by Summary:
Perhaps the two greatest current macroeconomic problems are a failure to optimally use resources (including people) the design and/or manipulation of the financial system to divert real resources from producers to a financial class The logical approaches to these problems are functional finance in the first case and changes in and/or enforcement of regulation of the financial system in the second case. Two groups that have gained visibility (academic, policy, and/or popular) on these issues are Modern Monetary Theory and Positive Money. MMT scholars largely focused on the first problem, how functional finance can increase the public’s well being. Positive Money’s main worry has been the second and suggestions for changes that might make resource diversion more difficult. However,
Topics:
Mike Norman considers the following as important: MMT, positive money
This could be interesting, too:
Perhaps the two greatest current macroeconomic problems are a failure to optimally use resources (including people) the design and/or manipulation of the financial system to divert real resources from producers to a financial class The logical approaches to these problems are functional finance in the first case and changes in and/or enforcement of regulation of the financial system in the second case. Two groups that have gained visibility (academic, policy, and/or popular) on these issues are Modern Monetary Theory and Positive Money. MMT scholars largely focused on the first problem, how functional finance can increase the public’s well being. Positive Money’s main worry has been the second and suggestions for changes that might make resource diversion more difficult. However,
Topics:
Mike Norman considers the following as important: MMT, positive money
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
Perhaps the two greatest current macroeconomic problems are
The logical approaches to these problems are functional finance in the first case and changes in and/or enforcement of regulation of the financial system in the second case.
- a failure to optimally use resources (including people)
- the design and/or manipulation of the financial system to divert real resources from producers to a financial class
Two groups that have gained visibility (academic, policy, and/or popular) on these issues are Modern Monetary Theory and Positive Money.
MMT scholars largely focused on the first problem, how functional finance can increase the public’s well being. Positive Money’s main worry has been the second and suggestions for changes that might make resource diversion more difficult.
However, the simple point I want to make is this: in recent years the two groups have moved towards each other’s positions and interests to a significant extent, probably much more than either group or the heterodox community recognizes....Clint Ballinger
MMT & Positive Money Are Converging. That’s a Good Thing
Clint Ballinger