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Modern Monetary Theory
(lemmy.world)
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this post was submitted on 30 Nov 2024
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"Printing money" is a metaphor, of course most money now is just virtual numbers.
Which makes it even easier for a government to create and spend it :)
Or a bank. Or a billionaire. Or a hedge fund. Or a stock market maximizing algorithm.
My point is that the amount of money in existence is no longer centralized or anywhere near as relevant as how it's accumulated and ESPECIALLY how both it and tangible resources are distributed.
Gandhi figured out that "there is enough in this world to satisfy every man's need, but not enough for every man's greed" over half a century ago when ACTUAL scarcity was much more widespread and the rich were many times more constricted by laws and regulations than now.
Mentioning "Printing money", even metaphorically, is nothing but a distraction from the things that actually matter and make a difference one way or the other.
Only government has full control over its national currency via central bank and taxes. It's not decentralized, as every commercial bank needs to get a loan from the central bank, and people have to pay taxes in national currency.
As other have mentioned, we operate with Fractional Reserve Lending, so most Money is not created by governments but by banks when the lend money.
Here is an article from the Bank Of England on it in case you think this is bullshit.
Government control over money creation is, nowadays, mostly indirect via reserve criteria which is a lot softer that the direct control over money printing in the old days.
Your idea of how money is created is at least 30 years out of date.
You can't be serious 🤦