New Economic Perspectives Collection
A growing archive of posts from all your favorite MMT greats, republished with permission from the original New Economic Perspectives blog.
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In this blog we look at the myth of Fed independence from its creator, the Congress and from the Treasury.
There never has been the kind of independence supposed by orthodox economists.
From the latest cuts to the economic forecasts to the Italian elections to the gathering debate about how George Osborne should play this year’s Budget, all discussions about the financial system now lead swiftly back to the world’s sovereign debt problem.
If progressives would just make the effort to inform themselves how a modern, sovereign fiat currency actually functions, they’d realize “paying for it” is actually the easiest part.
Understanding how federal finance works makes for better predictions and sensible policy.
Any time there is an MMT post, the comments are dominated by conspiracy theorists, haters of government, goldbugs, and victims of alien probings who are certain that MMT-ers are united in their effort to ramp up government until it consumes the entire economy.