An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Pages
▼
Pages
▼
Sunday, March 20, 2011
Good video explaining gov't debt myths
Collaboration by Prof John Harvey and Tschaff Reisberg.
Again, regarding option two (where the money will come from for the salaries of government employees) - buying back government debt by the Fed does not introduce new money to the economy, don't you think?
I should also say that the clip was great - easily accessible model of the economy (one employer, some employees and government). No doubt we need more such clips in the future!
This is a good start; just hope the authors will continue to this effort and address the multitude of MMT-related aspects of the macro-economy with such clarity.
Great idea, but the narration sucked. How about a take two. Get some TCU Drama Dept. guy to help out. Sorry to be critical, but a good friend will tell you if you have a hanging booger.
@Chewitup, you're right regarding the narration. I'm dyslexic, and its very hard for me to read out loud smoothly. I had to edit the audio heavily to take out pauses where I'd memorize the sentence before I spoke it, took forever to do. I'll try to find someone with a deep baritone voice that commands respect to do the next video (if I make one).
Also this was my first stab at flash. Next try should be better. :)
You have nothing for which to apologize, Tschäff, you did an excellent job and I remain thankful to you for the hard work you put into making my blog post a living, breathing testament to Post Keynesian economics! When I am in Chicago next year for the ASSA meetings, I'll buy you a beer!
Again, regarding option two (where the money will come from for the salaries of government employees) - buying back government debt by the Fed does not introduce new money to the economy, don't you think?
ReplyDeleteGreat post. I'm sharing this whole series with everyone I know who care about such things.
ReplyDeleteI should also say that the clip was great - easily accessible model of the economy (one employer, some employees and government). No doubt we need more such clips in the future!
ReplyDeleteThis is a good start; just hope the authors will continue to this effort and address the multitude of MMT-related aspects of the macro-economy with such clarity.
ReplyDeleteGreat idea, but the narration sucked. How about a take two. Get some TCU Drama Dept. guy to help out. Sorry to be critical, but a good friend will tell you if you have a hanging booger.
ReplyDeleteI feel very honored you posted this. Thank you Mike Norman.
ReplyDelete@Chewitup, you're right regarding the narration. I'm dyslexic, and its very hard for me to read out loud smoothly. I had to edit the audio heavily to take out pauses where I'd memorize the sentence before I spoke it, took forever to do. I'll try to find someone with a deep baritone voice that commands respect to do the next video (if I make one).
ReplyDeleteAlso this was my first stab at flash. Next try should be better. :)
You have nothing for which to apologize, Tschäff, you did an excellent job and I remain thankful to you for the hard work you put into making my blog post a living, breathing testament to Post Keynesian economics! When I am in Chicago next year for the ASSA meetings, I'll buy you a beer!
ReplyDeleteThanks John.
ReplyDelete