Anyone who knows economics will see how much I butcher this but here it goes:
Basically modern monetary theory argues that the way we’ve set up our world, there’s really little to know consequence to the US and other large countries to just “print more money” to solve economic issues. Not in the sense of just handing people money, but that they can pay for government programs and stuff by dipping into an invisible pocketbook with no bottom by racking up debt with other countries. As long as we pay interest on it and keep other countries relatively happy everything goes fine.
Again, MMT is a modern economic theory with lots of papers written on it which is why it’s also being vouched for by the genius person in this meme.
In my opinion MMT seems like a sick economist brain way of admitting that we produce far more value and wealth than we use in this country, and instead of using that embarrassment of wealth to give humans free food, shelter, and medicine we invent a new way to keep up a class stratified society for long after it was economically necessary.
Anyone who knows economics will see how much I butcher this but here it goes:
Basically modern monetary theory argues that the way we’ve set up our world, there’s really little to know consequence to the US and other large countries to just “print more money” to solve economic issues. Not in the sense of just handing people money, but that they can pay for government programs and stuff by dipping into an invisible pocketbook with no bottom by racking up debt with other countries. As long as we pay interest on it and keep other countries relatively happy everything goes fine.
Again, MMT is a modern economic theory with lots of papers written on it which is why it’s also being vouched for by the genius person in this meme.
In my opinion MMT seems like a sick economist brain way of admitting that we produce far more value and wealth than we use in this country, and instead of using that embarrassment of wealth to give humans free food, shelter, and medicine we invent a new way to keep up a class stratified society for long after it was economically necessary.