Preaching Modern Monetary Theory

The Author writes and speaks about a macro economic theory like a Preacher is preaching a new religion. People who don't believe that printing money will solve all depth problems are "blind", but by patiently explaining them MMT, some opened their eyes..... The book has too many reptitions. 1/5 of the lenght would have been enough.

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I don't buy it

Speaker is okay.

For the rest it seems to me like wishful thinking. Nice sounding goals but in the end it comes down to:
Government can issue currency as it likes and buy everything that's for sale for it's policies.

Often mentioned to keep Inflation in check and how Inflation can be measured differently. Has anybody tried to buy a house recently ? For me asset price inflation is inflation since it is part of the stuff I want to own.

Talking about environment: We are just limited by Ressourcen Not Money supply. so if you use all ressources to the fullest, some might argue if this environmental friendly.

A big problem might be how to enable people to do stuff that is valuable while at the same time not destroying businesses that key is this stuff.
And if it is really of value, then the market economy has incentives to do business in these niches.



Biggest contra argument in my opinion:
It all runs under the assumption, that the people will continue to use the issued currency. I view the ability to inflate the money supply as the option to defecate in all people's purses holding the issued currency as the dilution takes place. Maybe people won't sell for fiat currency any longer, if this gets too extreme. Have you heard of these decentralized so called crsptocurrencies lately?
I try to hold the least amount of cash and bonds possible and comvert fiat to stuff I view as assets the fastest way I can (mostly stocks, even though priced historically high, but at the moment more trustworthy to me than most Crypto) since I don't want to hold it when another quintillion is created over night.


In case of Moslers kid's: if dad makes requests all to silly, do other stuff for your neighbor and earn other currency, that buys you other privileges.
If not possible And dad gets overly crazy with his requests, they could leave home as soon as old enough. Old enough may be dependent on the "pain caused by misallocation", the madness level of dads wishes to earn his cards.

I view myself as austrian school type and think people like Milton's Friedman got it mostly right. Basic income by negative income tax proposed by him doesn't sound that bad either, doesn't it?

Another good read:
Basic Economics by Thomas Sowell ("Enjoy the scarce ressources that have alternative uses" Mantra)

and
Economics by Mankiw &Taylor



Best wishes from Europe, no financial advice

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Wünsche diesem Buch eine weite Verbreitung

Wichtiges Thema gut verständlich und überzeugend erklärt. Durch das Buch habe ich viel gelernt und ich werde das Wissen weitergeben wo immer ich kann. Sehr befreiend war die Erkenntnis dass Vollbeschäftigung und eine gute Grundversorgung für alle auch über Konjunkturzyklen hinweg aufrecht erhalten werden können und wie man trotzdem genug Möglichkeiten hat eine Inflation zu vermeiden.

What a book!

Thought provoking and eye opening. Mrs Kelton presented a clear and incredible argument. A must listen.

Must read, 10/10

A worldview shattering book, explained in simple everyday terms. A must read for any citizen who cares deeply about public policy. Read it, re-read it, and then share it with everyone you know.