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Unpacking Modern Monetary Theory w/ Warren Mosler

Real Vision: Finance & Investing

CHAPTER

The Constraints of MMT

Any country can sustain full employment if it wants to any country. Employment is a cost, not benefit. You've got to go to work and do stuff. It's like I remember when Greece problem first hit, the Europeans or Germans are saying things like, well, the Greeks are lazy. They don't want to work. So what's your solution? No, we're going to put them all out of work. There's no coherent discussions about these things. The real wealth is everything you can produce domestically that it adds to your pile of stuff. Everything you export makes it smaller. These are just fundamentals. They're in the oldest economics textbooks and they're universal.

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