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.
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.