Search Results for: inflation

Manhattan Project to prevent Hyper-Inflation

By J.D. ALT It’s ironic that, at this moment, when the truthfulness and utility of modern money theory (MMT) is being publicly realized—(and even potentially implemented!)—that its singular vulnerability must emerge as a real concern: hyper-inflation. The most recent thing … Continue reading

Money and Banking – Part 11: Inflation

By Eric Tymoigne We are done with the study of banking operations. The next step is to incorporate them into the analysis of macroeconomic issues and this post begins on such topic by focusing on inflation. When inflation is mentioned, … Continue reading

The “Debt Crisis” According to Bruce Bartlett: Household Analogy, Inflation, Savings, and Taxes

In the first two parts of this series of commentaries on Bruce Bartlett’s testimony to the Senate Budget Committee, I’ve reviewed the first 8 paragraphs in his statement. These points debunked various concerns of those who think the United States … Continue reading

Replacing the Budget Constraint with an Inflation Constraint

By Scott Fullwiler Tim Worstall has a post decrying the dangers of MMT ever being used in the real world—even as he recognizes or at least suggests that it might be the correct description of how the monetary system works—and … Continue reading

Real Fiscal Responsibility 3; Carter: Inflation and Health Care

By Joe Firestone Here’s the third post in my series evaluating the fiscal responsibility/irresponsibility of the Governments of the United States (mostly the Congress, the Executive Branch, and the Federal Reserve) by Administration periods beginning in 1977 with the Jimmy … Continue reading

Platinum Coin Seigniorage, Issuing Debt, Keystroking Deficit Spending, and Inflation

By Joe Firestone The most frequent objections to proposals that we use Platinum Coin Seigniorage (PCS) to create reserves for debt repayment and deficit spending, frequently come back to inflation. Perhaps people can’t get over the association they learned in high … Continue reading

An Alternative Meme for Money, Part 6: Alternative Framing on Inflation

By L. Randall Wray As we have discussed, sovereign government cannot run out of the keystrokes it uses to mark-up balance sheets as it spends. Does our argument rely on modern technology, that sends electrons or photons (I’m not sure … Continue reading

MMP Blog #51: The Efficiency Fairy and Inflation Goblins

By L. Randall Wray The main objection to MMT is the belief that adoption of a fiat money necessarily leads to high inflation if not to hyperinflation. Those who adopt this critique usually see MMT as a proposal, although some … Continue reading

Coin Seignorage and Inflation

By Scott Fullwiler Solving the debt-ceiling issue via proof platinum coin seigniorage—an idea that began and was nurtured within the MMT ranks, mostly by Joe Firestone and Beowulf (see Joe’s post here and the numerous links therein)—has gone viral in … Continue reading

Scott Sumner Agrees that MMT Policy Proposals Are Not Inflationary

By Scott Fullwiler Scott Sumner sets out to debunk theories of the price level not based on a form of the quantity theory of money, and lumps MMT in with those approaches that “deny open market purchases are inflationary, because … Continue reading