3 ms·
MMT says that printing money has no effect if you give it to certain people. I’ve yet to hear of a real-world example where a major economy doubles or triples t
by seibelj 8y ago
MMT says that printing money has no effect if you give it to certain people. I’ve yet to hear of a real-world example where a major economy doubles or triples their monetary supply with no negative effect, which is what MMT will have you believe (“don’t give it to the banks - give it to poor people in Idaho!”).
If it sounds too good to be true then it is.
- stephenbez 8y agoThe US M1 Money Supply has tripled since 2000 according to the St. Louis Fed: https://fred.stlouisfed.org/series/M1SL https://fred.stlouisfed.org/series/M1SL There have not been issues with high inflation.
- AlexTWithBeard 8y agoThe problem is that once the debt is repaid you have to provide something in exchange for that money. If it's good and services, fine, we can produce a lot of these. But if that's land and factories, the country will be owned by foreign investors pretty soon. Not sure if it's a good thing.
- notfromhere 8y agoMMT is economics for morons
- mac01021 8y agoWhat is the less moronic theory that I should read up on instead?
- JDiculous 8y agoThe Fed increased the monetary base by 5x during the Great Recession. Where's the hyperinflation?