by Summary:
Banking's Italian Roots?
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Banking's Italian Roots?
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| Banking's Italian Roots? |
I think an interesting twist on the topic is Ingo Sauer (german economist) who made the point that money is backed by assets in the real world, and adds to the story the notion that govs cannot spend more than they can back by giving out bonds. I think this is a more natural way of looking at money than the mmt view that there is no restriction at all. I think people are scared of mmt as they think it means reckless spending is ok. Of course it is not, and mmt does not say that, but people believe that mmt says this. Adding Sauers notion to the story would in my opinion make the mmt more digestible.