Warren Mosler Reply:
June 25th, 2012 at 9:23 am
I was the first to show how an employed buffer stock policy was a viable option back in ‘soft currency economics’, and that in the context of our political goals- full employment and price stability- it was my opinion that it was obviously a far superior option vs the current policy of using unemployment as a labor buffer stock, and that the only reason it wasn’t our policy was the usual deficit myths. I still hold that position and I think most who understand MMT do as well.
But to your question, I’d say it’s a fundamental understanding. The term ‘essential component’ itself seems to miss the point of MMT?
This is not about promoting a political ideology. It is about analyzing what’s happening and the ramifications of various policy options.
I don’t tie MMT to a political ideology.
I personally don’t have any use for either political party at this point in time.
Nor do I feel good about any of their candidates.
They are all out of paradigm and as such are part of the problem, rather than part of the answer.
That said, it makes perfect sense for people who understand MMT and have political agenda to formulate policy that’s in paradigm and support it as such.
Monday, June 25, 2012
Warren Molser on politics and the JG
From a comment at The Center of the Universe: