
The Surprise Cult of Modern Monetary Theory - howard941
https://www.newstatesman.com/politics/economy/2019/02/surprise-cult-modern-monetary-theory
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AnimalMuppet
> Rather than “finding” the money to “pay” for universal healthcare,
> governments can electronically create money out of nothing. When inflation
> begins to rise, the state can employ its fiscal lever, taxing excess money
> out of the economy.

Yeah, but see, in the US at least, it's _Congress_ that controls the taxes. Do
you trust Congress to put the brakes on at the right time and to the right
degree? Have you _looked_ at Congress lately?

That's assuming that MMT actually works as advertised, which I think is quite
an assumption. I think it's more likely that MMT = "Magic Money Tree" (I stole
that; can't remember from where or I'd give credit where due). That is, MMT is
a too-good-to-be-true offer of free money that won't work in reality.

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zunzun
My understanding is that, if it is added at the correct rate, the U.S. economy
can absorb infinite amounts of counterfeit money.

