#132 Phil Armstrong: Greece, The Euro & Getting The Money Story Right
The MMT Podcast with Patricia Pino & Christian Reilly
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Is the Nature of Money Telling Us Something About the Capacity of the State?
In the commodity story of money, the government is an external entity to the market. And in the m m t story ofMoney, the market not only was created, but relies on the government for continued existence. Is that the right way of seing, or is there a better way of framing that? No, i think that's an excellent will. I'll give you an example of why you're right. When i talk to an austrian school econonist, his first response was, quart, it's abhorrent. Now, with marks, mark sees the state as a collective capitalist. So in other words, the state, for the most part, is non productive
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