Sunday , December 22 2024
Home / Post-Keynesian / Elsewhere: Popular Writing On Modern Monetary Theory

Elsewhere: Popular Writing On Modern Monetary Theory

Summary:
Some articles: Josh Barro, in New York Magazine. Noah Smith, in Bloomberg. Linette Lopez, in Business Insider. Michael Strain, also in Bloomberg. I do not assert that all points in these articles are well-taken. I think of MMT as descriptive. It combines endogenous money, functional finance, and chartalism. Much of its empirical evidence consists of qualitative descriptions of how financial institutions and central banks operate. One can imagine a policy regime where unemployment and inflation are addressed by changes in the level of taxes and government spending, with monetary policy is a more passive attempt to keep interest rates permanently low. This would contrast with one where central banks are more responsible, through interest rate policy, with addressing unemployment and

Topics:
Robert Vienneau considers the following as important:

This could be interesting, too:

Robert Vienneau writes What Paul Krugman Could Learn From The Post Keynesian Roots Of MMT

Sergio Cesaratto writes Lectures in Monetary Theory and Policy

Robert Vienneau writes David Graeber (1961 – 2020) On Usenet A Long Time Ago

Robert Vienneau writes Elsewhere

Some articles:

I do not assert that all points in these articles are well-taken.

I think of MMT as descriptive. It combines endogenous money, functional finance, and chartalism. Much of its empirical evidence consists of qualitative descriptions of how financial institutions and central banks operate. One can imagine a policy regime where unemployment and inflation are addressed by changes in the level of taxes and government spending, with monetary policy is a more passive attempt to keep interest rates permanently low. This would contrast with one where central banks are more responsible, through interest rate policy, with addressing unemployment and inflation. An analysis of the implications of such treatments need not be normative.

(Some asides: As a contrast, Josh Barro could have brought up his father, Robert's, treatment of Ricardian equivalence, which Ricardo rejected. Doesn't Marx, in chapter 1, volume 1 of Capital have an incorrect theory in which barter precedes money?)

Leave a Reply

Your email address will not be published.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