Summary:
More keeper quotes. The idea behind MMT is as old as the hills. But previously, it was only a possible scenario, whereas MMT describes the existing monetary system since 1971 — the "pure creditary system" that Knut Wicksell had envisioned as a thought experiment. Keynes said it would be useful to educated people in this in order to remove the shibboleths of the past that prevent proper fiscal response now. How prescient he was. Received knowledge is sticky even when it is shown to be wrong.Lars P. Syll’s BlogThe origins of MMTLars P. Syll | Professor, Malmo University
Topics:
Mike Norman considers the following as important: History of Economics, john maynard keynes, Knut Wicksell, MMT
This could be interesting, too:
More keeper quotes. The idea behind MMT is as old as the hills. But previously, it was only a possible scenario, whereas MMT describes the existing monetary system since 1971 — the "pure creditary system" that Knut Wicksell had envisioned as a thought experiment. Keynes said it would be useful to educated people in this in order to remove the shibboleths of the past that prevent proper fiscal response now. How prescient he was. Received knowledge is sticky even when it is shown to be wrong.Lars P. Syll’s BlogThe origins of MMTLars P. Syll | Professor, Malmo University
Topics:
Mike Norman considers the following as important: History of Economics, john maynard keynes, Knut Wicksell, MMT
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes John Maynard Keynes Doesn’t Seem to Know What He Means by the Word “Spending”
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes What’s the deal with The Smiths
Keynes said it would be useful to educated people in this in order to remove the shibboleths of the past that prevent proper fiscal response now. How prescient he was. Received knowledge is sticky even when it is shown to be wrong.
Lars P. Syll’s Blog
The origins of MMT
Lars P. Syll | Professor, Malmo University