They always forget the other half of the equation.

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Stephanie Kelton's response to Paul Krugman's criticism of Abba Lerner's functional finance.Lars P. Syll’s BlogMMT — Krugman still does not get it!Lars P. Syll | Professor, Malmo University

There is now only one significant manufacturing datapoint that is not flat or down – but it’s the one the NBER relies upon  – by New Deal democrat I am increasingly of the opinion that at the moment, the only two economic data series that are important are nonfarm payrolls and the personal consumption expenditure deflator. That’s because almost every other important metric of the economy is either flat or declining. But payrolls keep chugging...

This is a story or at least I tried to make it into more like one. The longer version can be found at the Propublica link. I took parts of it linking them together using mostly their wording and blending it with mine. Money and Corporate influence still wins . . . The U.S. Never Banned Asbestos. These Workers Are Paying the Price, ProPublica, Kathleen McGrory and Neil Bedi A few miles up from Niagara Falls was the OxyChem’ facility. The plant’s...

MMT — Krugman still does not get it! Krugman complains that Lerner was too “cavalier” in his discussion of monetary policy since he called for the interest rate to be set at the level that produces “the most desirable level of investment” without saying exactly what that rate should be. It’s an odd critique, since Krugman himself subscribes to the idea that monetary policy should target an invisible “neutral rate,” a so-called r-star that exists when the...

Skicka Zlatanstatyn till Qatar! Även i form av en staty ställer fotbollspelaren Zlatan Ibrahimovic till problem för sin omgivning. Efter Zlatans senaste kärleksförklaring till diktaturen Qatar vågar nu inte ens Malmös ledande politiker ta i frågan om den nu tydligen reparerade statyn ska placeras på synbar plats eller inte. De avböjer till och med att kommentera det problem som uppstått sedan Zlatan ställt sig i spetsen som Qatar-regimens kanske allra...

The latest Productivity Commission report marks the end of an era That’s the headline for my latest piece in Inside Story I look at the rise and decline of the Productivity Commission as an advocate of radical neoliberal reform. It spans the fifty years from the creation of the Industries Assistance Commission, replacing the old Tariff Board to the present, a period that spans my entire adult life. think I have outlived neoliberalism, at least as an intellectually credible...

Gotta love those crazy monetarists. They're nothing but a source of laughs. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://www.pitbulleconomics.com Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes