John Griswold
Jun 22, 2022

I notice how carefully you step around the only economic issue anybody seems to care about right now, and the one issue with MMT ideas that make so many people reject it as "voodoo economics". Understand, I don't necessarily reject MMT, but the fear of deficit spending causing inflation, eg. too many dollars chasing too few goods, is the basis of rejection of MMT hypotheses. Beefing up critical infrastructure puts demand strain on supply chains and productivity shortfalls, both in putting claims on too scarce raw and manufactured building materials, and by funneling higher wages into consumer pockets, but does little to nothing in the short and medium term to increase production to meet infrastructure and consumer purchase needs. I can see how the job guarantee would help mitigate business cycle recession, don't see how it helps inflation.

John Griswold
John Griswold

Written by John Griswold

Master carpenter, watercolor artist and beat up old jock…owned by Black Lab Bo who considers two tennis balls a minimum mouthful

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