I've got a good amount of time for LK's blog. It is my 'goto' blog for good sense on many a topic. But I have to say I'm somewhat disappointed at the latest missive on foreign trade. It still has the usual straw men in it. I really don't understand why PK people can't get their head around the dynamics of floating rate exchange systems and still stick to fixed exchange analysis based around apparent Kaldorian views.
Bill has already debunked the Kaldorian points in his post of a few weeks ago.
I'll take the points in LKs post one at a time.3spoken
The Limits of understanding of MMT