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Anyone who subscribes to MMT, creating money out of thin air, or the gov providing for citizens through money printing.
by hfsp 6y ago
Anyone who subscribes to MMT, creating money out of thin air, or the gov providing for citizens through money printing.
- imtringued 6y agoWhat's the worst thing that can happen? Full employment and the subsequent rise in private industry and economic growth and 2% inflation? When you have a gold backed currency there is a "guarantee" that each dollar can be exchanged for physical gold. When you have a fiat currency it is backed by nothing, except the existence of an economy that exchanges your dollars for physical goods and services. If you can create money and spend it in a way that preserves this contract you unlock economic growth.
- hfsp 6y agoRead When Money Dies by Adam Fergusson. This is the worst thing that can happen. Having lived through hyperinflation, I do believe that printing trillions (+40% last 12 months, +75% since '09 crisis) has negative consequences. There is no free lunch.