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
The purpose of this white paper is to publicly present the fundamentals of MMT.The Gower Institute
8 comments:
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.
“ 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....
“a function of”
Did they ever use this word “function” in you moron’s finger painting classes?
This may be the problem..,,,
“all line widths are necessarily a function of how hard you press your finger that has the paint on it”
Help?
Tough being Matt. Now it’s finger painting envy.
Do you get it S?
The analogy?
If you press the finger harder the line gets wider?
You shouldn’t use analogies. Your not trained in it.
Line becomes a groove. You dig?
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