by Summary:
From the Perspective of Conventional Economic Analysis, the Post-Keynesian Approach to Inflation Is Mystifying. If We Focus on the Modern Monetary Theory (MMT) School of Thought in Particular, It Is Very Easy to Either Find Claims That "MMT Has No Theory of Inflation," or Non-MMTers "Explain" the MMT Inflation Theory Is Some Random Trivial Relationship That They Just Made Up. The Key to Understanding Post-Keynesian Approaches Is That It Takes a Completely Different Approach to Understanding Inflation, and Outcomes Are Seen as Very Difficult to Forecast. This Article Is Based on Section 8.1.1 ("the Rejection of the Acceleratoinist Thesis") of Professor Marc Lavoie's Excellent Post-Keynesian Economics: New Foundations (Link to My Review). From the Perspective of a Non-Academic, a
Topics:
Mike Norman considers the following as important: marc lavoie, MMT, Post Keynesian Economics, Post Keynesianism
This could be interesting, too:
From the Perspective of Conventional Economic Analysis, the Post-Keynesian Approach to Inflation Is Mystifying. If We Focus on the Modern Monetary Theory (MMT) School of Thought in Particular, It Is Very Easy to Either Find Claims That "MMT Has No Theory of Inflation," or Non-MMTers "Explain" the MMT Inflation Theory Is Some Random Trivial Relationship That They Just Made Up. The Key to Understanding Post-Keynesian Approaches Is That It Takes a Completely Different Approach to Understanding Inflation, and Outcomes Are Seen as Very Difficult to Forecast. This Article Is Based on Section 8.1.1 ("the Rejection of the Acceleratoinist Thesis") of Professor Marc Lavoie's Excellent Post-Keynesian Economics: New Foundations (Link to My Review). From the Perspective of a Non-Academic, a
Topics:
Mike Norman considers the following as important: marc lavoie, MMT, Post Keynesian Economics, Post Keynesianism
This could be interesting, too:
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
Matias Vernengo writes Modern Money Theory in the Tropics: A Reply to Agustin Mario
From the Perspective of Conventional Economic Analysis, the Post-Keynesian Approach to Inflation Is Mystifying. If We Focus on the Modern Monetary Theory (MMT) School of Thought in Particular, It Is Very Easy to Either Find Claims That "MMT Has No Theory of Inflation," or Non-MMTers "Explain" the MMT Inflation Theory Is Some Random Trivial Relationship That They Just Made Up. The Key to Understanding Post-Keynesian Approaches Is That It Takes a Completely Different Approach to Understanding Inflation, and Outcomes Are Seen as Very Difficult to Forecast.
This Article Is Based on Section 8.1.1 ("the Rejection of the Acceleratoinist Thesis") of Professor Marc Lavoie's Excellent Post-Keynesian Economics: New Foundations (Link to My Review). From the Perspective of a Non-Academic, a Significant Portion of the Book Would Likely Be Found as Arcane, and Could Easily Be Confusing to a Non-Specialist. However, Section 8.1.1 Is Extremely Straightforward, and the Most Difficult Part of My Writing Task Here Is Staying Within "Fair Use" Copyright Limitations When Describing It.
(Since I Raised the Issue of MMT Earlier, I Cannot Say Whether There Are Any Major Disagreements Between MMTers and Lavoie's Description of Post-Keynesian Thinking on Inflation. My Feeling Is That There Is Nothing That a Non-Academic Would Get Too Excited About, Other Than the Importance That MMT Ascribes to the Job Guarantee Wage in Stabilising Inflation. For the Analysis of a Country Without a Job Guarantee -- Currently, All of Them -- This Distinction Has No Practical Import.)…Important Now That MMT and PKE Are Gaining Recognition.
Bond Economics
Primer: Understanding the Post-Keynesian Rejection of Mainstream Inflation Theory
Brian Romanchuk