The two journalists are like “ why don’t you explain that concept further.,, I’m asking for a friend “ 😂

good luck telling Politician to stop SPending when they hit the resource limits

Full employment is NOT resource availability. - Only a simpleton would think that since it ignores all the needs of an industrialized economy which includes long term skills, natural resources, development times that industries need to increase production, relocation and logistical requirements of natural resources and relocation costs of labor as well as a thousand of other needs like relative marginal costs of increased production.

I wish the minimum wage was valued at what my father made when he worked for minimum wage in the 60's...$1.25 an hour. Today his lifestyle / expense ledger would require that number to be $35 an hour! 😶

LOL the government should be "constrained" by a budget. As Alan Greedscam said the US government can meet all it's obligations pensions and other payments it can't guarantee their value.

I have a few questions.

How does it work in a globalized world and many different currencies? What happened if people stop having trust in the currency / ability of the government to pay? Would the economic decline of oil (petrodollars) and of United States as the world economic superpower change anything to that theory?

19:20

Trying to learn about MMT and found this now. Somewhat didn’t age so well with the comments about inflation and how developed countries can’t cause it. We now have it.

GORGEOUS. Thank you Mr. Wray & Bloomberg. from Japan.

The slow inflation of MMT is essentially an invisible tax on the lower middle class

Is MMT going to force a sort of resource correction where commodities find real value? Ie: water, wood, shelter, food?

His definition of MMT seems to differ from others. Other proponents say that the government has no need to issue debt or collect taxes because all of its spending can be funded by creating money. Taxes, they say, are needed only to control inflation.

What happens to the international contracts denominated in USD?

“We really have to worry about inflation”

How does one square the "phase in of $15 min wage" with the Green New Deal suggestion that mirrors the WWII plan of "Postponed consumption" of not "giving you a wage increase now" (at

... Honduras can issue currency, issue debt in its own currency, and demand tax in its own currency.

thank you!

I like how MMT wants to explain the way the current system works, but I worry it's a trojan horse for certain policies. Should Italy adopt their own soft currency? Or should they get a slice from the euro?

Fantastic. Thank you so much Randall Wray, and all your MMT colleagues :)