by Summary:
The question that the mainstream economists should be paraded out in front of the public and forced to answer is how can Japan do this and experience economic growth (albeit moderate) while the rest of the world is contracting due to misconceived monetary and fiscal tightening and is recording inflation rates above the Japanese rate?The New Keynesian mob never directly answer questions like that because they cannot.William Mitchell — Modern Monetary TheoryThe parallel universe in Japan continues and is delivering superior outcomes, while the rest look on cluelessBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
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The question that the mainstream economists should be paraded out in front of the public and forced to answer is how can Japan do this and experience economic growth (albeit moderate) while the rest of the world is contracting due to misconceived monetary and fiscal tightening and is recording inflation rates above the Japanese rate?The New Keynesian mob never directly answer questions like that because they cannot.William Mitchell — Modern Monetary TheoryThe parallel universe in Japan continues and is delivering superior outcomes, while the rest look on cluelessBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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The question that the mainstream economists should be paraded out in front of the public and forced to answer is how can Japan do this and experience economic growth (albeit moderate) while the rest of the world is contracting due to misconceived monetary and fiscal tightening and is recording inflation rates above the Japanese rate?The New Keynesian mob never directly answer questions like that because they cannot.
William Mitchell — Modern Monetary Theory
The parallel universe in Japan continues and is delivering superior outcomes, while the rest look on clueless
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia