> Monetary policy isn’t the only or even the primary driver of inflation. After two degrees in economics, my perception is that monetary policy is definitely considered a primary driver of inflation, probably THE…
To be fair, the question was "with inflation" or "without inflation" (inflation rate of zero). A currency with a limited supply results in deflation as the economy grows. Deflation gives an advantage to savers, the same…
Speaking as an economist, I tend to get nervous when other economists talk about circumstances where "morality trumps economics." As a profession, we have a miserable track record on morality. Economists widely endorsed…
> MMT requires a nation that is internally self-sufficient when it comes to basic supplies To be fair, isn't this a lot like saying, "MMT requires conditions that don't generally exist"? What modern economy isn't…
> What governments should do is spend appropriately to maximize the welfare of their people Are you suggesting that people aren't capable of spending appropriately to maximize their own welfare, and that the government…
> public debt and public deficits are irrelevant Translation: Countries can incur as much debt as they want, because they can "print" their way out of it without harmful consequences. > inflation is the most important…
TL;DR: MMT starts by saying that governments that manage their own currencies have unlimited spending ability – they can simply create money when they need it. And that's obviously true, to the extent that people are…
This is a common economic fallacy. "A job guarantee (JG) is an economic policy proposal aimed at providing a sustainable solution to the dual problems of inflation and unemployment." However, it is economic consensus…
> Monetary policy isn’t the only or even the primary driver of inflation. After two degrees in economics, my perception is that monetary policy is definitely considered a primary driver of inflation, probably THE…
To be fair, the question was "with inflation" or "without inflation" (inflation rate of zero). A currency with a limited supply results in deflation as the economy grows. Deflation gives an advantage to savers, the same…
Speaking as an economist, I tend to get nervous when other economists talk about circumstances where "morality trumps economics." As a profession, we have a miserable track record on morality. Economists widely endorsed…
> MMT requires a nation that is internally self-sufficient when it comes to basic supplies To be fair, isn't this a lot like saying, "MMT requires conditions that don't generally exist"? What modern economy isn't…
> What governments should do is spend appropriately to maximize the welfare of their people Are you suggesting that people aren't capable of spending appropriately to maximize their own welfare, and that the government…
> public debt and public deficits are irrelevant Translation: Countries can incur as much debt as they want, because they can "print" their way out of it without harmful consequences. > inflation is the most important…
TL;DR: MMT starts by saying that governments that manage their own currencies have unlimited spending ability – they can simply create money when they need it. And that's obviously true, to the extent that people are…
This is a common economic fallacy. "A job guarantee (JG) is an economic policy proposal aimed at providing a sustainable solution to the dual problems of inflation and unemployment." However, it is economic consensus…