Is MMT Real? #4: J.W. Mason
RABBITHOLE
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Is the Government a Household?
Timothy Stanley: I feel like I spent my whole life being told that the government was essentially like a household. The story really doesn't work money is created routinely by the financial system and all sorts of transactions if you go to the store and use your credit card to buy something you've created money it just happens every day. He says we also need to understand why government spending is effective at doing the things we wanted to do macroeconomically in other words, how does government spending actually deliver the things that we wanted to deliver?
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