Money slightly losing value year-on-year is by design. Prior to this, in the gold standard, money gained value if you did nothing but horde it. Because of this, people didn't invest it, and there was economic stagnation any time gold's value rose.
With MMT, the slight loss of value in money means that people are incentivized to invest it or they'll lose 2% each year. The spur in investment and rise of MMT is one of the reasons the USA is the richest country in the world.
"Stagnation" as described by State priests ("economists"). If you always look only at "activity"/GDP and ignore saving and long-term investments everything is stagnation if you want it to be.
Money slightly losing value year-on-year is by design. Prior to this, in the gold standard, money gained value if you did nothing but horde it. Because of this, people didn't invest it, and there was economic stagnation any time gold's value rose.
With MMT, the slight loss of value in money means that people are incentivized to invest it or they'll lose 2% each year. The spur in investment and rise of MMT is one of the reasons the USA is the richest country in the world.
"Stagnation" as described by State priests ("economists"). If you always look only at "activity"/GDP and ignore saving and long-term investments everything is stagnation if you want it to be.