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3min chapter
What's wrong with MMT? ft. Eric Leeper & Ben Ritz
The New Liberal Podcast
What Is the End of M M T's Analysis?
The government has no resources. All those resources are in the hands of the private sector. So where economics comes into play is when you ask the question, how many resources can one new dollar buy? These are voluntary exchanges that are getting made. The government prints up new currency and says to people, ah, sell us your car. Well, at what price are people willing to sell that car? And so that critical element in the mechanism is what doesn't get discussed by m m t.
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