Is MMT Real? #4: J.W. Mason
RABBITHOLE
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Is It New?
Timothy Stanley: MMT is a more widely held opinion now than it was a decade ago. He says people who said governments like the U.S. face financial constraints made strong, unambiguous predictions. But he says they didn't see inflation that's consistently too low or dollar gaining in value relative to other currencies. Stanley: People were sort of locked into this vision of the economy which is all about trading real resources between people and didn't really think about how an economy with money works very differently.
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