An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Oh, Tom! In the lower left of the graphic I saw formulas like =sum(b1:b3) and so I thought Merijn had worked something out in a spreadsheet. I like spreadsheets.
I went immediately to the link and read the post twice. But there was no spreadsheet and no link to a spreadsheet and I just got more and more confused. But I think I finally figured out how to read the graphic.
Example: Item B in the lower left, M3-Money, includes the cells labeled B1 and B2 and B3, which is "Private sector" "M-3 money" originating as "Coins" and "Banknotes" and "Deposit money".
Example 2: Lower-left "C: deposit money" equals the sum of all the cells with a "C"-prefix label in them; that is, "Deposit money" held by "Government" and by "Banks", and by the "Private sector" as both "M-3 money" and "Financial capital".
This method of understanding the graphic seems to work okay, except for Lower Left "A: base money" which tries to add cells "ai:a8" when it should probably be adding "a1:a8"... or actually "a1:a9" as in the table the label "A7" appears twice and one of those should be an "A9" I think.
Sound right to you?
Trouble is, it's ass-backwards from every spreadsheet that I've ever used!
1 comment:
Oh, Tom! In the lower left of the graphic I saw formulas like =sum(b1:b3) and so I thought Merijn had worked something out in a spreadsheet. I like spreadsheets.
I went immediately to the link and read the post twice. But there was no spreadsheet and no link to a spreadsheet and I just got more and more confused. But I think I finally figured out how to read the graphic.
Example: Item B in the lower left, M3-Money, includes the cells labeled B1 and B2 and B3, which is "Private sector" "M-3 money" originating as "Coins" and "Banknotes" and "Deposit money".
Example 2: Lower-left "C: deposit money" equals the sum of all the cells with a "C"-prefix label in them; that is, "Deposit money" held by "Government" and by "Banks", and by the "Private sector" as both "M-3 money" and "Financial capital".
This method of understanding the graphic seems to work okay, except for Lower Left "A: base money" which tries to add cells "ai:a8" when it should probably be adding "a1:a8"... or actually "a1:a9" as in the table the label "A7" appears twice and one of those should be an "A9" I think.
Sound right to you?
Trouble is, it's ass-backwards from every spreadsheet that I've ever used!
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