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Hey all-
As per the title; MMT. Have the STW massive been reading up on this? I have, and its making my head spin somewhat. It makes a lot of sense, and if implemented in the UK would/could change everything, literally.
For those who haven't heard of it, here's an intro:
(I should say that I studied economics for 2 years as part of a degree course years ago and have maintained an interest in it ever since, and as well as all the online stuff I've read, bought and read Stephanie Kelton's book. And I'm still conflicted...)
You asked for uninformed opinions. A friend studied economics at uni. I read one of his introductory textbooks in a weekend. I'm exactly what you asked for.
All I know about MMT is that Keynesians say it is just a reformulation of Keynesianism, and that Paul Krugman criticizes it for downplaying the effect of deficit financing during times of economic growth. Krugman knows more about economics than me, I'll trust his judgement on that point.
My brain hurts. Economics is unfathomable to bozos like me. Though I think I understood some of it. I learned that there most certainly is a magic money tree, despite what Theresa May would have us believe.