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This is a bogeyman article. Inflation is too many dollars chasing too few goods. If the ECB/US Federal Reserve/Bank of Japan would turn their printers off the
by brodouevencode 3y ago
This is a bogeyman article.
Inflation is too many dollars chasing too few goods. If the ECB/US Federal Reserve/Bank of Japan would turn their printers off the inflation cycle would naturally work itself out.
MMT is a joke.
- OGWhales 3y ago> MMT is a joke. I have my own issues with MMT, but I feel like most people that share your position seem to believe that MMT means “you can print as much money as possible without ramifications” which is not correct. One of the core ideas of MMT is that inflation is the limiting factor of how much money can be printed, or rather that inflation should be the gauge of when to stop. The idea is to spend new money wisely, in ways that increase productivity rather than contribute to inflation. I think that part of MMT is quite reasonable.
- brodouevencode 3y agoEvery economic theory will be employed in the worst ways possible, so in practice the `printer go brrrrr` is what happens. Anecdotally - one of the primary reasons of why I left academia (economics specifically) is that the theory never matched the practice. I should have stayed in engineering.