Oct 30, 2024
I've read it. You evidently didn't fully understand this article or her book.
As Kelton suggests, governments could create sovereign money to spend, but they don't- they borrow at interest because that's what's profitable to their sponsors.
Kelton's on the right track, except she's okay with create-to-spend. This is wrong because it creates inflation (theft of purchasing power.) Create-to-invest-in-creating-new-assets is the only way to do it without robbing purchasing power. And it creates more assets, too.