Six years into Greece's economic crisis and following successive "bailouts," there still seems to be no light at the end of the tunnel. Greece's economy continues to shrink and unemployment remains at record high levels while the Syriza-led government coalition has reneged on its promises of radical change and ending austerity. The troika, in turn, continues to insist that strict austerity measures, including budget cuts and mass privatizations, be enforced in Greece.
In this interview, economist Warren Mosler, a leading figure in the field of modern monetary theory and the cofounder of the Center for Full Employment and Price Stability at the University of Missouri-Kansas City, discusses money, debt and the role of the European Union's deficit limits in perpetuating the crisis, and shares the proposals he believes could help lead Greece out of its crisis.Truthout
Economist Warren Mosler: If the EU Doesn't Loosen Its Deficit Limits, Greece Should Leave the Euro
Michael Nevradakis Interviews Warren Mosler
4 comments:
What if the portfolio managers sell the Drachma because they don't trust the Greek policy and the currency collapses vs EUR?
Iow if we are to believe the EUR/USD sold off due to expectations of portfolio managers then why wouldn't that be the same way with the new drachma?
Iow it can't be both ways
"What if the portfolio managers sell the Drachma because they don't trust the Greek policy..."
Now, this sounds like a shoo-in for Reality TV on the national level:
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Excellent article by Warren Mosler which was very easy to follow. Randall Wray's article on debt free money wasn't, but that's not a criticism, I'm learning this MMT stuff slowly.
What I like about MMT is that knocks out the small government conservative and libertarian argument. Although Randall Wray says how MMT can be neutral and Conservatives governments can apply it in ways that suits them.
And I also like Warren Mosler's politics, and his view on how a society could be. I find him interesting. The World painted by Warren Mosler would be a much easier World to live in.
Nive, you read the LONG primer
http://neweconomicperspectives.org/modern-monetary-theory-primer.html
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