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MMT is not enough to google for. Who are they and what do they think/teach?
by virmundi 7y ago
MMT is not enough to google for. Who are they and what do they think/teach?
- lbotos 7y agohttps://en.wikipedia.org/wiki/Modern_Monetary_Theory https://en.wikipedia.org/wiki/Modern_Monetary_Theory
- sol_remmy2 7y agoMore like Post-Modern Monetary Theory (What really is money anyways? Why can't we just print as much as we want?)
- deleted 7y ago[deleted]
- jfengel 7y agoModern Monetary Theory is the idea that the government can go ahead and just pay all its debts with IOUs, which is all cash really is anyway. You don't need taxes to pull in cash and dole it out, which just complicates things. You might do it anyway, to control inflation, but even orthodox Keynesian theory says that a little inflation is a good thing (since it encourages people to invest rather than put their money under a mattress). The idea is to pump enough cash into the economy that employers (or worst case, the government itself) will find jobs for everybody who wants to work. It's kind of the flip side of the inflation-averse Chicago/Austrian school of economics, with mainstream Keynesian economics in between. The Chicago school is strongly associated with the right wing, and MMT is receiving a lot of attention right now from the left, who want to use it to fund a lot of progressive spending policies.