That's such a wonderful, beautiful end point of their (stupid) reasoning:) 

love the MMTers

That's a great point. Eventually, they'd work their way around to saying reducing inflation is the real benefit, like the MMTers do.

Undisciplined

Given that the US government is quickly approaching $40 trillion in debt, it doesn't seem that they are hindered by deficit spending. I wonder if Professor Madoff has an explanation for why more tax dollars extracted from rich  people will allow the state to do things that it currently feels unable to do via dumping some more debt onto the pile.

The belief seems to be that money is the limiting factor for state effectiveness even though I'm sure we can dig up plenty of examples of state spending in highly ineffective ways.

Politics_And_Law

econ

The Myth of the Free-Riding Billionaire (TDE, Paul Mueller)

denlillaapan

Given that the US government is quickly approaching $40 trillion in debt, it doesn't seem that they are hindered by deficit spending. I wonder if Professor Madoff has an explanation for why more tax dollars extracted from rich  people will allow the state to do things that it currently feels unable to do via dumping some more debt onto the pile.

The belief seems to be that money is the limiting factor for state effectiveness even though I'm sure we can dig up plenty of examples of state spending in highly ineffective ways.