Tuesday, October 11, 2016

Bill Mitchell — Reforming the international institutional framework – Part 4

This is the fourth and final part of the discussion relating to reforming the international institutional framework. In brief, the argument is that there are several essential functions that a multilateral institutional framework has to serve that need to be incorporated within any new structure. It is clear that an agency to channel development aid remains essential. Further, it is important to create an agency that will provide liquidity to nations who are unable to access essential imported resources (such as food) without invoking exchange rate crises. While these functions seem to align with the current World Bank and the IMF, a progressive approach to service delivery in these areas would not resemble the operational procedures currently in place.
Bill Mitchell – billy blog
Reforming the international institutional framework – Part 4
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia


Ramanan said...

" Macroeconomic stabilisation – support for national currencies in the face of problematic balance of payments."

Wait, what? MMT says balance of payments crises cannot occur.

Matt Franko said...

I knew you would be all over that!!!!