MMP Blog #52: Conclusion: The Nature of Money
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.
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.
Can you separate the MMT explanation of the cause of unemployment from the policy to cure it? Yes. Should you? Of course not.
Some have called it slavery; others accuse supporters of fascism or communism. Some claim we want to destroy the safety net. Others say we want to destroy capitalism.
The answer to both questions posed in the title is, I think, a big fat no.
A response to John Carney’s published works because I think they are the most cogent MMT critiques the Austrians have to offer.
As an accurate description, this part of MMT should be accepted by anyone, no matter what their theoretical, political, or ideological persuasion.