by Summary:
Much of the critique that Palley delivers was also waged against Abba Lerner’s ‘functional finance’ approach — on which much of MMT is based — back in the 1940s and 1950s. Even if some of today’s ‘Keynesian’ economists do not understand Lerner, there once was one who certainly did: I recently read an interesting article on deficit budgeting … His argument is impeccable. John Maynard Keynes (CW XXVII:320) Lars P. Syll’s BlogThomas Palley claims MMT fails to provide plausible macroeconomics Lars P. Syll | Professor, Malmo University
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Mike Norman considers the following as important: MMT
This could be interesting, too:
Much of the critique that Palley delivers was also waged against Abba Lerner’s ‘functional finance’ approach — on which much of MMT is based — back in the 1940s and 1950s. Even if some of today’s ‘Keynesian’ economists do not understand Lerner, there once was one who certainly did: I recently read an interesting article on deficit budgeting … His argument is impeccable. John Maynard Keynes (CW XXVII:320) Lars P. Syll’s BlogThomas Palley claims MMT fails to provide plausible macroeconomics Lars P. Syll | Professor, Malmo University
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
Much of the critique that Palley delivers was also waged against Abba Lerner’s ‘functional finance’ approach — on which much of MMT is based — back in the 1940s and 1950s. Even if some of today’s ‘Keynesian’ economists do not understand Lerner, there once was one who certainly did:
Lars P. Syll’s BlogI recently read an interesting article on deficit budgeting … His argument is impeccable.John Maynard Keynes (CW XXVII:320)
Thomas Palley claims MMT fails to provide plausible macroeconomics
Lars P. Syll | Professor, Malmo University