HOW THE ECONOMY REALLY WORKS - MONEY FROM THIN AIR

In this video, I take a look at how the economy really works when one is not stuck in the neoclassical model. So that the viewers can easily understand how a fiat currency economy really works, I create a thought experiment that builds an economy from scratch in a newly created modern country that has just been populated. It is only by doing this that we see the downfalls of the current neoclassical economic model versus the benefits of the Modern Monetary Theory economic model.