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b_b · 1405 days ago · link · · parent · post: 'bl00's Reviews: The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy by Stephanie Kelton
I want the government to buy me and everyone else in the country a mansion on 5 acres. On a more serious note, I think the reason people started taking this garbage seriously is because the government has printed an ungodly amount of money since 2008 without any increase in inflation. So now the thinking goes that we can make as much money as we want without any consequences. I think what this fails to account for is how little of that money actually made it to circulation, rather than shoring up bogus balance sheets. We haven't done the experiment that the MMT people think we have already done, and if we did that experiment my guess is that the results would be pretty different. Nice write-up though. Appreciate it.