Yeah but if you're printing money to fund hospitals and schools, that gets a bit tricky.Yossarian wrote:You bring it down by reducing government spending.monkey wrote:It's a bad idea to fund ongoing public expenditure by printing money. You get into a trap then and that can / does lead to uncontrollable inflation (uncontrollable isn't the word as it suggests skyrocketing inflation, which needn't be the case, but it's hard to bring it down when you need to).
Facewon wrote:https://www.vice.com/en_us/article/a34n54/modern-monetary-theory-explained
I assume this or something like it has come up before?
Anyone with thoughts?
Looks good. Will give it a go tonight.WorKid wrote:I've been meaning to post parts of this for a while. I'm on my phone right now which makes it a ballache. https://www.bankofengland.co.uk/-/media/boe/files/speech/2018/how-monetary-policy-affects-your-gdp-speech-by-andy-haldane.pdf It's a great read. You may not agree with it all, you may not agree with any of it, but it explains a lot of the thinking.
Yup, better for exports, worse for imports. But then a stronger dollar is the opposite. It's a trade-off between jobs and prices. You need to aim for the balanced sweet spot where you can export competitively while importing cheaply.Liveinadive wrote:Interesting. It does leave me wondering how that model sits on the world stage though, quite an important factor not discussed there. Does printing more $ not devalue it against other currencies? Which would increase the relative costs of imports. Genuine question, I'm struggling to wrap my head around.https://www.vice.com/en_us/article/a34n54/modern-monetary-theory-explained I assume this or something like it has come up before? Anyone with thoughts?
WorKid wrote:Keeping jobs going is really fucking important though. If that's what is being achieved then that's a great outcome, ie if the alternative is mass unemployment, and we know it won't be the 1% who end up unemployed.
Not opposed in principle, just in reality.Yossarian wrote:I get the impression that the rich aren’t all that opposed to these sorts of ideas on the whole, the issue is one of political will to try and build such a system.
Lord_Griff wrote:
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