Is MMT Real? #4: J.W. Mason
RABBITHOLE
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Are We Going to Take Wages Completely Out of the Market?
The final question is this incomes policy. Is this a totally crazy thing? Or is this a doable thing? I think Germany does it, but I want to hear more. If rich people never spend the money they are saving, there is no inflation - right? Mm-hmm. And if they do spend themoney they are currently saving,there is inflation. So without, you know, there's money out there, but if it's in an account somewhere, is it not causing inflation or is that being lent out to someone? Yeah. We're also going to ask him the basic questions: Is it true? Is it new? Is it useful?
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