This continuing debate around MMT theory may seem arcane to some.But it contains an important parable about "growth" and "economics". There are many economic variables (wages, profits, currency, classes of labor and industrial organization, credit, et al) that have different histories in each society. Change the mission or governance of a corporation in exchange for granting it limited liability, for example, and many of the variables, and their relationships, are altered too. MMT, or the infinite credit if you print your own money theory, however, has a healthy side, even if it unnerves some economists. I do not think we will be harmed by a governing theory that says: " we need to reverse the austerity direction and corruption, and move forward as far as we possibly can and like JFK said the sky is the limit". The inflation machine will tell us when we have gone too far. Also, maybe we can think about payments in some spheres being in non-economic forms -- like fishing, where every day so lived adds a day to your life.
Paying for a Green New Deal with Modern Monetary Theory
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