Summers is a neo-liberal idiot, and I completely agree with MMT that fiscal deficits are virtually entirely irrelevant. What I don't get is why MMTers don't have their hair on fire for a 50% discount/rebate policy at the point of retail sale which would immediately double everyone's purchasing power, integrate beneficial price and asset DEFLATION into profit making economic systems and which policy in doubling potential demand politically unites labor and management against Finance and isolates them by exposing their monopolistic paradigm of Debt Only. I want progress, but I'd love to have paradigm change a lot more.
Summers is a neo-liberal idiot, and I completely agree with MMT that fiscal deficits are virtually entirely irrelevant. What I don't get is why MMTers don't have their hair on fire for a 50% discount/rebate policy at the point of retail sale which would immediately double everyone's purchasing power, integrate beneficial price and asset DEFLATION into profit making economic systems and which policy in doubling potential demand politically unites labor and management against Finance and isolates them by exposing their monopolistic paradigm of Debt Only. I want progress, but I'd love to have paradigm change a lot more.