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They don’t have anything material, because the whole notion of controlling an economy with debt and unemployment demonstrably doesn’t work. That’s why we are w
by neilwilson 6y ago
They don’t have anything material, because the whole notion of controlling an economy with debt and unemployment demonstrably doesn’t work.
That’s why we are where we are.
This idea sprung up in the 1960s and took hold in the 1970s because some people couldn’t answer the inflation question that was a result of the failure of Bretton Woods and the oil shock.
We’re about the see another paradigm shift away from Central Banks as Wizard of Oz.
Hence the rise in interest in Modern Money Theory which puts the central bank Debt toy away and concentrates on what actually matters - ensuring everybody has an opportunity to contribute and gets an income from doing that.
- tupputuppu 6y agoIt's safe to say Modern Monetary Theory is rejected by most if not all mainstream economists.