Sunday, April 17, 2016

Alexander Douglas — Mosler on “Where Does Money Come From?”

I was recently at a dinner event with Warren Mosler, organised generously by Ralph Musgrave of the Ralphanomics blog.
The event included both MMTers and Sovereign Money proponents. It was a great event, and I think everyone got a lot out of it, even the Sovereign Money people.…
One of the pleasures of the evening (for me at least) was hearing Warren making a careful, line-by-line criticism of the book Where Does Money Come From?, published by the New Economics foundation. I’ve heard little but praise for that book, which I believe to contain a number of misleading statements. So it was reassuring to hear Warren taking issue with it.
Ralph asked Warren if he could write his criticisms up into a review of the book. Warren replied by asking why people were always trying to give him more work, which is fair enough! But I take Ralph’s point; it would be nice to have a written version of the criticisms to refer to. Thus I’m going to try to present, in my own words, the gist of a few of the comments I remember Warren making on the first two chapters of the book.…
Origin of Specious
Mosler on “Where Does Money Come From?”
Alexander Douglas | Lecturer in Philosophy at Heythrop College, London

7 comments:

Michael Norman said...

Warren Mosler's been forecasting a recession for three years and Ralph Musgrave invites him to a dinner where he's billed as the "star attraction." Who's next" Schiff? Something's wrong with the "theory."

Ralph Musgrave said...

I wouldn't dare organize an event where Schiff was the star attraction for fear of getting a kick in the whatsits from Mike Norman..:-)

Matt Franko said...

Well Levy invited James Grant to their conference.... might as well have invited Schiff... Grant has a position at the Mises Institute...

This would be like Tim Cook inviting the Microsoft and Samsung people to keynote their products at MacWorld....

Now Bill wants to blame "Time Magazine" for writing it... Well "Time Magazine" didnt write it, James Grant did... who the Levy people are big fans of...

Matt Franko said...

Here hand in glove:

http://csinvesting.org/2012/08/18/lecture-series-with-james-grant-peter-schiff-and-others-on-money-and-the-fed/

Levy people invite Mises Institute James Grant to present at their conference.... might as well invite Schiff...

Simsalablunder said...

"Now Bill wants to blame "Time Magazine""

So Time Magazine is not responsible for what it publish? It's probably Bills fault…

Simsalablunder said...

"James Grant did... who the Levy people are big fans of..."

Well, you do at least some progress when you don't say it's the MMT-top enders who are the big fans…

Matt Franko said...

I find it hard to fathom how Bill did not include the author's name in his blog... he includes the author credit all the other times when he takes down one of these idiots...

CRTL-F "grant" there it doenst come up...

Hmmmmmmm.... Maybe Bill doesnt want to give Grant any more notoriety than he has already been given?

And I'll tell you what this sentence here from Bill:

"I recommend those responsible for the magazine and the publication of this particular article be prosecuted under US Code §52 and be subjected to both the maximum fine and imprisonment allowed for under that code.

If there are stronger violations of US law then they should also be applied."

I could not agree more with ...