In this article, we dispute the mainstream view that the inflation of the Weimar Republic was caused by a proactive expansion of the stock of money by the German government acting in concert with the Reichsbank.
In this piece, we study the interaction between the government and nongovernment sectors while retaining the consolidation hypothesis.
MMT is frequently criticized for consolidating the treasury and the central bank. In this post, we will address these issues by tackling problems surrounding the nature of money and the role of taxes, and by beginning to deal with the consolidation argument.
This is Part 1 of a six part series in which we deal with critics of MMT. As readers of this blog know, our critics continually raise the same old tired critiques of MMT.
The madness that is neoliberalism must stop. The people must forego their patience and reclaim their governments. They must redirect their government’s spending towards the public purpose and away from the demands of Wall Street.
