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>>> They get what they have by taking it from productive people. The insight of MMT is that governments get what they have by purchasing it from productive peo

>>> They get what they have by taking it from productive people. The insight of MMT is that governments get what they have by purchasing it from productive people - and purchasing it using money they just print out of thin air. (The point is not to print too much!) Do governments make bad decisions - yes. Do they misuse tax incentives and muck up hugely. Yes. But to be fair you should see how bad it is inside fortune 500s and boy some of those start ups are an embarrassment. Don’t call for the “private sector is great and should take over every branch of government” shtick. That’s the weather app theory of extracting public money for profit. Focus on how to make all organisations more effective

wakawaka28 3y ago
MMT is old wine in a new bottle, a tale as old as money itself. "Purchasing" stuff from people with worthless or arbitrarily debased units of currency is like stealing. The government threat of violence does not make these digital or paper "assets" any more real. >The point is not to print too much! It may be possible for this to continue an indefinite amount of time, just like counterfeiting. It is almost exactly state-sponsored counterfeiting. >But to be fair you should see how bad it is inside fortune 500s and boy some of those start ups are an embarrassment. This waste is greatly exacerbated by artificial credit bubbles created by MMT shysters. They even got academia thinking this is a good idea, probably by paying them off in freshly printed notes. >Don’t call for the “private sector is great and should take over every branch of government” shtick. I would never suggest such a thing. But letting the state spend theoretically unlimited money, and thus pick winners and losers in a "free market" is just bad policy.
- lifeisstillgood 3y ago
  I urge you to rethink the MMT debate - no one suggests it’s unlimited, or debased. Just one thought - if you think the US gov can only spend money it taxes away from people, where do those people get the dollars to pay the taxes? Just start from there.

wakawaka28 3y ago

MMT is old wine in a new bottle, a tale as old as money itself. "Purchasing" stuff from people with worthless or arbitrarily debased units of currency is like stealing. The government threat of violence does not make these digital or paper "assets" any more real. >The point is not to print too much! It may be possible for this to continue an indefinite amount of time, just like counterfeiting. It is almost exactly state-sponsored counterfeiting. >But to be fair you should see how bad it is inside fortune 500s and boy some of those start ups are an embarrassment. This waste is greatly exacerbated by artificial credit bubbles created by MMT shysters. They even got academia thinking this is a good idea, probably by paying them off in freshly printed notes. >Don’t call for the “private sector is great and should take over every branch of government” shtick. I would never suggest such a thing. But letting the state spend theoretically unlimited money, and thus pick winners and losers in a "free market" is just bad policy.

lifeisstillgood 3y ago
I urge you to rethink the MMT debate - no one suggests it’s unlimited, or debased. Just one thought - if you think the US gov can only spend money it taxes away from people, where do those people get the dollars to pay the taxes? Just start from there.