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30 sats \ 2 replies \ @Undisciplined 31 Oct \ on: Frankenstein's Money Press: How Washington Unleashed the Modern Monetary Monster econ
The MMT problem isn't really the one most people point to.
If governments spent money on economically productive projects, then printing new money for those expenditures wouldn't lead to price inflation. There would be more money chasing more goods and the more goods side of that would have increased more.
So, the issue is really the fundamental socialist calculation problem. Governments can't allocate money efficiently, so printing new money leads to higher prices.
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42 sats \ 1 reply \ @SimpleStacker 31 Oct
@Undisciplined softly defending government spending, at least in theory? The apocalypse is truly upon us!
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21 sats \ 0 replies \ @Undisciplined 31 Oct
Not at all, just pointing out that the statists who criticize MMT are missing the point.
It's bad because central planning is bad, just like whatever central planning they like.
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