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MMT's most controversial assertion is that a government that issues its own currency can't go bankrupt. You called it extreme and then largely agreed with it..
by crdoconnor 8y ago
MMT's most controversial assertion is that a government that issues its own currency can't go bankrupt.
You called it extreme and then largely agreed with it....?
- nabla9 8y agoHow is that confusing in the context of everything else I wrote? True premise can lead to wrong conclusion. Some models can work only within a some range. If you accept only one-handed economists you get into trouble. --- joke explainer: “Give me a one-handed Economist. All my economists say 'on hand...', then 'but on the other...” ― Harry Truman
- crdoconnor 8y ago>How is that confusing in the context of everything else I wrote? Because when you declare a school of thought to be "extreme" it's kind of weird to agree with the core (and most controversial) concepts and only disagree on unspecified details. On the one hand, it's like declaring that the Catholic Church is run by religious extremists because their wafers are exactly the wrong shade of pale off-white. On the other hand, it's exactly like that as well.
- deleted 8y ago[deleted]