Map Enthusiasts

2999 readers

275 users here now

For the map enthused!

Rules:

post relevant content: interesting, informative, and/or pretty maps
be nice

founded 1 year ago

MODERATORS

[email protected]

GDP per capita progress in South America (lemmy.basedcount.com)

submitted 2 months ago by [email protected] to c/[email protected]

38 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 2 points 2 months ago

MMT says you can get away with spending slightly more than you take in. The logic is that if you can print it you're not going to run out, per se, and a small amount of inflation is thought to be good anyway. I'm not qualified to comment on how correct that is, but it's true most countries accumulate debt over time, and nobody in finance cares until it's multiple times the annual GDP.

If you're straight up pretending that making more money gives you more stuff, your green paper is just going to lose the fight with reality. Places like Venezuala or Zimbabwe, instead of taking the hint early on, double down, and that's how you get 100 trillion dollar bills after a while.