John Maynard Keynes: How Much Does Finance Matter? Brad DeLong

Summary:
Keeper Keynes quote anticipating the fundamental assumption of MMT that the only actual constraint is real resources, which is the foundation of Stephanie Kelton's new book, The Deficit Myth (available June 9). Professor DeLong does not state this explicitly, but we can probably assume that this post is not a coincidence and it is as close as he wants to get. Anyway, Keynes make the point that so-called affordability is a non-issue.  Austerity in the name of fiscal responsibility is a monumental error the cost of which through needlessly foregoing inherent potential is incalculable.Grasping RealityJohn Maynard Keynes: How Much Does Finance Matter?Brad DeLong | Professor of Economics, UCAL Berkeley

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