Soft currency economics
by Warren Mosler · first published 2012
5mentions
2recommended by
3HN commenters
2015–2022first – last mentioned
67% recommend33% neutral
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…raises the price. When that, in turn, causes the government to further increase the money available, an inflationary spiral has been created The institutionalisation of this process is called indexing" Soft Currency Economics, Warren Mosler, p71 When you start critiquing MMT, always best to understand the source material first, rather then getting your view from Twitter et al. They don't understand what MMT is saying either.
on “Have we been thinking about inflation all wrong?” ↗…standards for all people in a nation. I'm no MMT expert, but here are some resources I've found to be helpful: How the economic machine works by Ray Dalio: https://www.youtube.com/watch?v=PHe0bXAIuk0 Soft Currency Economics II (This introduced the idea behind MMT): https://www.amazon.com/gp/product/B009XDGZLI/ref=ppx_yo_dt_b... Diagrams & Dollars: Modern Money Illustrated: https://www.amazon.com/gp/product/B00HUF6POI/ref=ppx_yo_dt_b...
on “When will USA's burgeoning public deficit bite it back?” ↗…meet. If, for example, there is a freeze in Brazil, the price of coffee may go up. The higher price accommodates the transfer of the remaining supply of coffee from the sellers to the remaining buyers" Soft Currency Economics II, Warren Mosler, pp70
on “Inflation propagates unevenly” ↗It's not my worldview. It's the world. http://bankunderground.co.uk/2015/06/30/banks-are-not-interm... http://www.amazon.com/Progress-Poverty-Henry-George-ebook/dp... http://www.amazon.com/Soft-Currency-Economics-II-Monetary/dp... I'm sure others can post more. Reality is the dreamworld as far as I can see. It's a total disaster that people don't understand they are seeing all productivity gains now (and forever…
…is Warren Mosler. He retired to the US Virgin Islands many years ago having made a fortune off the back of people who believed in the Quantity Theory of Money You can read his conclusions in the book "Soft Currency Economics".
on “Food Prices Are Soaring Faster Than Inflation and Incomes” ↗