Tuesday , November 24 2020
Home / Mike Norman Economics / Modern, Pre-Modern, Or Post-Modern Money? A Brief Guide For The Perplexed — Robert Hockett

Modern, Pre-Modern, Or Post-Modern Money? A Brief Guide For The Perplexed — Robert Hockett

Summary:
History of economics. So where does this leave us? Milton Friedman and Richard Nixon are both said to have claimed that ‘we’re all Keynesians now.’ That sure beat Classicism, as that term was used in the ‘70s. But we can do better – in a way that recovers what’s true, but not false, in both ‘Austrian’ and ‘Post-Keynesian’ economics. What’s true in them all is endogeneity – money’s endogeneity. And this in turn means that, insofar as we’re right and not merely cranks, we’re all Wicksellians now.ForbesModern, Pre-Modern, Or Post-Modern Money? A Brief Guide For The PerplexedRobert Hockett | Edward Cornell Professor of Law and a Professor of Public Policy, Senior Counsel at Westwood Capital, and a Fellow of The Century Foundation.

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

[email protected] writes Janet Yellen Will Be Treasury Secretary

Mike Norman writes Alibaba’s CEO said China’s new tech regulations are ‘timely and necessary’ as the nation aims to keep internet firms from growing into powerful monopolies — Katie Canales

WARREN MOSLER writes Euro zone services, gasoline demand, restaurants, hotels

Mike Norman writes Zero Hedge White House Planning Unprecedented Trade Alliance To Retaliate Against China

History of economics. 

So where does this leave us? Milton Friedman and Richard Nixon are both said to have claimed that ‘we’re all Keynesians now.’ That sure beat Classicism, as that term was used in the ‘70s. But we can do better – in a way that recovers what’s true, but not false, in both ‘Austrian’ and ‘Post-Keynesian’ economics. What’s true in them all is endogeneity – money’s endogeneity. And this in turn means that, insofar as we’re right and not merely cranks, we’re all Wicksellians now.
Forbes
Modern, Pre-Modern, Or Post-Modern Money? A Brief Guide For The Perplexed
Robert Hockett | Edward Cornell Professor of Law and a Professor of Public Policy, Senior Counsel at Westwood Capital, and a Fellow of The Century Foundation.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *