Hoping to put the ECO in ECOnomics. Once you understand how economics shapes our world and can be used to help in most of our crises, you will get it. #MMT
Aug 18 • 17 tweets • 3 min read
Interesting post the other day suggesting that the UK was constrained in its ability to spend due to fiduciary constraints.
This is a long thread, I will add an unroll link at the end.
Firstly to be clear, the UK does not have such a constraint.
However…
Aug 16 • 21 tweets • 3 min read
Have been in a conversation about private debt being a net drain on the economy, here are my observations...
Sources listed at the end.
My assertion that "private debt is a net drain" stems from the asymmetric flow of money in debt contracts, particularly due to interest.
May 5 • 22 tweets • 3 min read
Thank you for your comment. I gather from said comment that you haven’t watched the video yet have heard that MMT doesn’t work.
The speaker, Wm Mitchell one of the architects of MMT, explains that MMT is a description of the monetary operations of all nations with (currently) free floating, sovereign currency, all nations bar a handful.
