Sunday, July 5, 2020

White Paper: Modern Monetary Theory (MMT) — Warren Mosler

The purpose of this white paper is to publicly present the fundamentals of MMT.
The Gower Institute
White Paper: Modern Monetary Theory (MMT)
Warren Mosler

9 comments:

Ralph Musgrave said...

I don’t agree that excess govt spending cannot raise interest rates and crowd out private borrowing and investment. If govt and central bank create and spend too much into the economy, the result is excess private sector paper assets, which results in too much demand, which in turn has to be reined in somehow. One way is via raised interest rates and another is raised taxes.

Far as I can see Stephanie Kelton omitted the latter point from her otherwise excellent recent book.

Matt Franko said...

“ INFLATION: The price level is necessarily a function of prices paid by the government’s agents when it spends, or collateral demanded when it lends.”

All you morons here could read this 1,000 times and STILL not get it....

Matt Franko said...

How could oil go to NEGATIVE $35 if this was not true you morons?

Matt Franko said...

“a function of”

Did they ever use this word “function” in you moron’s finger painting classes?

This may be the problem..,,,

Matt Franko said...

“all line widths are necessarily a function of how hard you press your finger that has the paint on it”

Help?

S400 said...

Tough being Matt. Now it’s finger painting envy.

Matt Franko said...

Do you get it S?

The analogy?

If you press the finger harder the line gets wider?

S400 said...

You shouldn’t use analogies. Your not trained in it.

Peter Pan said...

Line becomes a groove. You dig?