Monday, May 4, 2015
Matias Vernengo — Keynes on Socialism
Keeper quote. Another good quote in the first comment. Important for understanding the MMT project of resolving the trifecta of growth, employment and price level through functional finance, the sectoral balance approach, and SFC macro modeling rather than a mechanical model like New Keynesians' DSGE and monetary policy.
Naked Keynesianism
Keynes on Socialism
Matias Vernengo | Associate Professor of Economics, Bucknell University
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4 comments:
What do the acronyms mean?
MMT = Modern Monetary Theory aka Modern Money Theory (Wray)
DSGE - Dynamic Stochastic General Equilibrium
SFC = Stock-Flow Consistent (consistent with accounting)
Thanks, Tom. I send newbies here all the time and they peel off the page when they encounter acronyms they don't understand.
Yes, I assumed that.
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