- 04 Nov 2018 09:47
#14959883
I listened to a 2015 podcast by the MMTer, Warren Mosler.
In it he says that exports are a net loss to a nation making them. He points out that when a nation loses a war it may be forced to export stuff (for free) to the winner. He says that the increase in *real* wealth of a nation in time period X equals the total stuff it makes and keeps plus the stuff it buys from abroad and keeps, minus the stuff it makes and sells abroad.
. . I think he is being a little simplistic there because he specified real wealth. 1] The exporting nation is getting paid and this does or should increase its GDP. It is not giving the stuff away for free like the war example. 2] Exports do provide jobs for the workers of the exporting nation.
. . OTOH, he didn't say but I will, that with MMT those jobs can be created in the nation to make stuff that is sold to the people of the nation. They can be created because the Gov. can add dollars to the economy by deficit spending, cutting taxes, or just spending them into the economy like Lincoln did. These added dollars will always let people buy more stuff that others must make, so others get more jobs to make the stuff. Dr. Mosler is saying that this is better for the nation than exporting.
https://underground.net/warren-mosler-i ... gos-radio/
.
In it he says that exports are a net loss to a nation making them. He points out that when a nation loses a war it may be forced to export stuff (for free) to the winner. He says that the increase in *real* wealth of a nation in time period X equals the total stuff it makes and keeps plus the stuff it buys from abroad and keeps, minus the stuff it makes and sells abroad.
. . I think he is being a little simplistic there because he specified real wealth. 1] The exporting nation is getting paid and this does or should increase its GDP. It is not giving the stuff away for free like the war example. 2] Exports do provide jobs for the workers of the exporting nation.
. . OTOH, he didn't say but I will, that with MMT those jobs can be created in the nation to make stuff that is sold to the people of the nation. They can be created because the Gov. can add dollars to the economy by deficit spending, cutting taxes, or just spending them into the economy like Lincoln did. These added dollars will always let people buy more stuff that others must make, so others get more jobs to make the stuff. Dr. Mosler is saying that this is better for the nation than exporting.
https://underground.net/warren-mosler-i ... gos-radio/
.