Comment on Modern Monetary Theory: Musk Edition
DeadDigger@lemmy.zip 6 days agoWell with fiat money we do that basically all the time and don’t have a run away inflation
Comment on Modern Monetary Theory: Musk Edition
DeadDigger@lemmy.zip 6 days agoWell with fiat money we do that basically all the time and don’t have a run away inflation
Furbag@pawb.social 6 days ago
We do print money and we have steady inflation, but inflation is still inflation.
A lot of people seem to be clinging onto the wrong concept here. Nobody is arguing against the reality that the government can print money to pay it’s own debts or solve an economic crisis, because they obviously do it all the time and sometimes the damage done from the inflationary reaction caused by printing more money is significantly preferable to what the alternative could have been (severe recession, economic collapse, etc.).
The point I am trying to make is that Elon is making a specific claim that printing money has a deflationary effect, which I have personally never seen evidence of, no economist has ever seriously theorized, and flies in the fact of common sense and human nature.