Is MMT Real? #4: J.W. Mason
RABBITHOLE
00:00
Local Currency
Local currency doesn't really address that problem it doesn't actually increase the financial capacity of these governments are there capacity to engage in fiscal policy. Historically local currencies were adopted for a couple of reasons because you had a complete financial breakdown where the banking system just wasn't operating. People who kind of like the idea of limiting engagement with the broader world and supporting local businesses come up with this stuff, but neither have anything to do with fiscal policy.
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