dtwest
Joined 10 years ago
Joined 10 years ago
If inflation is accelerating and we need to cut spending to fix things it may be difficult or inefficient to cut the budget of a 10 year infrastructure project. If we need to spend more one year, do we just flood the healthcare system or military with money temporarily?
Changing tax policy frequently creates uncertainty for people investing in long term projects, which increases risk and cost associated with funding them.
I like that there is an academic debate going on about MMT, but there are practical challenges in implementing it. While far from perfect, the current monetary policy approach is easier to implement and change, while outsourcing capital allocation decisions to the banking system.
However, it could still have a talent advantage. Having OSU nearby is helpful, and maybe it is easier to attract talent to move to a city with a big university.
I'm not belittling the discussion that our society must have about what can or can't be mandated by an employer. However, I doubt the above quote was created in the context of high paying tech jobs, they were focused on the forced experimentation that occurred in WW2.
I did not mean to imply that everyone is one-dimensional, I personally have professional experience in the finance and software industries and have respect for the people in them. But when some finance expert suddenly becomes an opinionated epidemiologist I call bullshit (a random example that has happened far too often the past few years).