The Great Simplification with Nate Hagens cover image

Michael Every: "The Many -Isms of the Metacrisis”

The Great Simplification with Nate Hagens

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Debt Creation and Claim on Resources

MMT is gaining traction by suggesting no limits to debt, but all the debt and financial instruments are essentially a claim on energy, materials, and ecosystem services. The money printed by the sovereign is a claim on these resources, which lies outside the scope of MMT. Despite this, Keynes' quote emphasizes that our affordability is based on our capability to act.

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