Todd R Johnson
@toddrjohnsonInformation Visualization, Education, Information Science, Woodworking
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RE: MODERN MONETARY THEORY - can anyone explain major differences between MMT and current monetary system?
Trouble is that fractional reserve lending does the same thing--creates money out of thin air. The difference is that a loan is supposed to be based on some value-add that will allow the borrower to repay
RE: MODERN MONETARY THEORY - can anyone explain major differences between MMT and current monetary system?
Our current banking system, in which money is created out of thin air each time a loan is granted, is essentially printing money. I guess the difference between fractional reserve lending and MMT is that