You’re not wrong. Burning is what they used to literally do in earlier times, and the conceptual model today is exactly the same even if there’s no literal burning.
How is that? In my view, MMT follows logically from the simple accounting idintity that debits and credits must balance, and the oberservation that the government is the monopoly issuer of its own currency. I’d be glad to hear your perspective though.
Noone gets it really. The government collects it, but then it “burns” it, just like it does tax revenue.
Give government people credit. They’re smarter than you think. Money that’s “oops” wasted went exactly where they intended
Found the Randall Wray enjoyer. :)
You’re not wrong. Burning is what they used to literally do in earlier times, and the conceptual model today is exactly the same even if there’s no literal burning.
People don’t like hearing it though. Idk why.
Because it is incorrect? Modern Monetary Theory has incredibly shaky ground upon which it teeters.
How is that? In my view, MMT follows logically from the simple accounting idintity that debits and credits must balance, and the oberservation that the government is the monopoly issuer of its own currency. I’d be glad to hear your perspective though.