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The Very Model of a Modern Major Bidenomics Economistmises.org/mises-wire/very-model-modern-major-bidenomics-economist
264 sats \ 5 comments \ @Undisciplined 27 Jun econ
By Thomas J. DiLorenzo
Sixteen Nobel prize-winning economists are declaring Bidenomics to be a huge success, and predicting economic disaster if Trump is elected. It's all further evidence of the pathetic, politicized state of “mainstream” academic economics.
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21 sats \ 4 replies \ @Bell_curve 27 Jun
The letter was specific: Trump policies will be inflationary
Tax cuts and more tariffs will be inflationary
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21 sats \ 3 replies \ @Undisciplined OP 27 Jun
MMT'ers believe that the purpose of taxation is to reign in monetary inflation, so they would see tax cuts as inflationary.
That seems contradictory with the claim that increased tariffs are inflationary. However, if you switch to talking about price inflation, there's a case to be made. Tariffs increase the price of imported goods.
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21 sats \ 2 replies \ @Bell_curve 27 Jun
MMT is so irresponsible and intellectually dishonest
The idea is that high taxation reigns in monetary inflation by discouraging commerce?
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21 sats \ 1 reply \ @Undisciplined OP 28 Jun
No, that's more of the neoclassical view.
The MMT position is that you use taxation to directly reduce the money supply. Think money fire.
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0 sats \ 0 replies \ @Bell_curve 28 Jun
Money fire 🔥, interesting
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