What Are Taxes For? The MMT Approach
Sovereign government does not really need revenue in its own currency in order to spend.
Sovereign government does not really need revenue in its own currency in order to spend.
There never has been the kind of independence supposed by orthodox economists.
In this blog we look at the myth of Fed independence from its creator, the Congress and from the Treasury.
It has been commonplace to speak of central bank independence—as if it were both a reality and a necessity…
Let us close this blog and this Primer with an examination of three propositions on the nature of money. This has been a long and difficult blog. You might need to read it twice. Or three times.
The main objections to MMT are the belief that adoption of a fiat money necessarily leads to high inflation and perceived government inefficiency. Let’s expose these boogeymen.