Thread by @malcolm_reavell

From BBC's 'The Trick':
—"That's Clever, going after the data behind the modelling"
—"I don't know why everybody expects science models to be perfect I mean, nobody ever goes after economics models, do they?"
—"No, that's because nobody's trying to undermine the economics"
1/7 🧵

The economics models we are used to were developed by neoclassical economists. They don't represent a threat to the establishment like those of climate science, they support it. These models really do need to be undermined, not by subterfuge, by telling the truth. 2/7

From the simple household budget analogy, the curves of Phillips and Laffer, to DSGE models, they are fictions that support the insupportable. Climate science can no longer be denied, so they turn to economics to prove the changes required will be damaging and 'unaffordable'. 3/7

But they're just stalling now. Modern Monetary Theory is challenging and changing the debate. #MMT is not undermining truth, it is exposing the fraud and lies of a degenerative neoliberal system in which we have been living for the last 40 years. 4/7

#MMT exposes the lies of unaffordability, unsustainable government debt, bankrupting the country, private sector dependency, huge tax increases, massive government borrowing burdening our children, causing unemployment, trashing the economy, 'where do we find the money?' 5/7

BBC must make a new programme: "The Other Trick". This time, it's not the oil companies trying to discredit the reality of climate science, it's genuine economists uncovering an establishment web of lies and deceit. 6/7

It's a story of how bad economics has led to a world where governments corrupted by big business, chasing infinite growth in a finite world, trashing the planet on the way, are held to account. This time the (unlikely) heroes are not climate scientists, but economists 7/7