#modernmonetarytheory

We are heading for a currency collapse:

https://open.substack.com/pub/tdginventor/p/the-economic-elephant-in-the-room?r=1l13ws&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

#tiereddemocraticgovernance
#mmt #modernmonetarytheory #economics

5/n

City halls and unis are definitely not sovereign in that sense. That's where I need help. Could anyone that understands MMT policies explain to me how (if) they think local authorities could rewire local economies by issuing currencies and using them to pay for stuff they find beneficial? Huge thanks, economists of Mastodon!

#economics
#modernMonetaryTheory

@jeffbronks @MissGayle

Except that #ModernMonetaryTheory doesn't say anything like that just like General Relativity doesn't say that everything is relative. It's technical stuff, with professors teaching MMT in universities, publishing papers etc. Do you really think MMT could be something this stupid?

@MissGayle
I liked the bit towards the end about 'fake wealth'. Some #degrowth proponents (like the International Degrowth Network) believe in #ModernMonetaryTheory, which says that we can print as much money as we need. The more cautious degrowthers, like Nate Hagens here, warn that you can't have an ever-increasing money supply without eventually blowing a fuse.

These two camps seem to be shouting past each other. One day we're going to have to decide who is right.

Unser Land und unsere Demokratie können und werden erst wieder gesunden, sobald das Gift der #neoliberalen Ideologie neutralisiert ist. Und mit ihr u.a. die unsägliche #schuldenbremse

Eine m.E. überzeugendere Wirtschaftstheorie steht bereit: Die #modernmonetarytheory

Thinking (again) about "investment" vs. "provision", this time in a development economic context. Re-reading:

On Modern Monetary Theory, science fiction and where to look for the violence

https://edgeryders.eu/t/on-modern-monetary-theory-science-fiction-and-where-to-look-for-the-violence/14048

#economics
#ModernMonetaryTheory

@Geri there is no black hole, there has never been a black hole, this all fiction, a distraction.
No sovereign govt can ever be in debt. To think so is stupidity on a massive scale & a basic misunderstanding on how money works
The new labour govt are inept neoliberal shills, they have no idea of how to run anything, especially govt finance
#ModernMonetaryTheory #MMT see @RichardJMurphy or others
Apologies in advance if this was not new to you

Tax doesn't fund governments

#MMT #ModernMonetaryTheory #economics #SovereignCurrency

Why is modern monetary theory so important?

by the prolific Richard Murphy

#MMT #ModernMonetaryTheory #economics

https://www.taxresearch.org.uk/Blog/2024/09/17/why-is-modern-monetary-theory-so-important/

Nice primer on #ModernMonetaryTheory by @RichardJMurphy

https://www.taxresearch.org.uk/Blog/2024/09/07/what-is-modern-monetary-theory-2/

#MMT #economics

Wer Maurice Höfgen nicht kennt - sehr empfehlenswert.

#modernmonetarytheory #mmt

https://youtu.be/nHct3eLHgaY?feature=shared

Another good read exposing the shortcomings of #ModernMonetaryTheory #MMT https://jacobin.com/2019/02/modern-monetary-theory-isnt-helping

I see #ModernMonetaryTheory #MMT snake oil is doing the rounds on social media—quite apt for April 1. In this series of blog posts, Marxist economist Michael Roberts points out MMT falls back on Keynesian ideas that “abysmally failed in the 1970s”, because “inflation and employment are not under the control of the state in a capitalist economy, but depend on the profitability of capital and the investment decisions of capitalists.”

There is no side-stepping the need for a revolutionary movement of workers to take over industry from the capitalists and run it for human need. We can't save capitalism from itself by being cleverer in how we run it.

https://thenextrecession.wordpress.com/2019/02/05/mmt-3-a-backstop-to-capitalism/

1) When people say the US/UK won't be able to "pay off" debt, what do they think those debts have to be paid off WITH? Gold bars?

Govts stopped hoarding and borrowing gold long go - economics textbooks haven't figured that out.

2) When people say govts need "revenue" before they can build roads, provide health care or bombs etc, ask them where they think banks get the money they loan out?

Hint: banks get the money out of thin air. That's what "modern money" is.

#MMT #modernmonetarytheory

@jwildeboer

[...]

A sovereign nation can spend all the money needed to allocate workforce the way it needs, ideally deciding with a democratic process and it doesn't need anything in return, with businesses profiting being better for everyone.

I have tried for many years to promote these ideas, known as #ModernMonetaryTheory among FOSS enthusiasts with no success, despite #FOSS and #MMT is a match made in the heaven.

[...]

Maybe naïve questions: How does #UBI sits in the #MMT framework? Public spending would far exceed production in the first months/years of the policy being enacted, since it can’t replace all social benefits?

#UniversalBasicIncome #ModernMonetaryTheory

Exciting! A non-neoclassical macroeconomic synthesis seems to be emerging from new economic thinking. This very cool new paper by @christopher_olk , @colleenfights and @jasonhickel claims that #degrowth and #modernMonetaryTheory are strategic complements, and fundamentally aligned as they both remove artificial scarcities: the former of essential goods and services like housing, education and health care, the latter of money (given monetary sovereignty)
https://doi.org/10.1016/j.ecolecon.2023.107968
#economics

Here's @pluralistic going all #modernMonetaryTheory in the context of the US debate on killing social security (really, guys? Don't you think people need MORE security, rather than less?). Well worth a read, as it help explain why the debate on economic policy is so surreal (vested interests and corruption, mostly).

https://mamot.fr/@pluralistic/111336196091080481

First they ignore you.
Then they ridicule you.
Then they fight you (were are here).
Then you win.
#mmt
#modernmonetarytheory