And price gouging by the oligopoly. Anything for more profits, even at the expense of the public. More and greed are the two words most familiar with today’s corporations. Welcome to late-stage capitalism!
No. You will receive more indoctrination.
Says you. Why doesn’t Krugman or Summers debate an MMT economist and put this to bed?
Please explain how it doesn’t hold water. Have you emailed a prominent MMT economist and exposed them to their own lies or faulty reasoning?
Is that public money or corporations?
And what are they?
I don’t think that is controversial. I don’t think they did a good job at it though. The money hasn’t been soaked up by real assets.
I would expect for many items that this would be temporary. If lot’s of profits are easily gotten, it won’t be long until more people want in on those profits. Those new people will set their price a bit below the greedy corporation’s prices, and the greedy corporation will have to be a bit less greedy if they want to keep selling their product, this should process should continue until there is little profits (after paying expenses). The process is actually driven by the desire to make money.
It won’t work for everything. Companies that already exist that have large barriers to entry will be able to milk extra money out of people for longer. Companies that have alliances with each other to set prices. I don’t think that is a huge part of the economy though.
Have given you an idea of how it is mostly created. But you fail to understand it.
When did he debate a real economist, rather than shooting down another college student?
Red herring.
And your scholarship is poor.
These men are real economists.
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Still waiting on your definition of “Power of the Purse”
What is the practical value of learning how economics works on the federal level? Did you really ask this?
Tell this dummy, me. How have you changed your life because of your knowledge and belief in MMT? Besides pounding your keyboard.
How would you suggest @Bauber run his business if he believed in MMT?
IMO, this discussion is pointless. If all participants in this discussion bought in 100% into MMT how would anyone change their life?
BTW, can you lift weights at all? Or do you count pounding the keyboard as weight training?
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45:30 to 48:00
15:30 to end.
I think I will tell the IRS the next time I am audited…“hey, its an accounting gimmick. No worries.”
@castoli who pays for that permanent loss deferment?
Jesus. Really liked your socialist econ professor freshman year huh?
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The worst part is, they’re going to do it. Printer goes brrrr and poof, college loans paid off. I expect Biden to pull some shit before midterms.
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The ability for Congress to tax and spend public money.
39:36 to 43:12
How’s that for an answer?
“Who let that accountant in the room? Get him out of here.”
Like Greenspan says “the goal is to set up a system that all the money is employed to purchase the goods produced”. I was paraphrasing here. I realize that Greenspan used different words, but they pretty much mean the same thing.
So am I to think your beef is when the government creates too much currency but commodity based inflation is okay because the public caused it?