Wednesday, February 10, 2016

David Glasner — There Is No Intertemporal Budget Constraint


Somewhat wonkish, but if you have been following the debate that Nick Rowe started, you may find it interesting.

Uneasy Money
David Glasner | Economist at the Federal Trade Commission

2 comments:

Ralph Musgrave said...

“There is no intertemporal budget constraint”. Translated: assuming inflation is subdued, the state can simply print money and spend it with a view to reducing unemployment – a point which most MMTers with no formal qualifications in economics worked out some time ago.

Glasner’s article and subsequent comments look to me like a collection of academic windbags using technical language to hide the fact that they don’t know any more about economics than MMTers with no formal qualifications.

Tom Brown said...

"Glasner’s article and subsequent comments look to me like a collection of academic windbags"

I'd be one of those commenters (the one who pointed David to the conversation between Jason and Avon in the 1st place), but I can assure you I'm not "academic windbag." :D

Here's a follow up post Jason did on it.