Is MMT Real? #4: J.W. Mason
RABBITHOLE
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How Does the Bank Create Money?
MT is an outgrowth of a longer existing tradition of sort of left Keynesian economics. Every time a bank makes a loan it creates new money and that includes, you know, a mortgage that happens rarely but it also includes the routine debts that arise all the time in regular transactions like making credit card transaction. You're a result of what you're going to want to do is make sure that they can pay for themselves are money because that's all money is.
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