yes the money gets spent either way, but there’s a couple key differences...
1. who gets to spend the money (the producer or the taker?) This has “moral hazard” aspects that are very detrimental to both the economy and society in general (rewards and punishes the wrong behaviors)
2. how effectively is that money spent. This is addressed by another Miltie video - the four types of money.
http://www.youtube.com/watch?v=5RDMdc5r5z8
ping