An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
In the latest episode of our Of Interest podcast, Steven Hail gives the MMT perspective on the monetary system, inflation, climate change & more — Gareth Vaughan
The second thing to say is what was the alternative to supporting businesses and supporting people during the pandemic and during lockdowns?" Hail asks.
In theory, when an economy is damaged or destroyed, people stop paying their bills, their rent, their debts, etc. So many people do this that enforcement becomes impossible. There are not enough bill collectors, and too few sheriffs to carry out evictions. In the case of lockdowns, the economy was partially suspended. So the alternative to supporting people financially was the formal/legal suspension of financial obligations.
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The second thing to say is what was the alternative to supporting businesses and supporting people during the pandemic and during lockdowns?" Hail asks.
Npt having lockdowns.
In theory, when an economy is damaged or destroyed, people stop paying their bills, their rent, their debts, etc. So many people do this that enforcement becomes impossible. There are not enough bill collectors, and too few sheriffs to carry out evictions. In the case of lockdowns, the economy was partially suspended. So the alternative to supporting people financially was the formal/legal suspension of financial obligations.
Exactly they should have granted a blanket force majuere across the entire economy if they did lockdowns,,,
Or rather like you say don’t do the lockdowns in the first place.,,
It was so bad they gave everybody who didn't even miss a beat thousands of $ and told everyone don’t go to work … very destabilizing policy…
It’s kind of funny to watch the MMT people always dangle in the climate nutter stuff to try to get more people interested in their theory…
Proponents of MMT should steer clear of green-washing schemes.
"It was so bad they gave everybody who didn't even miss a beat thousands of $"
Right. Millionaires got money; regular people who needed it didn't.
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