Everything You Want to Know About Modern Monetary Theory

Comments · 801

• SC

  @scottrobinson8590 · 2 years ago

  I think what most seem to miss, often in bad faith is that MMT is a description not a prescription.

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• MS

  @mswindoc · 4 years ago

  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!  😶

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• RA

  @RaptureReady2025 · 6 years ago

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

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• AL

  @allthereis6839 · 1 year ago

  If this is Bloomberg TV: So why don´t you even get the audio level right???

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• ER

  @erikeparsels · 2 years ago

  The moderator starts off confused from the very start by characterizing MMT as the idea that the government can issue much more debt than commonly thought.  This conflation of government fiat spending with "debt" is kind of the opposite of MMT.  When you have the power to issue currency and pay for things with it and have everyone accept that currency no questions asked, it's kind of obvious that you aren't borrowing.

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• MA

  @MarkMark-ji6ts · 7 years ago

  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.

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• BE

  @behrensf84 · 3 years ago

  oh how things have changed....

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• SH

  @shaulasark · 7 years ago

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

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• RA

  @randoroo2540 · 2 years ago

  Watching this interview of Professor Wray I'm reminded of the quote by Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions order, and adaptation to the unknown, can be achieved more effectively by decentralizing decisions and that a division of authority will actually extend the possibility of overall order. Yet that decentralization actually leads to more information being taken into account." Hopefully Professor Wray humbles himself to that possibility in time. But with how confidently he asserts that only he and a select group of other people actually understand how money works, I imagine that humility for him will remain elusive.

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• BO

  @boulderlist1094 · 6 years ago

  &quot;we want people to be productive?&quot; for who? Government or government&apos;s society?<br>People should be encouraged to work for what people is good at and what people likes to do. As Warren Buffett said, &apos;people just need cash&quot;. Being slaved by government programs and waiting to be picked up by a private sector shouldn&apos;t be even considered.

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• RE

  @real1t1ychek · 7 years ago

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

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• MI

  @missj.4760 · 6 years ago

  How does it work in a globalized world and many different currencies? &nbsp;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?

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