Members banned from this thread: Hermes Thoth, SmarterthanYou, USFREEDOM911, cancel2 2022, PostmodernProphet, Legion, Truth Detector, Granule, canceled.2021.1, Boris The Animal, canceled.2021.2, MAGA MAN, canceled.2021.3, iewitness, Irish, CFM, Ralph, Wolverine, Sailor, Life is Golden, Bigdog, TTQ64, Getin the ring, zymurgy, Evmetro, Superfreak, PraiseKek, Eagle_Eye, katzgar, Joe Capitalist, countryboy, Tommatthews, volsrock, The Ugly Truth, BodyDouble, coolzone, rhym3pays, LV426, Loving91390, Yurt, Into the Night, Tkaffen, Enlightened One, Anarchon, artichoke and Bobb


Results 1 to 5 of 5

Thread: What Is Modern Monetary Theory, (MMT or Modern Money Theory) And Why Is It Important?

  1. #1 | Top
    Join Date
    Mar 2018
    Location
    USA
    Posts
    34,430
    Thanks
    23,941
    Thanked 19,095 Times in 13,072 Posts
    Groans
    0
    Groaned 5,908 Times in 5,169 Posts
    Blog Entries
    1

    Default What Is Modern Monetary Theory, (MMT or Modern Money Theory) And Why Is It Important?

    cawacko has used a term in the forum he calls MMT.

    I looked it up.

    "Modern Monetary Theory (MMT or Modern Money Theory) is a heterodox macroeconomic theory that describes the currency as a public monopoly and unemployment as the evidence that a currency monopolist is restricting the supply of the financial assets needed to pay taxes and satisfy savings desires."

    Modern Monetary Theory.

    But of course! That's about as clear as mud. What the heck does THAT mouthful mean?

    Perhaps a little discussion can help to provide a better understanding.

    Anyone like to take a stab at translating the above sentence?

    Thanks.

    PoliTalker anti-troll thread thief disclaimer: If this thread is stolen, plagiarized, will the thief have the nerve to use the entire OP, word for word? Including this disclaimer? If you want my take on it, you'll have to post to this original PoliTalker thread. I refuse to be an enabler for online bullies, so I won't post to a stolen thread. I won't even read it. If you don't see me, PoliTalker, posting in this thread check the author. This might be a hijacked thread, not the original.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

  2. #2 | Top
    Join Date
    Mar 2018
    Location
    USA
    Posts
    34,430
    Thanks
    23,941
    Thanked 19,095 Times in 13,072 Posts
    Groans
    0
    Groaned 5,908 Times in 5,169 Posts
    Blog Entries
    1

    Default

    Aha.

    So.

    Nobody else understands this either, eh?
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

  3. #3 | Top
    Join Date
    Nov 2017
    Posts
    53,513
    Thanks
    252
    Thanked 24,556 Times in 17,086 Posts
    Groans
    5,280
    Groaned 4,575 Times in 4,254 Posts

    Default

    Here you go. https://www.msnbc.com/velshi-ruhle/w...-1441424451688 It is a crappy theory equal to trickle down but its inverse.
    Economics is not science. if it were there would be a great agreement on how to manage the economy. There are many schools and popular ideas that end up lacking success when initiated.

  4. #4 | Top
    Join Date
    Dec 2016
    Posts
    34,576
    Thanks
    5,715
    Thanked 15,145 Times in 10,539 Posts
    Groans
    100
    Groaned 2,987 Times in 2,752 Posts
    Blog Entries
    5

    Default

    Quote Originally Posted by PoliTalker View Post
    cawacko has used a term in the forum he calls MMT.

    I looked it up.

    "Modern Monetary Theory (MMT or Modern Money Theory) is a heterodox macroeconomic theory that describes the currency as a public monopoly and unemployment as the evidence that a currency monopolist is restricting the supply of the financial assets needed to pay taxes and satisfy savings desires."

    Modern Monetary Theory.

    But of course! That's about as clear as mud. What the heck does THAT mouthful mean?

    Perhaps a little discussion can help to provide a better understanding.

    Anyone like to take a stab at translating the above sentence?

    Thanks.

    PoliTalker anti-troll thread thief disclaimer: If this thread is stolen, plagiarized, will the thief have the nerve to use the entire OP, word for word? Including this disclaimer? If you want my take on it, you'll have to post to this original PoliTalker thread. I refuse to be an enabler for online bullies, so I won't post to a stolen thread. I won't even read it. If you don't see me, PoliTalker, posting in this thread check the author. This might be a hijacked thread, not the original.
    Well my stab based on "the mouthful" is it is a theory that says we should just print a bunch of money, hyperinflation be damned.

  5. #5 | Top
    Join Date
    Mar 2018
    Location
    USA
    Posts
    34,430
    Thanks
    23,941
    Thanked 19,095 Times in 13,072 Posts
    Groans
    0
    Groaned 5,908 Times in 5,169 Posts
    Blog Entries
    1

    Default

    Hello Nordberg,

    Quote Originally Posted by Nordberg View Post
    Here you go. https://www.msnbc.com/velshi-ruhle/w...-1441424451688 It is a crappy theory equal to trickle down but its inverse.
    Economics is not science. if it were there would be a great agreement on how to manage the economy. There are many schools and popular ideas that end up lacking success when initiated.
    Thanks for that. It was a pretty interesting discussion. I am still struggling to try to visualize how this works. It sounds pretty scary. If the solution to helping the nation grow is to simply print more money that will cause inflation. Then, to deal with that, taxes have to be raised. Higher inflation? Higher taxes? That doesn't sound very good. What does that do to all the people on a fixed income? What does that do to people who worked their entire lives to build a nest egg? All the money they worked so hard to save is now worth way less? And it doesn't buy as much? How does raising taxes help that?

    I would say no. From my initial impression of MMT, I can't see how it could work.
    Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.

Similar Threads

  1. APP - I have a theory
    By canceled.2021.2 in forum Above Plain Politics Forum
    Replies: 33
    Last Post: 07-20-2018, 04:12 PM
  2. MMT - Modern Monetary Theory
    By cawacko in forum Current Events Forum
    Replies: 11
    Last Post: 03-12-2018, 06:28 PM
  3. oh the modern age!
    By tekkychick in forum Off Topic Forum
    Replies: 85
    Last Post: 09-15-2013, 01:45 PM
  4. WM's Libertarian theory
    By FUCK THE POLICE in forum Off Topic Forum
    Replies: 147
    Last Post: 02-29-2008, 05:58 PM

Bookmarks

Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •