Episode 8 in our new Manga series – The Smith Family and their Adventures with Money – is now available. Have a bit of fun with it and circulate it to those who you think will benefit …
The Smith Family are a middle-class family living in a city somewhere in the world. The second-generation parents are university educated and have professional occupations. Their two kids attend the local public school.
The English version is now available and the Japanese version will be available later today.
In Episode 8, the Smith Family accompany Mariko and Hiroshi Fujii on a visit to a significant Buddhist temple in West Kyoto.
Ryan is none too pleased with staring at rocks and thinks they should brighten the famous rock and stone garden up with some petunias, or something.
Talk turns to Ryan’s claim that fiscal deficits financially crowd out private investment spending and Hiroshi takes him through an exercise where spending creates demand for goods and services, which, in turn, creates incomes from which households save a proportion.
Ryan is unsure where it is heading but knows that when more orders come in for his engineering firm then production and incomes rise.
Hiroshi then notes that fiscal deficits – spending above taxation – increases overall spending and therefore increases saving.
Which means that the claim that fiscal deficits siphon of a finite supply of savings (as governments sell bonds to the private market) cannot be true.
Ryan thinks that when the facts contradict the theory though, it must be the facts that are wrong.
The story continues.
And if you think you resemble any of the characters then either continue spreading MMT knowledge or get our textbook and get up to speed, depending on which character you might identify with.
If you have any feedback we will appreciate it, other than ‘this sucks’.
Next episode – Episode 9 – will be available on January 5, 2024.
That is enough for today!
(c) Copyright 2023 William Mitchell. All Rights Reserved.
