Re:Tech experts urge Washington to resist crypto industry’s ...
by dools on Thursday June 02, 2022 @07:32PM
(#31601980)
> MMT requires the government to raise taxes once inflation starts rising due to previous money printing.
That’s a common misconception. Have you seen any MMT economist advocate a tax increase recently?
Here is an excellent podcast with one of the most eminent MMT scholars Randall Wray discussing his recent publication on how to deal with inflation in the US currently:
https://realprogressives.org/podcast_episode/episode-173-inf...
Here is the publication:
MMT requires the government to raise taxes once inflation starts rising due to previous money printing.
What are governments doing now? They are actually thinking of handing out more money to people to offset the effects of inflation (thereby making the inflation worse).
In other words, MMT requires governments to always do the right thing, which they don't.
That's ignoring the theoretical underpinnings of MMT which are by no means unassailable.