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l0ng1nu5 | 1 year ago

The US since the GFC is probably the most obvious one.

As I understand it, pretty much every developed country employed mmt practice in response to covid.

Now we have (even more) rampant inflation and wealth inequality with no sign of slowing down.

discuss

order

t-3|1 year ago

"Pretty much every country" couldn't possibly employ "mmt practice" - a significant number of countries don't have sovereign currencies. That's ignoring the fact that MMT is descriptive rather than prescriptive, it doesn't have practices, it is a theory used to describe how a modern economy with sovereign fiat currency works.

l0ng1nu5|1 year ago

I said developed country which is a pretty major distinction. Maybe my definition is off but it appears to prescribe the printing of currency which is consistent with what we've seen in most major economies and low and behold - we have rising inflation and wealth inequality.

amrocha|1 year ago

I see, by “MMT” you mean quantitative easing. Not really the same thing.