I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to complete the text during 2013 (to be ready in draft form for second semester teaching). Comments are always welcome. Remember this is a textbook aimed at undergraduate students and so the writing will be different from my usual blog free-for-all. Note also that the text I post is just the work I am doing by way of the first draft so the material posted will not represent the complete text. Further it will change once the two of us have edited it.
Previous Parts to this Chapter:
▪ The IS-LM Framework – Part 1 ▪ The IS-LM Framework – Part 2
Chapter 16 – The IS-LM Framework
Bill Mitchell – billy blog
The IS-LM Framework – Part 3
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), Charles Darwin University, Northern Territory, Australia
2 comments:
Jamie Galbraith interview today in MarketWatch -- The Fed’s in a corner, economist Galbraith says. Q&A: Galbraith says Obama should call for $12/hour minimum wage
MarketWatch: What would be your advice to the Fed on how to go about it?
Galbraith: My advice would be, don’t do anything that is going to cause undo turmoil. If there is no compelling reason to do it, don’t do it. If it hurts, stop. It is the same advice I would give a small child.
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More interesting that IS/LM, no?
Galbraith would be worthy of the term "maestro"...
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