Lars P. Syll’s — The origins of MMT

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

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