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Dangerous idea that’s time has come. It’s the flip-side of UBI. Neo-Keynesian financial socialism needs a giving hand as well as a taking hand. It’s going to be *really* popular in political circles though, so get to know it.
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A thread on problems with MMT
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I'll let @paulkrugman handle MMT's explicit problems. Mine are with its implicit presumptions: 1—We know how to manage long term vs short term 2—Global interdependencies don't matter 3—permission for uncapped spending 4—ignoring effect of aging 5—We can control inflation post-MMT
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I think that MMT is an interesting reframe with two major truths: (1) It's the real economy stupid, and (2) monetary/fiscal policy is just fiat power by abstracted means.
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Aren’t answers B&C highly overlapping? Vote for “Unsure, worth 20-year experiment” Probably not that much different than current debt payments via new sovereign debt for nations > 100% GDP debt. Japan should go first.
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If govt can print what they need, there's nothing stopping govt contractors and everyone else doubling their prices every year. "Nah, we know you've got the money"
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