December 2, 2020

MMT works just fine (for the Oligarchy)

 Comment on Editor on ‘U.S. billionaires and the pandemic’*

The macroeconomic 3-sector ProfitLaw Q≡(G−T)+(I−S)+Yd implies Public Deficit = Private Profit, meaning that the MMT policy of deficit-spending/money-creation is a free lunch for the Oligarchy.#1, #2

The COV19-triggered acceleration of deficit-spending/money-creation will result in the biggest profit explosion ever. Thus, COV19 is a godsend for the Oligarchy. Politically, this is old stuff in a new package.#3

MMT policy works just fine ― for the Oligarchy.#4

Egmont Kakarot-Handtke


Source: RWER

US Deficit in 2020

Source: Google


Source: The Balance

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