Bank of England goes MMT

26 June, 2017 at 17:25 | Posted in Economics | 2 Comments

 

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  1. MMT involves much more than what this video depicts. And the bit that it does explain is wrong because currency type money is not time-limited whereas a private promise to repay a loan is. The example of the farmer delaying payment for food input is time-limited and nobody would agree to him making his own currency to cover his debt.

    • Currency-type money is not only not time-limited, it gains in value over time, as the persistent violation of covered interest parity since 2008 shows: the US Dollar is worth more in the future than today.


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