Tuesday, April 13, 2021

MMT: Incompetent government will try that and impoverish the nation.

 The margin between success and failure can be very thin. Sometimes incompetents can be lucky, but sometimes competents can be unlucky. This ties right into Modern Monetary Theory and why it should not be dismissed with, "Well the government can just print money whenever it wants to." Incompetent government will try that and impoverish the nation.  Competent government will spend in ways that look to be good investments for the nation and will have a good chance that its investments succeed well enough to more than make up for failures and bad luck. It will enrich the nation. While both liberals and conservatives will be more competent (in my not-so-humble opinion) once they become converts to MMT, they will still argue like hell with each other.

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