by Summary:
Economies are human constructs, not inevitable natural phenomena. Humans make up the rules that participants must follow when playing the game, and as the economy grows and evolves, humans must change the rules of play in ways that optimize the well-being of the majority of participants. In this piece, we argue that the MMT fiscal policy proposition of government spending into the private sector, with inflation being the only limiting factor, is not only needed for a real recovery from the great recession but is inevitable. We have been pounding the table publicly since 2015 and privately since 2009, with the assertion that monetary policy alone was not enough to optimize the economy for the benefit of the majority. We have repeatedly pointed out that lowering interest rates (to
Topics:
Mike Norman considers the following as important: fiscal policy, MMT, Monetary Policy
This could be interesting, too:
Economies are human constructs, not inevitable natural phenomena. Humans make up the rules that participants must follow when playing the game, and as the economy grows and evolves, humans must change the rules of play in ways that optimize the well-being of the majority of participants. In this piece, we argue that the MMT fiscal policy proposition of government spending into the private sector, with inflation being the only limiting factor, is not only needed for a real recovery from the great recession but is inevitable. We have been pounding the table publicly since 2015 and privately since 2009, with the assertion that monetary policy alone was not enough to optimize the economy for the benefit of the majority. We have repeatedly pointed out that lowering interest rates (to
Topics:
Mike Norman considers the following as important: fiscal policy, MMT, Monetary Policy
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
Angry Bear writes Open Thread January 4 2024 overly “restrictive” monetary policy
Hasan Cömert & T. Sabri Öncü writes Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment – III
Economies are human constructs, not inevitable natural phenomena. Humans make up the rules that participants must follow when playing the game, and as the economy grows and evolves, humans must change the rules of play in ways that optimize the well-being of the majority of participants. In this piece, we argue that the MMT fiscal policy proposition of government spending into the private sector, with inflation being the only limiting factor, is not only needed for a real recovery from the great recession but is inevitable.
We have been pounding the table publicly since 2015 and privately since 2009, with the assertion that monetary policy alone was not enough to optimize the economy for the benefit of the majority. We have repeatedly pointed out that lowering interest rates (to encourage credit creation) and buying financial assets (to save the banks), while necessary, were not sufficient to engineer an economic recovery for the masses. Fiscal policy, that delivers money to the base of the economic-pyramid, was missing....Seeking Alpha
It Is Inevitable
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