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Chet Ruminski Wrote: Carlitos, I listened to the first minute of her lecture and I will listen to the entire presentation tonight. But listening to her introduction I realised there is nothing new in MMT. MMT has simply taken the logical approach to unwinding the years of lies spun by the people who only want to hoard and stagnate money. This world has enough resources to provide a wonderful living for every human on the planet. The simple answer is money velocity. Stagnation is the antithesis. Limited use vs dynamic use.
MMT is not "new" per se as modern money itself is over 2,000 years old. Chartalism predates Keynesianism.
What MMT does is consolidate and combine the works of Godley's "sector financial balances", Minsky's "financial instability" and "job guarantee", and Lerner's "functional finance," and many other giants in economics before them.
What's "new" is that MMT applies what was known and now forgotten to today's monetary system.