Truthout crossposted Dale Pierce's "What Is Modern Monetary Theory, or 'MMT'? "from NEP. Good deal. Progressives read Truthout.
Comment over there and set the deficit doves straight.
Truthout
What Is Modern Monetary Theory, or "MMT"?
By Dale Pierce, New Economic Perspectives | News Analysis
Truthout
What Is Modern Monetary Theory, or "MMT"?
By Dale Pierce, New Economic Perspectives | News Analysis
1 comment:
Thanks to "Lord Keynes", we will never have to endure another BS statement from Keynesians and MMTers like this one from Dale Pierce:
Under the gold standard, and largely because of the gold standard, the capitalist world endured eight different deflationary slumps severe enough to be called “depressions.”
LK demonstrates that THE CLASSICAL GOLD STANDARD ERA WAS A MYTH precisely as described for the last 50 years by Murray Rothbard:
http://socialdemocracy21stcentury.blogspot.com/2013/03/the-classical-gold-standard-era-was-myth.html#comment-form
This is excellent. This is like when Daniel Kuehn’s paper on the 1920 depression was consistent with the Rothbardian analysis of WWI:
http://factsandotherstubbornthings.blogspot.com/2013/01/poor-kid-was-just-couple-years-too.html?showComment=1358998365568#c2813953362544372035
I’m bookmarking this and also keeping a copy for reference.
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