2021年12月14日火曜日

MMTはかなり受け入れられつつある、と。

 

The government hasn’t embraced MMT. But important elements of it are now accepted by much of the economic and financial establishment, with major implications for how the economy is run.

 The most important claim of MMT is that a government need never default on debt issued in its own currency. The lesson of 2020 was that MMT is right.


Central banks that had struggled for a decade to boost inflation using monetary tools found that fiscal tools were far more powerful. Government spending does far more for inflation than quantitative easing, it turns out, and central-bank calls for more fiscal action to boost the economy are more likely to be accepted next time deflation looms.


Key parts of MMT haven’t been adopted, particularly its call for government to guarantee everyone a job.


In the next downturn it is going to be very difficult for governments to resist calls to provide huge support, now that it has been shown that bond markets don’t care.

MMT is both right and wildly optimistic that higher taxes could slow an overheated economy and bring down inflation. The flip side of last year’s demonstration of the power of fiscal policy is that higher taxes can suck demand out of the economy much more effectively than the Fed’s interest-rate tools.


素人でわからんが、記事をぱっと読む限りかなり受け入れられつつあるんじゃないの? 

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