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Inflation thread 🧵
Beneath the models, mainstream economists make huge assumptions about the nature of individuals allegedly constituting “the market”. Yet they have never made any robust or close intellectual contact with the field of psychology and don’t care to do so
Beneath the models, mainstream economists make huge assumptions about the nature of individuals allegedly constituting “the market”. Yet they have never made any robust or close intellectual contact with the field of psychology and don’t care to do so
Instead, it has always relied on a poor imitation of 19th century energy physics. It is this ideological and religious attachment to outdated science disguised as a theory of the market that tells us “printing money” causes inflation, like magic or gravity
“Printing money” is rhetorical code for excess, linked to social unrest and many of the bigotries/scapegoating we project onto marginalized people (gay, women, POC, immigrants, etc) in times of collective anxiety and hardship to associate with economic volatility w/ the “Other”
"Inflation the Boogeyman"
versus
Inflation in reality
[#LearnMMT THREAD v1]
WARNING: Just by **reading this thread** you (yes you) are causing a tidal wave of inflation that no plumber can ever fix.
Good job. 👍
versus
Inflation in reality
[#LearnMMT THREAD v1]
WARNING: Just by **reading this thread** you (yes you) are causing a tidal wave of inflation that no plumber can ever fix.
Good job. 👍
2/ Those who do not understand #MMT, or do not want you to understand MMT, will say things like:
"Creating money causes inflation. Creating it beyond that causes hyperinflation."
So, creating one dollar 👉Inflation!
Daring to create that second dollar 👉 **hYpERinFlATiOn**!!!
"Creating money causes inflation. Creating it beyond that causes hyperinflation."
So, creating one dollar 👉Inflation!
Daring to create that second dollar 👉 **hYpERinFlATiOn**!!!
3/ The idea that
“Creating money causes inflation."
is as ridiculous as saying
“Birth causes crime."
I mean, all criminals are born, amiright?
“Creating money causes inflation."
is as ridiculous as saying
“Birth causes crime."
I mean, all criminals are born, amiright?
