1Dime Radio
Magic Money Theory (Ft. Warren Mosler)
Mar 24, 2025
Warren Mosler, the founder of Modern Monetary Theory (MMT), dives into the revolutionary concepts of government spending without relying on tax revenue. He critiques Trump's tariffs and their effects on trade and inflation. The conversation explores alternatives to Universal Basic Income, favoring a job guarantee to promote a stable economy. Mosler also rethinks taxation, suggesting property taxes over corporate taxes to increase efficiency. His insights challenge traditional economic views and promote a more equitable approach to government finance.
49:38
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Quick takeaways
- Modern Monetary Theory (MMT) challenges traditional views on money creation, asserting that government spending precedes taxation, reshaping economic policy discussions.
- High tariffs imposed by governments can hinder trade relationships and economic growth, emphasizing the need for alternative approaches to international commerce.
Deep dives
Understanding Magic Money Computers
The concept of 'magic money computers' refers to government computers that generate funds digitally, often without a clear connection to real economic backing. These computers, primarily located at the Treasury and other government departments, process trillions in payments that don’t necessarily reflect true or accurate fiscal data. This reality suggests that government financial systems can sometimes operate independently of traditional accounting methods, leading to discrepancies in reported financial figures. The notion raises questions about the transparency and integrity of governmental fiscal operations.
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