Goldtent TA Paradise

A Free Market Economist’s take on MMT

1. pedro_deleon says:

   April 10, 2020 - 1:12 pm at 1:12 pm

   Takes him awhile to get to the rub, around 7 min mark.
   But he makes the same point I made last week when this topic came up.
   MMT shifts spending from private sector to public, and specifically to whatever politicians choose, based frequently on whatever the lobbyists who fund them push for. So you get more mis allocation and waste of the kind governments are known for.
   And even more importantly (from a social welfare standpoint), you are depriving society (increasingly over time) of what the entrepreneurial sector would create. This is all perfectly described in Tom Hazlitt’s magnificent Economics in One Lesson — free PDF at Mises, and an easy weekend read.

   • Fullgoldcrown says:

     April 10, 2020 - 2:46 pm at 2:46 pm

     Point made pedro

     But nowhere in this discussion was hyperinflation mentioned.

     Hyperinflation seems to me the main theme for detractors of MMT