by Summary:
Another rant from Tim Worstall. If we can't get the rich to pay for all this democratic socialism the Left would give us these days, then how are we going to pay for it? Up pops that other current bright idea, modern monetary theory: We just print the money and go spend it. It is actually true that nobody has ever had socialism paid for by the rich, so it's good to have an alternative idea out there. It's even true that modern monetary theory works, in theory.The only problem is when we add in these odd people, us humans, it fails. Variant of the noble lie.Washington ExaminerCan we just inflate the economy into paying for socialism? Tim Worstall
Topics:
Mike Norman considers the following as important: MMT, MMT criticism, MMT critics
This could be interesting, too:
Another rant from Tim Worstall. If we can't get the rich to pay for all this democratic socialism the Left would give us these days, then how are we going to pay for it? Up pops that other current bright idea, modern monetary theory: We just print the money and go spend it. It is actually true that nobody has ever had socialism paid for by the rich, so it's good to have an alternative idea out there. It's even true that modern monetary theory works, in theory.The only problem is when we add in these odd people, us humans, it fails. Variant of the noble lie.Washington ExaminerCan we just inflate the economy into paying for socialism? Tim Worstall
Topics:
Mike Norman considers the following as important: MMT, MMT criticism, MMT critics
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
If we can't get the rich to pay for all this democratic socialism the Left would give us these days, then how are we going to pay for it? Up pops that other current bright idea, modern monetary theory: We just print the money and go spend it. It is actually true that nobody has ever had socialism paid for by the rich, so it's good to have an alternative idea out there. It's even true that modern monetary theory works, in theory.Variant of the noble lie.
The only problem is when we add in these odd people, us humans, it fails.
Washington Examiner
Can we just inflate the economy into paying for socialism?
Tim Worstall