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Tag Archives: MMT

Alan R. Knight — We don’t need a balanced budget amendment

Mentions MMT and Stephanie Kelton. Charleston Gazette-MailAlan R. Knight: We don't need a balanced budget amendment Alan R. Knight. retired editor of New England Farmer newspaper and formerly associate editor of American Agriculturist magazine, where he also wrote “The Uncommon Market,” an award-winning column that explored both the local and global marketplace into which farmers sell their products.

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Dirk Ehnts — Lecture tonight at Hamburg University

MMT in Germany. Tonight at 6PM I will give a lecture with the title Modern Money Theory and European Macroeconomics – an Alternative to the Policy of Austerity?. It takes place at room S27 at Von-Melle-Park 9, Hamburg University. The lecture is part of a series organized by AK Plurale Ökonomik Hamburg and will be held in English. More information is available here. econoblog 101Lecture tonight at Hamburg UniversityDirk Ehnts | Lecturer at Bard College Berlin

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Jason Smith — Money is the aether of macroeconomics

So I've never really understood Modern Monetary Theory (MMT). In some sense, I can understand it as a counter to the damaging "household budget" and "hard money" views of government finances. To me, it still cedes the equally damaging "money is all-important" message of monetarism and so-called Austrian school that manifests even today when a "very serious person" tells you it's really the Fed, not Congress or the President that controls the path of the economy and inflation when neither...

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Stephanie Kelton and Randall Wray — Answers from the MMTers

A few days ago, Jared Bernstein posed some Questions for the MMTers in order to gain a “better understanding [of our] arguments.” We appreciate his interest in our ideas and, especially, his direct appeal for clarification of our views. He raised four big questions, which our Australian counterpart, Bill Mitchell, has already answered in his own three-part series. What follows is a response from two North American MMTers. New Economic PerspectivesAnswers from the MMTers Stephanie Kelton...

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Answers from the MMTers

By Stephanie Kelton and Randall Wray A few days ago, Jared Bernstein posed some Questions for the MMTers in order to gain a “better understanding [of our] arguments.” We appreciate his interest in our ideas and, especially, his direct appeal for clarification of our views.  He raised four big questions, which our Australian counterpart, Bill Mitchell, has already answered in his own three-part series.  What follows is a response from two North American MMTers. Jared: Overheating is...

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Bill Mitchell — An MMT response to Jared Bernstein – Part 3

This is the third and final part of my response to an article posted by American political analyst Jared Berstein (January 7, 2018) – Questions for the MMTers. In this blog I deal with the last question that he poses to Modern Monetary Theory (MMT) economists, which relates to whether currency issuing governments have to raise revenue in order to “pay for public goods” and whether prudent policy requires the cyclically-adjusted fiscal balance to be zero at full employment to ensure “social...

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Bill Mitchell — An MMT response to Jared Bernstein – Part 2

This is the second part of my response to an article posted by American political analyst Jared Berstein (January 7, 2018) – Questions for the MMTers. Part 1 considered the thorny issue of the capacity of fiscal policy to be an effective counter-stabilising force over the economic cycle, in particular to be able to prevent an economy from ‘overheating’ (whatever that is in fact). Jared Berstein prescribes some sort of Monetarist solution where all the counter-stabilising functions are...

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