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Alan Austin — Modern monetary theory and the real game

Summary:
Good presentation about why getting progressives to admit that MMT is correct won't change them. It's about politics. Short read.In my view, the way to proceed is by calling attention to economic rent — financial rent, land rent, natural resources rent, and monopoly-monopsony rent — along with socializing negative externality instead of imposing true cost.A comprehensive analysis also necessitates going beyond economics and finance to include all other areas that are relevant ‚ individual and social, and social, political and economic — as well as how they fit structurally and operate functionally in terms of a whole system — the global economy.MMT is an integral part of the solution. But it is not THE solution.Independent AustraliaModern monetary theory and the real game Alan Austin

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Good presentation about why getting progressives to admit that MMT is correct won't change them. It's about politics. Short read.

In my view, the way to proceed is by calling attention to economic rent — financial rent, land rent, natural resources rent, and monopoly-monopsony rent — along with socializing negative externality instead of imposing true cost.

A comprehensive analysis also necessitates going beyond economics and finance to include all other areas that are relevant ‚ individual and social, and social, political and economic — as well as how they fit structurally and operate functionally in terms of a whole system — the global economy.

MMT is an integral part of the solution. But it is not THE solution.

Independent Australia
Modern monetary theory and the real game

Alan Austin
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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