Thread by @scafaria

Watching the UK🇬🇧 self-immolate❤️‍🔥, first with Brexit and now the disastrous libertarian economic policies of Liz Truss, it’s time to debunk the Scarcity Myth. 1/🧵
#ScarcityMyth

If you’re catching up on the UK, read this @jaredbrock post.

“Churches and pubs are applying for grants to become ‘warm spaces’ just to keep the nation alive this winter. No one else can afford to turn their heat on.” #ScarcityMyth 2/
survivingtomorrow.org/britain-is-try…

Of all the economic myths (my pinned tweet video debunks 8 of them), the #ScarcityMyth is the most pernicious because it creates a self-fulfilling prophecy. If we believe in it and act upon it, we are *guaranteed* scarcity. 3/

For 99.8% of history, the most reliable way to improve one’s lot in life was to take stuff from others. We are evolutionarily wired to divide the world into “us” and “them” using religion, race, ethnicity, and other tribal cues. The neuroscience: 4/
bigthink.com/videos/robert-…

*Fascists* exploit us-vs-them brain wiring to fracture society for *political gain*.

"Fuse your identity with me, the strong leader, so that ‘we’ can prevail over ‘them.’” We need to keep “our” stuff (property, women, etc.) away from the alien “them”. 5/

*Libertarians* exploit us-vs-them brain wiring for *economic gain*.

“There is a limited amount of stuff! Only those who ‘deserve’ prosperity should be entitled to it.”
#ScarcityMyth 6/

Once we believe in economic scarcity, questions of “who deserves prosperity” become pressing - under fascism and libertarianism.

Sometimes fascists fuse with prosperity cults! e.g. leading a congregation in a doomsday prosperity cult's ritual! 7/

But economic scarcity is a myth! Here’s a parable (h/t @clintballinger).

In a raging storm, two ships and their crew are lost. One wrecks on Zerosum Island, the other on the nearly identical landscape of Possum Island.

#ScarcityMyth
8/

The crew on Zerosum Island fights over the salvaged supplies, many are killed or injured, and a fraction of them survive the civil war. The leaders of the surviving faction divide the spoils. They fare well for a time but starve soon after provisions run out. #ScarcityMyth 9/

The crew on Possum Island create a miniature economy. Some make fishing nets, some fish, some forage for fruit and nuts, some tend to the fires, and others bring back timber for shelter. #ScarcityMyth 10/

Eventually, they specialize into weaving, fishing, foraging, farming, iron smelting, and housing. As society grows, day-care and schools are formed so more of the mothers could work. The elderly are cared for as part of the island's social contract. #ScarcityMyth 11/

“But wait,” cries the last surviving libertarians and fascists on Zerosum Island when they hear the news of their Possum Island brethren, “how is that possible? All the gold was on our ship!”
#ScarcityMyth 12/

Money supply wasn’t the constraint. Initial provisions weren’t the constraint. The constraint was zero-sum vs. positive-sum economics. The Possum Island crew proved that an economy can “do” whatever its real resources allow. #ScarcityMyth 13/

Will the US social security system “go broke” in 2035? Only if Republican politicians allow it to. The same number of nurses, doctors, and hospitals will exist in 2036 as in 2035. The real resources will be unchanged. #ScarcityMyth 14/

It would be a completely self-inflicted tragedy to lay off those medical workers and cancel all the drug supply contracts in 2036. Why not let them keep going to work and keeping the elderly in good health? #ScarcityMyth 15/

Everywhere you look, Republicans are announcing phony scarcity problems. Every 2 minutes a water main breaks in this country. Bridges are in disrepair. Can we afford to fix them? #ScarcityMyth 16/

In a country where so many iron workers lost their manufacturing jobs and would like to pick up a Thermadyne TIG torch again? The lesson of Possum Island is that of course we can! The real resources are available. #ScarcityMyth 17/

When you believe in the #ScarcityMyth, helping poor people is a fool’s bet. Every dollar that provides food, clothing, or housing to “them” came out of the mouths of me and the rest of “us!” “Takers” are taking from “us” and we deserve prosperity more! 18/

When you hear this “handouts” variant of the #ScarcityMyth, ask “When a poor person brings food stamps to the corner store, does the shop-keeper’s bank account increase?” Yes. Then that shop keeper can pay wages and grow the business and even someday hire that poor person. 19/

Let’s see that again in slow motion. The shop-keeper pays taxes. This helps fund food stamps. The poorer customer buys from the shop. Over time, they get back on their feet (e.g. can now afford child-care). This generates value for the shop-keeper, the day-care service... 20/

Speaking as a father, husband, and small-business owner, please help me debunk pernicious economic myths. 8 more below. And now that politicians have 100% self-sorted into Possum Island Democrats and Zerosum Island Republicans, please vote blue. 20/END

@davetroy @BaddCompani @gregolear @BrentAllpress @RachelBitecofer I think you'll enjoy this thread on the #ScarcityMyth #Economics

Here's an explainer specifically debunking the #ScarcityMyth as it pertains to #SocialSecurity