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:
Steve Roth writes MMT and the Wealth of Nations, Revisited
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Michael Hudson writes International Trade and MMT with Keen, Hudson
Matias Vernengo writes Modern Money Theory in the Tropics: A Reply to Agustin Mario
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