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.
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Thursday, December 29, 2011
John Carney (CNBC Sr. Editor) just gave a shout out to MMT and how we "got everything right!"
Everybody, email Carney and give him thanks. He's really been doing a lot to get us noticed.
By the way, John reads this blog. He deserves our support!!
And I hope you didn't find my comments too negative over at Warren Mosler's blog the other day. I made a New Year's resolution to be kinder to people this year - which means I only have a couple of days left to be an a-hole :)
Unemployment has become a lot like the weather. Everyone talks about it but no one really does anything about it.
One group of heterodox economists would like to change that. The Modern Monetary Theory school of economists would like to see the government act as an employment backstop. When people cannot find employment elsewhere, they would be able to turn to the government for a job.
But he basically thinks that it cannot work.
I think he is wrong for many reasons. But I would like to hear what other people have to say on this.
John Carney.
ReplyDeleteWith an H.
And thanks for the plug!
Woo hoo! Thanks, John.
ReplyDeleteFixed.
ReplyDeleteThanks John!
ReplyDeleteResp, Matt
Many thanks, John! It means a lot!
ReplyDeleteThe support is much appreciated John.
ReplyDeleteAnd I hope you didn't find my comments too negative over at Warren Mosler's blog the other day. I made a New Year's resolution to be kinder to people this year - which means I only have a couple of days left to be an a-hole :)
Dan:
ReplyDeleteLOL!!!
This comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteAlso,
ReplyDeleteJohn Carney on the JG - Can the Government Guarantee Everyone a Job?
Quote:
Unemployment has become a lot like the weather. Everyone talks about it but no one really does anything about it.
One group of heterodox economists would like to change that. The Modern Monetary Theory school of economists would like to see the government act as an employment backstop. When people cannot find employment elsewhere, they would be able to turn to the government for a job.
But he basically thinks that it cannot work.
I think he is wrong for many reasons. But I would like to hear what other people have to say on this.
"I would like to hear what other people have to say on this."
ReplyDeleteOK, now who gets to be the "a--hole" first? ;)
Resp,
I posted this to the front page and included a comment I left over there.
ReplyDelete"Can the government guarantee a job"
ReplyDeleteWhy wont MMT's idea work? Wouldn't Congress have to go along? Or are you counting on Obama to use an executive order?
Operationally?
When I was a kid, the government simply drafted thousands healthy males and sent them to the jungle.
Worked wonders for the employment everywhere it was tried. Even in Viet Nam every American had a full time job.
Of course, as some MMT'ers advocate, not a snow ball's chance in any foreseeable future !