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posted by Dopefish on Saturday March 01 2014, @02:30PM   Printer-friendly
from the pass-go-and-collect-$200 dept.

buswolley writes:

"Is the United States or the EU really too poor to afford to build the things each needs to maintain prosperous nations? Modern Monetary Theory (MMT) posits that America is not too poor in real resources to do the things it needs to do, and now proponents of the theory have adapted the rules of the classic board game Monopoly to demonstrate their case. For those that do not know what modern monetary theory is about, a suitable primer on the topic might be Warren Mosler's Seven Deadly Innocent Frauds of Economy Policy or Diagrams and Dollars, either as a book on Amazon or on-line for free at NewEconomicsPerspectives.org.

While the Modern Monetary Theory perspective tends to elicit disbelief and even rage, I think it is important for any scientist and geek to weigh the evidence carefully, and by doing so understand better about how and why money is created and destroyed."

 
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  • (Score: 0) by Anonymous Coward on Sunday March 02 2014, @01:24AM

    by Anonymous Coward on Sunday March 02 2014, @01:24AM (#9320)

    OK, great. So your investors didn't realise that they were going to get burned by a government with a ludicrously inflationary strategy, and the result is that the investors essentially fall victim to a default by inflation.

    Conversely, the investors demand such a punishing level of interest with such draconian security terms that the government squeals to anyone who will listen about international conspiracies, the evils of capitalism, and how capitalists can't be trusted.

    Citation: Argentina.

    This is why there are practical limits to debt financing of governments.