economics, modern monetary theory 

I think I've finally figured out my (admittedly very naïve) issue with MMT: if governments purchasing in their own sovereign currency run up against a vendor with a monopoly on a product, the market for that product breaks down. The monopolistic vendor can in theory demand an infinitely high price, and presumably would get paid.

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economics, modern monetary theory 

the context here is that, according to MMT, governments can purchase anything for sale in their own currency.

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This is a tiny instance.