MMT argues that government printing money isn’t inflationary, and inflation can be controlled with taxes. Argentina had massive inflation while spending and taking on debt, and magically it’s gone down as measures to stop that spending were implemented.
That is some serious progress.
This is terrifying news for the MMT crowd though as it’s pretty good proof their theory is bullshit.
In what way is Argentina inconsistent with MMT?
MMT argues that government printing money isn’t inflationary, and inflation can be controlled with taxes. Argentina had massive inflation while spending and taking on debt, and magically it’s gone down as measures to stop that spending were implemented.
It’s 2.7% a month, which puts the inflation at 32%.
And that’s still the lowest it’s been since 2021.
It is indeed, most of the country is happy with this development