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submitted 6 months ago by return2ozma@lemmy.world to c/memes@lemmy.world
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[-] TheWorstMailman@lemm.ee 12 points 6 months ago* (last edited 6 months ago)

This is Modern Monetary Theory (MMT). I recommend "The Deficit Myth" by Stephanie Kelton

It helped me to realize that a federal government that's in control of their own money doesn't use or even have money, and basic terms that we take for granted mean something different in that context. A federal government creates money through spending and destroys money through taxes. It is necessary for a federal government to spend money in order for money to exist in the economy. So a national debt just means that the federal government is creating more money that is destroying

this post was submitted on 22 Mar 2024
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