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Leftists are not “anti-market” — Peter Radford

Summary:
So [in conclusion], let me summarize: leftists are not anti-market.  They recognize that what is called a market by economists is a rigorously simplified idealization.  And that like all idealizations a lot is left out in order to render the idealization coherent.  It’s what’s left out, not what’s left in, that leftists object to.  And that is not trivial. Coase says so too.Methodological individualism versus institutionalism. MMT is institutional and rejects the assumption of methodological individualism that is foundational in much conventional economics. The Radford Free PressLeftists are not “anti-market”Peter Radford

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So [in conclusion], let me summarize: leftists are not anti-market.  They recognize that what is called a market by economists is a rigorously simplified idealization.  And that like all idealizations a lot is left out in order to render the idealization coherent.  It’s what’s left out, not what’s left in, that leftists object to.  And that is not trivial. Coase says so too.

Methodological individualism versus institutionalism. MMT is institutional and rejects the assumption of methodological individualism that is foundational in much conventional economics. 

The Radford Free Press
Leftists are not “anti-market”
Peter Radford

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.

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