Did you see the New York Times Editorial Board's piece "America is Living on Borrowed Money"? Arrgghhh it's so frustrating. It's like Stephanie Kelton said, "These are the times that try men's [and women's] souls." I read through the comments earlier this morning (when there was about a 100 or so) and there was one comment that sort of mischaracterized MMT as some kind of prescriptivist doctrine, and literally every other comment uncritically accepted the premise of the piece, namely, that the federal government "borrows" its own IOUs (dollars) which it had previously spent into existence. It's so frustrating 😭
Um, yeah; Modern Monetary Theory actually used be called "Mosler Economics" because he was the first to widely publicize it all (not the first to know or even just notice but the first to scream from the rooftops, as it were).
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Did you see the New York Times Editorial Board's piece "America is Living on Borrowed Money"?
Arrgghhh it's so frustrating. It's like Stephanie Kelton said, "These are the times that try men's [and women's] souls." I read through the comments earlier this morning (when there was about a 100 or so) and there was one comment that sort of mischaracterized MMT as some kind of prescriptivist doctrine, and literally every other comment uncritically accepted the premise of the piece, namely, that the federal government "borrows" its own IOUs (dollars) which it had previously spent into existence. It's so frustrating 😭
03:56 - Warren Mosler ? ? ? ? ?
Um, yeah; Modern Monetary Theory actually used be called "Mosler Economics" because he was the first to widely publicize it all (not the first to know or even just notice but the first to scream from the rooftops, as it were).
03:55 - C F A P S ? ? ? ? ?
"Complete Foreign Aid Projects"...seems to be a Developmental Economics term, seemingly used mostly by China.
02:41 - Q : 02:55 - A :