MMP Blog #51: The Efficiency Fairy and Inflation Goblins
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.
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.
Once one understands that sovereign governments do not have to force millions to suffer involuntary unemployment, then the ethically defensible position of opposing a Job Guarantee is narrowed.
Most think of the UBI from a national perspective but comparatively little thought has gone into the global perspective.
UBI is both an important topic in its own right and a useful lens for examining recurrent virtues and vices in projects of partial decommodification and universal provision.