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.
Man, this argument is ridiculous. Each new article is even less helpful than the last. Not only can economists not agree on anything, they can't explain anything either.
Man, this argument is ridiculous. Each new article is even less helpful than the last. Not only can economists not agree on anything, they can't explain anything either.
ReplyDeleteI didn't understand TC's comments on the matter either, fwiw.
ReplyDeleteWhat all these arguments are missing of course is the 'I' of last resort - central bank reserves.
ReplyDeleteAnd as usual the problem is that the equation is being read as an time based implication, not an equality at a point in time.
So really I = S (ie I => S).