
Ep. 280 The Theory and History Needed to Refute Keynesianism and MMT
Bob Murphy Show
00:00
The MMT Years and Standard New Keynesians, Old Share
Joppa: In order for the Treasury to spend money on anything, it first needs to have the funds obtained through taxation or other things like fees or something. Joppa: The ECB put out a bulletin where they went through some historical case studies of what they called expansionary austerity. He says that in those cases governments had been running big deficits but managed to improve their fiscal position while their economy did not suffer. "You have to be careful a lot of times when people talk about austerity," he says.
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