Heterodox
We live in a dangerous time when the FT promotes a form of hardline, and deeply undemocratic monetarism. It's dangerous that some on the left have bought into Positive Money's ideas. The battle for money has begun. It is essential that it is won. Tax Research UKThe battle for money has begun Richard Murphy
Read More »Clint Ballinger — OMFG, MMT & Positive Money Get Along
The crucial fact about the vertical side is that the fact that a nation is not like a household is evident regardless of the operational details. Positive Money is wrong in their belief the current system must be changed to achieve the type of government spending they want.However, this does not mean that Positive Money is flat out wrong. Key MMT people would be perfectly happy to spend vertically in the way Positive Money wants, which is just PQE/OMF by another name. This is especially so...
Read More »Clint Ballinger — MMT & Positive Money Are Converging. That’s a Good Thing
Perhaps the two greatest current macroeconomic problems are a failure to optimally use resources (including people) the design and/or manipulation of the financial system to divert real resources from producers to a financial class The logical approaches to these problems are functional finance in the first case and changes in and/or enforcement of regulation of the financial system in the second case. Two groups that have gained visibility (academic, policy, and/or popular) on these...
Read More »L. Randall Wray on MMT and Positive Money
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