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I am dubious about the speed issue - I am pretty sure wash trades are fast, but they don’t count. So we need some measure of “transactions, but that produce or

I am dubious about the speed issue - I am pretty sure wash trades are fast, but they don’t count. So we need some measure of “transactions, but that produce or have chance to produce value” - which is kind of back to square one. >>> Tax isnt to curb inflation. Under MMT tax is for destroying money >>> The wealthy do get taxed. But at the same rate as labour ? No. Ie capital gains vs income tax. This might be a fairness issue but it is also directly a resource allocation and incentive issue. If we want more risk to produce more value why not incentivise labour over investment - in the end who will be left to do the labour ? >>> Everything about creating money and to whom was wrong. Governments print money as do banks - it’s where it comes from as a debt. Not sure how else to put it

yieldcrv 2y ago
yes, governments and banks create aka "print" money. can we move off of that point? its your angle where you think this is noteworthy and controversial which is messing up the rest of your analysis. the point is that it wasn't relevant at all, and you're shoehorning it into an irrelevant transaction just because you find it an interesting aspect of MMT, which also isn't even relevant here. regarding speed, or velocity, there is no direct way to measure its efficacy. so there are a lot of proxies. businesses starting, hiring, GDP, home sales, mortgages, venture and private equity transactions and more. its easy to take this for granted until you go to any other monetary union and see how pitiful capital formation is where everyone is saving and hoarding.