by Summary:
Scott Fullwiler's article "The debt ratio and sustainable macroeconomic policy"* offers a very good introduction to Modern Monetary Theory's (MMT) stance on fiscal policy. It covers a lot of ground, making it hard to summarise. This article has some general remarks on why I recommend reading the paper as an introduction to MMT thinking. The key argument is that interest service is what matters for sustainability (and not the debt-to-GDP ratio) -- and that the rate of interest is under the control of governments. Apparently Stephanie Kelton thinks that this is a good intro to MMT thinking, too. When Larry Summers requested somethings to read to get up to speed on MMT, she recommended Scott's paper.Bond Economics Initial Comments On Fullwiler's Fiscal Sustainability Paper Brian Romanchuk
Topics:
Mike Norman considers the following as important: Fiscal Sustainability, MMT, Scott Fullwiler
This could be interesting, too:
Scott Fullwiler's article "The debt ratio and sustainable macroeconomic policy"* offers a very good introduction to Modern Monetary Theory's (MMT) stance on fiscal policy. It covers a lot of ground, making it hard to summarise. This article has some general remarks on why I recommend reading the paper as an introduction to MMT thinking. The key argument is that interest service is what matters for sustainability (and not the debt-to-GDP ratio) -- and that the rate of interest is under the control of governments. Apparently Stephanie Kelton thinks that this is a good intro to MMT thinking, too. When Larry Summers requested somethings to read to get up to speed on MMT, she recommended Scott's paper.Bond Economics Initial Comments On Fullwiler's Fiscal Sustainability Paper Brian Romanchuk
Topics:
Mike Norman considers the following as important: Fiscal Sustainability, MMT, Scott Fullwiler
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
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Michael Hudson writes International Trade and MMT with Keen, Hudson
Scott Fullwiler's article "The debt ratio and sustainable macroeconomic policy"* offers a very good introduction to Modern Monetary Theory's (MMT) stance on fiscal policy. It covers a lot of ground, making it hard to summarise. This article has some general remarks on why I recommend reading the paper as an introduction to MMT thinking. The key argument is that interest service is what matters for sustainability (and not the debt-to-GDP ratio) -- and that the rate of interest is under the control of governments.Apparently Stephanie Kelton thinks that this is a good intro to MMT thinking, too. When Larry Summers requested somethings to read to get up to speed on MMT, she recommended Scott's paper.
Bond Economics
Brian Romanchuk