by Summary:
Clint Ballinger uses an automotive analogy to show how MMT is not so much a matter of changing policy as much as it is of using the full power of currency sovereign. Then the self-induced limitations on using the full capacity of fiscal space disappear automatically. The mistake is largely due to the erroneous government as firm or household analogy. A sovereign currency issuer is not limited in the amount of currency it can issue, unlike currency users that must obtain the currency. The constraint limiting issuance by a currency sovereign is the availability of real resources including the ability of the economy of the currency zone to meet demand in markets by expanding supply.Clint BallingerMMT & the Fourth Spark Plug: Descriptive vs. Prescriptive revisited
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Mike Norman considers the following as important: MMT
This could be interesting, too:
Clint Ballinger uses an automotive analogy to show how MMT is not so much a matter of changing policy as much as it is of using the full power of currency sovereign. Then the self-induced limitations on using the full capacity of fiscal space disappear automatically. The mistake is largely due to the erroneous government as firm or household analogy. A sovereign currency issuer is not limited in the amount of currency it can issue, unlike currency users that must obtain the currency. The constraint limiting issuance by a currency sovereign is the availability of real resources including the ability of the economy of the currency zone to meet demand in markets by expanding supply.Clint BallingerMMT & the Fourth Spark Plug: Descriptive vs. Prescriptive revisited
Topics:
Mike Norman considers the following as important: MMT
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
The mistake is largely due to the erroneous government as firm or household analogy. A sovereign currency issuer is not limited in the amount of currency it can issue, unlike currency users that must obtain the currency. The constraint limiting issuance by a currency sovereign is the availability of real resources including the ability of the economy of the currency zone to meet demand in markets by expanding supply.
Clint Ballinger
MMT & the Fourth Spark Plug: Descriptive vs. Prescriptive revisited