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RE: MODERN MONETARY THEORY - can anyone explain major differences between MMT and current monetary system?
Some economists wish to make the governments all mighty. They think governments have all the solutions of the problems related to economies. These economists are the proponents of Modern Monetary Theory. It is not different from the current monetary system. In fact, these are very similar. There is only a difference of the name.
Dear @akdx
Thank you for always being so responsive
ps.
I seriously wonder how MMT would deal with inflation (losing fiat currency value). After all inflation is nothing but 'hidden tax', that can destroy economy and businesses. Just like tsunami would.
Also Im curious how countries following MMT monetary system would deal financially with those who stick to traditional/current ways. Something would surely have to change.
Yours
Piotr