Saturday, 21 January 2012

Debt, Deficits, and Modern Monetary Theory

Possibly one of the best initial overviews of MMT written so far:

Debt, Deficits, and Modern Monetary Theory

Good comment as well:

"Every dollar spent is somewhere saved." The important thing is to maximize the number of pit stops that dollar makes (in whole or, inevitably, fractionated form) before coming to rest as [long term] savings (ie reserves).