57sec snip

The Great Simplification with Nate Hagens cover image

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

The Great Simplification with Nate Hagens

NOTE

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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