Comments by "" (@lonevoice) on "Has The UK Run Out of Money – Is The Government Broke?" video.

There probably is plenty of scope under MMT for the UK to print money for investment. As was said in the video, inflation is a constraint but at present most of the inflation is a supply sided source rather than a demand sided one. Stephanie Kelton's book "The Deficit Myth" is well worth reading. She was a key part of Biden's economic task force that used MMT to create $1.9 trillion for the covid period including investment. The US, UK and Japan can do this as they have their own sovereign currency but other countries like Greece don't. Some countries such as Argentina do but have to borrow in a foreign currency such as USD so are less able to use MMT.
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@jasonaris5316 No. The danger that needs to be controlled with MMT is demand side inflation. In the UK one of the biggest problems is the many years of under investment and the knock on effect of poor productivity. This is an area where MMT could be quite effective as the money created could be used in major capital investment projects. It would increase spending within the economy relating to the projects but it is often protracted with longer term benefits so is unlikely to create an inflationary surge and any increase would be monitored and controlled by the Bank of England through interest rates and the government through other options.
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@jasonaris5316 Despite the $1.9 trillion in the US , their inflation levels have been lower than that in the UK. The latest figures show a rate of 3.1% with only about 0.75% being demand sided.
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