Having written what I had to say this morning I went to New Economic Perspectives to see what new thing Randy Wray had to say about his development of the meme for money.
Coincidental? Should I be surprised? Convergence?
Randy's beginning paragraph:
Deficits and Debt are probably the most terrifying topic that MMT
addresses. We need to be careful. We are treading on moral (or
religious) grounds. We know that one should not be a debtor (or, a
creditor)—most religions tell us so. One who proclaims that deficits and
debts are OK is automatically engaged in blasphemy of various sorts,
not least of which is a crime against morality. Let’s try to frame the
discussion.
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