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.
Can you separate the MMT explanation of the cause of unemployment from the policy to cure it? Yes. Should you? Of course not.
Yes, sending a check to people is not as “messy,” but let’s stop pretending that it’s a panacea for the fundamental problem of economic insecurity.
Raul Carrillo argues for permanent, non-discretionary funding of income, healthcare, housing, education, employment for all.
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.
Instead, we should look to stabilize our national economy with a Federal Jobs Guarantee instead of using a program unique to just one state.