by Here’s a comment I wrote and posted several years ago. I’d like to add that I also see the Transition Job policy, along with a 0 rate policy, as what I call the ‘base case for analysis’ of a state currency: “With ‘state currency’There necessarily is,Always has been,Always will be,A buffer stock policy.Call that the MMT insight if you wish. So it comes down to ‘pick one’-1. Gold2. Foreign Exchange3. Unemployment4. Employed/JG/ELR5. WheatWhatever!I pick employed/JG/ELRAs it works best as a buffer stock based on any/all criteria for a buffer stock.”
Topics:
WARREN MOSLER considers the following as important: MMT
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
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
Here’s a comment I wrote and posted several years ago. I’d like to add that I also see the Transition Job policy, along with a 0 rate policy, as what I call the ‘base case for analysis’ of a state currency:
“With ‘state currency’
There necessarily is,
Always has been,
Always will be,
A buffer stock policy.
Call that the MMT insight if you wish.So it comes down to ‘pick one’-
1. Gold
2. Foreign Exchange
3. Unemployment
4. Employed/JG/ELR
5. Wheat
Whatever!
I pick employed/JG/ELR
As it works best as a buffer stock based on any/all criteria for a buffer stock.”