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Tag Archives: MMT

Bill Mitchell – [Annotated] Interview with Asahi Shimbun in Tokyo – November 6, 2019

During my recent trip to Japan, where I made several presentations to various groups, including a large gathering in the Japanese Diet (Parliament), I received a lot of press interest, which is a good sign. I am slowly putting together the translated versions of some of the print media articles. Today, I provide a translation (with my annotations) of an interview I did with the centre-left newspaper – Asahi Shimbun – on November 6, 2019 in Tokyo. This is a daily newspaper and is one of the...

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Modern Monetary Theory: A Tool for the Global South? — Fadil Aliriza interviews Dr. Fadhel Kaboub,

The first part of the post is about Tunisia, and the second is specifically about MMT. MMT economist Fadhel Kaboub is originally from Tunisia and is familiar with the situation there. Rosa Luxemburg StiftungModern Monetary Theory: A Tool for the Global South?Fadil Aliriza, co-founder and editor-in-chief of the Tunisian news portal Meshkal, in conversation with Dr. Fadhel Kaboub, associate professor of economics at Denison University and president of The Global Institute for Sustainable...

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Peter Cooper — Macro Dynamics with a Job Guarantee – Part 5: Price Level

So far, in considering a simplified economy with a job guarantee, the focus has been on the demand-determined behavior of output and employment. Prices, in this exercise, have simply been taken as given on the grounds that they are not causally significant in the process. This approach does not require prices to remain constant, though, for given supply conditions, they may well do so over a fairly wide range of output for reasons to be discussed. Nor does it require that prices are...

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Congress Gets a Lesson in MMT Even as Deficit Nears $1 Trillion — Katia Dmitrieva

Less noncommittal about MMT. “Federal deficits and debt are not so scary. Neither is on an unsustainable path," was the opening salvo from Randall Wray, a professor at Bard College and one of the leading advocates of Modern Monetary Theory. The emerging school of thought says countries like the U.S., which borrow in their own currency, can pursue growth through deficit-spending so long as prices are under control. Wray’s paper for the committee argued that MMT has never said deficits or...

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Cowen — Markets May Welcome Capitalism-Friendly Buttigieg Presidency Bloomberg

Buttigieg is probably likely to pick a Federal Reserve chairman who’s similar to Janet Yellen, Seiberg added, as he may understand the “importance of an independent central bank that can put the long-term interests of economy ahead of short-term political gains.” Buttigieg is unlikely to choose a central banker who endorses modern monetary theory, Seiberg said.... NewsMax FinanceCowen: Markets May Welcome Capitalism-Friendly Buttigieg Presidency Bloomberg

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The Problems with Modern Monetary Theory — Steve Womack

In May of this year, House Budget Committee Republicans sent a letter to Chairman John Yarmuth (D-KY) requesting a hearing on MMT. Tomorrow, the House Budget Committee is holding a hearing titled “Reexamining the Costs of Debt,” and MMT is expected to be a central theme. The Hon. Mr. Womack neglects to say that Dick Cheney told us that President Reagan (who has been sainted by the GOP) showed that deficits don't matter. ? Maybe he should rethink his position. House Budget CommitteeThe...

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