Talk:Hyperinflation in early Soviet Russia

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Economist Michael Hudson has said, "Every hyperinflation in history has come as a result of the collapse of the balance of payments." http://michael-hudson.com/2012/08/fireside-on-the-great-theft/ It would seem that Hudson's statement is disproved by early Soviet hyperinflation. But Hudson is associated with the Modern Monetary Theory (MMT) school of thought, which has this to say: "MMT says that taxes and other involuntary obligations create a demand for the currency—so long as that currency is needed to pay taxes." (http://neweconomicperspectives.org/2014/05/need-taxes-mmt-perspective.html) The abolition of taxes in the early Soviet era seems to violate that rule; leading to hyperinflation. — Preceding unsigned comment added by 68.168.162.7 (talk) 01:06, 15 May 2017 (UTC)[reply]