MMT: overcoming the political divide.

Discussion in 'Economics & Trade' started by a better world, Mar 12, 2020.

  1. a better world

    a better world Well-Known Member

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    https://twitter.com/i/broadcasts/1LyxBdrYDoYGN

    Another wonderful video, exploring the capacity of the sovereign currency issuer to spend money into existence.

    Very timely, given the current concerns among economic 'flat-earthers'** like these two who have introduced bills into congress banning MMT.

    ** because the earth seems to be flat, right? Only problem is, the earth is NOT flat....

    (link)

    Hern, Braun introduce resolution condemning Modern Monetary Theory | U.S. Representative Kevin Hern (house.gov)
     
    Last edited: Mar 26, 2021
  2. a better world

    a better world Well-Known Member

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  3. a better world

    a better world Well-Known Member

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    Opinion | Biden Can Go Bigger and Not ‘Pay for It’ the Old Way - The New York Times (nytimes.com)

    "By focusing on how much revenue they think they can raise from a broad array of tax increases on the well-off, Democrats risk allowing the scope of their ambitions to be governed by the dated framework of fiscal responsibility in Washington and the political appetite for tax increases, rather than what is truly possible based on logistics in the real economy.

    The Bureau of Labor Statistics, the Federal Reserve, the Treasury Department and other agencies that track labor force participation, price increases and supply shortages can be tasked with developing a specific dashboard of blinkers and warnings to alert to problems (of supply bottlenecks leading to inflation)

    If Congress and the White House want to be responsible stewards of both society and the U.S. dollar’s value, then rather than focusing on taxation of the rich, they should prioritize and supply exactly what it would take, in terms of real resources, to electrify the nation’s power grid, repair every deficient bridge, give caretakers a living wage, upgrade our railways, and deliver clean drinking water and high-speed broadband to every home. How many people will it take to do all of that work? How much steel, concrete and fiber optic cable? How many tower cranes and other kinds of building equipment will be needed? The list goes on.

    These are the questions we should ask our leaders, and the ones they should be asking themselves — not “How will we pay for it?”
     

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