by Summary:
"Socialism."While Iain Murray presents an ideologically biased argument agains the GND and MMT, he brings up points that need to be addressed for popular consumption, since it is likely that many people think this way. The GND is not a proposal but an idea for a proposal. A lot of things need to be spelled out that aren't yet. In fact, it is probably not possible to do so at this point, at least comprehensively, since significant pieces are lacking and need to be modeled, developed, discovered, or invented. This is a huge challenge and throwing money at it can't solve it. This impression should be avoided in arguing that affordability in not an issue for currency sovereigns. Reconfiguration of the use of real resources is required, and this also will require institutional change and
Topics:
Mike Norman considers the following as important: GND, MMT, MMT criticism, MMT critics
This could be interesting, too:
"Socialism."While Iain Murray presents an ideologically biased argument agains the GND and MMT, he brings up points that need to be addressed for popular consumption, since it is likely that many people think this way. The GND is not a proposal but an idea for a proposal. A lot of things need to be spelled out that aren't yet. In fact, it is probably not possible to do so at this point, at least comprehensively, since significant pieces are lacking and need to be modeled, developed, discovered, or invented. This is a huge challenge and throwing money at it can't solve it. This impression should be avoided in arguing that affordability in not an issue for currency sovereigns. Reconfiguration of the use of real resources is required, and this also will require institutional change and
Topics:
Mike Norman considers the following as important: GND, MMT, MMT criticism, MMT critics
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
"Socialism."
While Iain Murray presents an ideologically biased argument agains the GND and MMT, he brings up points that need to be addressed for popular consumption, since it is likely that many people think this way.
The GND is not a proposal but an idea for a proposal. A lot of things need to be spelled out that aren't yet. In fact, it is probably not possible to do so at this point, at least comprehensively, since significant pieces are lacking and need to be modeled, developed, discovered, or invented.
This is a huge challenge and throwing money at it can't solve it. This impression should be avoided in arguing that affordability in not an issue for currency sovereigns. Reconfiguration of the use of real resources is required, and this also will require institutional change and a shift in cultures globally.