Re:Disturbing Rise of Modern Monetary Theory (MMT)
by AnimalMuppet on Monday January 21, 2019 @04:13PM
(#18963679)
> Is the current system brittle, and growing more so over time? Absolutely.
The current system is growing brittle along one axis.
After World War II, there was a cycle of recession and recovery, but each cycle had a higher level of inflation... until Reagan (or, if you prefer, Volcker). Since then, we've had the same cycle of recession and recovery, but each one with a lower level of inflation. But the problem has moved to a different axis - real wages.
The current system is growing brittle along one axis.
After World War II, there was a cycle of recession and recovery, but each cycle had a higher level of inflation... until Reagan (or, if you prefer, Volcker). Since then, we've had the same cycle of recession and recovery, but each one with a lower level of inflation. But the problem has moved to a different axis - real wages.