MMT Heaven and MMT Hell for Chinese Investment and U.S. Fiscal Spending
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By Michael Pettis This post first appeared at China Financial Markets on the Carnegie Endowment for International Peace There are conditions under which governments can create money—or debt—without fear of inflation or excessive debt burdens. There are other conditions under which debt or money creation can lead to inflation and balance sheet problems.
MMT Heaven and MMT Hell for Chinese Investment and U.S. Fiscal Spending
MMT Heaven and MMT Hell for Chinese…
MMT Heaven and MMT Hell for Chinese Investment and U.S. Fiscal Spending
By Michael Pettis This post first appeared at China Financial Markets on the Carnegie Endowment for International Peace There are conditions under which governments can create money—or debt—without fear of inflation or excessive debt burdens. There are other conditions under which debt or money creation can lead to inflation and balance sheet problems.