If a dollar is backed by the full credit and faith of the United States, what does MMT mean for the value of the dollar?
I have no answer, other than "whatever the supply and demand for dollars in a market economy says it is".
i.e. social consenus
https://www.youtube.com/watch?v=1JpZZcD ... eDailyShow
Gold also has supply and demand, and social consensus about it's value.
The major difference is that the social consensus for the value of gold isn't tied to the laws of a single country.
I have no answer, other than "whatever the supply and demand for dollars in a market economy says it is".
i.e. social consenus
https://www.youtube.com/watch?v=1JpZZcD ... eDailyShow
Gold also has supply and demand, and social consensus about it's value.
The major difference is that the social consensus for the value of gold isn't tied to the laws of a single country.
Statistics: Posted by watchnerd — Wed Apr 24, 2024 9:57 pm