Lars P. Syll

Don’t mention the war  [embedded content]

Kelton and Krugman — MMT vs IS-LM Is there some reason the straightforward framework Krugman laid out is wrong? Yes, as even its creator went on to acknowledge. MMT rejects the IS-LM framework that Krugman uses to demonstrate the conclusion that widening budget deficits put upward pressure on interest rates and crowd out private investment. The model remains the workhorse for many mainstream Keynesians. MMT considers it fundamentally flawed … Keep this in...

Veckans dumstrut — advokat Thomas Olsson Slutsatsen måste därför bli att de som vill hindra återvändarna från att komma tillbaka till Sverige företräder djupt odemokratiska åsikter som grundar sig på en bristande respekt för människovärdet och de grundläggande principer som bär upp en demokratisk rättsstat. Det utgör givetvis ett demokratiskt problem, särskilt om de uppträder som representanter för demokratin, men odemokratiska åsikter ska alltid bemötas...

Pólya urn models mathematics  [embedded content]

Nights in White Satin  [embedded content] Il primo amore non si scorda mai …

It’s a Man’s Man’s Man’s World  [embedded content]

Krugman vs Kelton on the fiscal-monetary tradeoff Paul Krugman is back again telling us that he doesn’t really want to spend time on arguing about MMT — and then goes on complaining that well-known MMTer Stephanie Kelton says things “obviously indefensible.” What has especially irritated the self-proclaimed ‘conventional’ Keynesian is that Kelton “seems to claim that expansionary fiscal policy … will lead to lower, not higher interest rates.” Now, the logic...

That’s the right spirit!  [embedded content]

What’s wrong with MMT? Nothing! MMTists often like to position themselves as the only ones to properly understand the ‘operational realities’ of modern monetary systems. Ironically, many of the claims made by MMTists on this topic are misleading at best. One common rhetorical tactic that I’ve noticed they employ, which often catches their critics out, is to use the term ‘government’ in a way that’s different typically from how it is used in mainstream...

What makes collective action more likely? [embedded content]