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Modern Monetary Theory (MMT) describes how monetary systems actually operate: Government spending adds money to the economy, taxes remove it.

The limit isn't "running out of money" - it's real resources and inflation.

A currency-issuing government can always pay for what's for sale in its currency.

The key is managing real resources wisely for public purpose.

Understanding this opens new possibilities for addressing social needs and full employment sustainably.

#MMT #Economics
#economics #mmt
Heinrichsgeist
Another limit is the disproportionate accumulation of money by private individuals who use their power to undermine the public purpose. This risk is even higher than that of inflation. The management of wealth distribution is therefore another key.

In my opinion, #MMT could take this more into account
#mmt
Katy Swain
#MMT is just a description of how money works. Unlike mainstream economics, which smuggles in a whole lot of ideological stuff disguised as laws of nature, it doesn't say how money, as an instrument of the issuer, should or should not be used.

That's our job as citizens, not as economists.

Some people (naming no names) argue that inequality ought to exist as just reward for merit. That's a moral argument (a bad one), not an economic argument.

@AustRealProg
#mmt @Darren :verified:
Heinrichsgeist
Sure, #MMT has an descriptive core that is evidently true (better: can hardly been falsified) - and this is the major difference to mainstream economics which is based on myths.

But I cannot see anything wrong in giving advise to politics based on a set of positive values (call it ideology) when this advise is rooted in real world facts. This means leaving the descriptive core (e.g. "managing real resources wisely for the public purpose").

@AustRealProg
@Darren :verified:
Dieser Beitrag wurde bearbeitet. (1 Monat her)

DrALJONES hat dies geteilt

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