circuit reminds me in the comments that in February, 2012, Joseph Laliberte addressed MMT as as a quantity-theoretic theory of the price leve, building upon Scott Fullwiler's position .
Read it at Fictional Reserve Banking
Fiscal policy vs monetary policy to control inflation: MMT perspective
by Joseph Laliberté
1 comment:
MMT advocates that fiscal and monetary should be merged, doesn’t it? I.e. in a recession, MMT says: just create new money and spend it into the economy (and/or cut taxes). That’s a policy I support, as does this work by Prof. R.A.Werner and others:
http://www.positivemoney.org.uk/wp-content/uploads/2010/11/NEF-Southampton-Positive-Money-ICB-Submission.pdf
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