This was published via Bloomberg Markets yesterday, and I thought it worth sharing:
THAT'S NOT MMT
In today's @Markets newsletter, I wrote a very simple guide to what is and isn't MMT, since lots of people are very confused on the subject and abusing the term.
Share with anyone who is confused! https://t.co/Pl5nZqsNJq pic.twitter.com/Kc4ZicyZHz
— Joe Weisenthal (@TheStalwart) January 19, 2021
Just click the image to read the whole piece.
What is good is that it was published.
That it's useful is a bonus.
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Well, on a day of awful weather, this is a ray of sunshine.
Looks interesting, but cannot read it properly from the screenshot; is there another way you could present this?
You have to open the tweet by tapping on it and then you can read it all
I know (I would not have wasted your time for that): I did all you advise the first time, but the print is Lilliputian, and it does not allow enlargement.
Sorry….
John,
Tiny text is one of my pet-hates – people think the digital age means they should cram in as many words as possible into the smallest space they can instead of considering readability. Anyway – I haven’t looked at it myself, but you should be able to save it to whatever device you are using, assuming it’s a jpeg or a png file – either right-click with a mouse (save as etc), or hold finger on it for a few seconds & you should get a choice to save on a touch screen. Once you’ve saved the file to your device you should be able to zoom in and out as usual on that file (if you can find it) – the resolution is likely to be crap though, so it might not help, but it’s always worth a try I find.
Thanks
I note that the article implies that MMT is neutral on whether deficits or surpluses should be run. It is described as consistent with the Clinton surplus years. I guess that we can also say the early years of Lutz von Krosigk qualify.
Until his boss wanted some resources not available in the country’s own currency.
MMT is not a prescription, it’s a description, of of how government finances actually work.
Once you understand how it works, there are a number off policy approaches you may want to pursue, not all of them good.
What’s the difference between “aggressive deficit spending” and “monetary financing”?
How it is funded