Notices tagged with mmt
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Randy Wray: "employing previously unemployed capacity is indeed a free lunch". #MMT https://microblog.mjd.id.au/url/26170
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@smithums Nope. Despite having Stephanie Kelton on his campaign team, and therefore knowing better, #Bernie has (like Jeremy #Corbyn) to date publicly remained a staunch money-grows-on-rich-people fiscal conservative. So full employment isn't possible until we make wealthy people wealthy enough to a) employ the unemployed, or b) be taxed, the (false) prerequisite for the gove…
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"I don’t know much about #MMT, but I am going to write about it anyway." Yes, well, that particular vantage point is where most of the objections are coming from, so I suppose you may as well pile on. https://angrybearblog.com/2019/03/mmt-ii.html
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In 1945, "Nugget" Coombes prepared a White Paper of Full Employment for the #AU gov. (Britain had a similar document): "In the worst period of the depression well over 25 per cent were left in unproductive idleness. By contrast, during the war no financial or other obstacles have been allowed to prevent the need for extra production being satisfied to the limit of our resourc…
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@tregeagle @Smithums 'I was a pilot in the Royal Air Force in the war, and we were discussing on a troop ship coming home once how we would deal with the problems of unemployment. And one lad got up, and he said something I’ve never forgotten. He said, “In the 1930s we had mass unemployment, but we don’t have unemployment when we’re killing Germans.” He said, “If …
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@tregeagle Randy Wray is also excellent if you're partial to a slightly drier delivery from somebody apparently born wearing a tie with a jumper and whose first steps were in the direction of a lectern. https://www.youtube.com/watch?v=E5JTn7GS4oA #MMT
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@tregeagle Of the half a dozen or so first-gen #MMT scholars, the best at public engagement is Stephanie Kelton. Her "Angry Birds Approach to Understanding Deficits in the Modern Economy" lecture is from a while ago, but sublime: https://www.youtube.com/watch?v=aqTeshy4Vw8
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@tregeagle Bloomberg thinks I'm a bot - they say because of the "suspicious activity" of disabling #JavaScript - so I can't say for sure, but I'm guessing they are assuming their readership has some prior knowledge of the workings of government bonds, central banks, and the banking system as a whole. I understand a lot of that stuff now, but only as a consequence of being int…
Matthew Davidson
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