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Modern Monetary Theory Finds an Embrace in an Unexpected Place: Wall Street
- howard941 8y ago> M.M.T., Mr. Alpert said, “successfully debunks 40 years of misassumptions of how markets and public credit work.” Roughly contemporaneous with the rocketing financial inequality, failure of productivity gains to be seen below the C-suite level, drive to extract private profits from public goods and the almost pathological drive to strangle government in the bathtub. We've already seen MMT applied for the benefit of the wealthy in the form of asset-value-pumping QE but they don't spend. Better our government should run deficits to improve infrastructure and health put cash in the hands of folks whose spending will increase monetary velocity.
- zunzun 8y agoUnder M.M.T., why does the USA have a federal income tax?