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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
Banjo just posted this brilliant piece under a new thread called "MMT isn't helping" in this same forum. It's long but very worthwhile reading. So nice to see the MMT folks finally getting some attention they have long deserved. Here's the link... -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
I think this may be a more accurate rendition of what I posted : ",,,when an economy is operating below full employment the direct economic cost of putting unemployed resources to work is zero!" -
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Modern Monetary Theory Isn’t Helping
This is a brilliant article. Thank you so. so much for giving us the link. -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
productivity drops. -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
The first part is in agreement with MMT, however note that MMT economists point out, and in my opinion they are correct on this point, that when an economy is operating below full employment the direct economic cost of putting unemployed resources to work is zero! This is a point often missed... -
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If Central Banks Are the Only Game in Town, GOD Help US
we can affect the rate of change but we are powerless to prevent change. Sometimes it is better to embrace change and and work on how to deal with it. -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
What I am commenting on has to do with Treasury-Central Bank-Commercial Bank operations and nothing to do with" trickle down" economics, which is something entirely different, and not germane to this forum. -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
When you borrow, credit is created and the money in circulation is expanded. Credit, according to Mitchell, is the determining factor in money supply. It isn't, again according to Mitchell and as commonly thought, expanded by Central Bank Bond buying. which does of course increase reserves. -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
I think this is a correct characterization of thinking among MMT economists, but perhaps a little misleading unless more context is given. When MMT economists refer to slack in the economy they are usually referring to idle or unused resources, which could include an unemployed labor pool... -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
Can you please make one of those basic points for me, and I will do my best to address it as i understand MMT from my studies? At this point I don't know if you are wrong from the viewpoint of MMT. I am not interested in proving anyone wrong. My main purpose for starting this thread is to... -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
Actually that is a common mis-characterization. Please see the quote, in my original post, from Jim Luke in response to one of Krugman's blogs . -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
What are you saying? -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
There is too much to go into to do it properly here. What I would suggest is listening to one or two Youtube lectures as a starting point and then following up with some reading if you are still interested at that point. I'll look on YouTube and see if I can find something I could especially... -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
There are a surprising number of lectures by well-known MMT economists available on YouTube, and that might be a good jumping of place for the curious. -
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Powell Trashed MMT, But Wall Street Sees Room for U.S. to Try It
We really do not have what could be fairly called 100 years of "MMT history." Some ideas familiar to MMT economists go back to Minsky and other post war economists. The field of MMT economics, however, is strictly a modern discipline having, if not it's genesis, at least its detailed exposition... -
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House Democrats' ‘Medicare-for-all’ bill would largely outlaw private insurance
I am concerned that my message above has not sunk in quite as I would have hoped. So please forgive me for repeating it: It would seem too few understand the burden placed on U.S. medical care costs of allowing for-profit companies to siphon off the young and healthy, charge them outrageous... -
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House Democrats' ‘Medicare-for-all’ bill would largely outlaw private insurance
I have read this elsewhere, and jem has harped on this. I think it is probably mostly true. Probably the real truth is that Obama and the Democrats were intent on getting something passed and willing to make big compromises in order to do that, thinking once they got their foot in the door... -
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House Democrats' ‘Medicare-for-all’ bill would largely outlaw private insurance
The other thing they know is that it has to be refrigerated so inconvenient, if not impossible, to order from Canada, England, or Mexico or Ecuador at a tiny fraction of the price. Another Example: Albuterol/Salmeterol inhaler (used by asthmatics) : 90 mcg in U.S.; 100 mcg elsewhere; Prices... -
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Make Me Great Again
Are you talking about the guy Trump says he loves?