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#modernmonetarytheory
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!
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.
Just finished listening to it again. Now i'm possibly even more annoyed & frustrated than the first time last year, given all the problems are even worse, yet still almost nobody is embracing this new paradigm, so we remain mired in the loop of failure, with all the benefits being unrealised.
Fuck humans.
There you have it - irrefutable proof it exists.
Now there's one lie they can no longer foist on us.
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
Postwachstum geht nur ohne Schuldenbremse!
https://www.radikaledemokratie.de/postwachstum-geht-nur-ohne-schuldenbremse/
Hunh. I'm surprised The Jacobin published this critique of Modern Monetary Theory. I vibe with this critique, but I'm suprised the Jacobin published it. https://jacobin.com/2019/02/modern-monetary-theory-isnt-helping?fbclid=IwAR1gxIxo-GuCN2Nsg67e8DM3NSu_X0Tz7Z3vXcZ_M5issP-npUrmpAlafNA
@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
#modernmonetarytheory #mmt explained. A must watch.
Tax doesn't fund governments
> Taxpayers don’t make money, governments do
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/
47 Minuten gut investiert an diesem Sonntag.
Heiner Flassbeck zu Gast bei YTer Mario Lochner.
"Also kann man eigentlich sagen, dass Ökonomen schädlicher sind als das sie nützlich sind."
"Ja, das kann man durchweg so sagen."
"Heute gelehrte Ökonomie ist ein Glasperlenspiel."
Urlaubs-Buchempfehlung für alle Schuldenbremsen-Fans! Das Essential „Modern Monetary Theorie“ von Dirk Ehnts vermittelt verständlich, worum es sich bei Staatsverschuldung (auch in Abgrenzung zu Privatschulden), Geldschöpfung & Geldkreislauf handelt und wie man politisch z.B. auf Preisstabilität, Vollbeschäftigung und nachhaltige Ressourcennutzung hinarbeiten kann. Spoiler: Die Schuldenbremse ist nicht das Mittel der Wahl!
I think I have discovered a new #LogicalFallacy: when you argue in favor of an additional degree of freedom and someone is against it because it could be abused or it could support <insert bad practice>.
Example 1: #ModernMonetaryTheory explains that all the money needed for full employment, free healthcare, free education etc. can be created out of nowhere (just like all the money) but someone instists with the hyperinflation trope.
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.
Gestern wurde von der Pufendorf Gesellschaft der Modern-Monetary-Theory-Film "Follow the Money" in Berlin im Rathaus Schönenerg gezeigt. Anschließend gab es ein Q&A mit der Regisseurin.
Wie man durch progressive Finanzpolitik Klimaschutz fördern? Ein sehr wichtiges Thema.
Ich kann den Film und eine generelle Außeinandersetzung mit der MMT sehr empfehlen 
