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On 4/20/20 8:41 PM, MM wrote:
Just to say a little more: The key is how the new money is spent, and specifically whether it is spent on developing the kind of productive infrastructure that any good socialist government would build: public transport, hospitals, schools, local farms, factories to produce basic consumer goods, etc.
Yeah, but that's exactly what was happening in Nicaragua. I was president of the board of Tecnica that had close relations with Paul Oquist, Ortega's chief economic adviser. The government printed money and it was like Germany in the 1920s. I'd be willing to read something written by an MMT proponent. I used to be in contact with Nathan Tankus but lost touch.
Much of what I've heard about MMT seems geared to G7 nations. If it was so easy to lift a country up by its own bootstraps, it seems made to order for the global South. Right? So, why hasn't it been adopted universally?
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