by Why has modern monetary theory come out of the academy? Because it helps model the current economic predicament and how to get out of it. "Anything we can actually do we can afford. Once done, it is there."John Maynard Keynes (1942) Excellent post by MMT's representative in Germany.It's a bit wonkish (graphs and variables) but it is addressed to a higher level audience than a popular venue and the math is kept simple. Probably not any more wonkish than the posts that Paul Krugman labels as wonkish.I would have started with the sectoral balance graph that most explicators of MMT use. First, it is likely to be familiar, and secondly, it brings the point home strongly. I suggest that this is the graph that should be the basis of the elevator speech on MMT.But posts are limited by space,
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Why has modern monetary theory come out of the academy? Because it helps model the current economic predicament and how to get out of it.Excellent post by MMT's representative in Germany."Anything we can actually do we can afford. Once done, it is there."John Maynard Keynes (1942)
It's a bit wonkish (graphs and variables) but it is addressed to a higher level audience than a popular venue and the math is kept simple. Probably not any more wonkish than the posts that Paul Krugman labels as wonkish.
I would have started with the sectoral balance graph that most explicators of MMT use. First, it is likely to be familiar, and secondly, it brings the point home strongly. I suggest that this is the graph that should be the basis of the elevator speech on MMT.
But posts are limited by space, the authors have to take into consideration the one big ideal they want to get across. Dirk Ehnts does excellent work with the space allotted.
Social Europe
Modern monetary theory: a simple macroeconomic model
Dirk Ehnts | Lecturer at Bard College Berlin