Saturday, June 30, 2012

Randy Wray — Brad Delong: We’re All Minskians Now!


Another great one from Randy.

Read it at Economonitor | Great Leap Forward
Brad Delong: We’re All Minskians Now!
by L. Randall Wray

UPDATE:

See also

Zero Hedge
Guest Post: Whitewashing The Economic Establishment
Submitted by John Aziz of Azizonomics

Mentions Steve Keen and Randy in taking down DeLong and the mainstream. Increasing non-typical stuff is showing up at ZH.

7 comments:

AndyCFC said...

From Brad Delong in the comments

"Yes, the Fed and the Treasury can hit pretty much whatever long-term Treasury rate they wish. What surprises me is that they have hit this rate without a much larger ratio of high-powered money to government debt and without a higher current rate of inflation."

OMG :O

Tom Hickey said...

Apparently still thinks M def= stock of rb.

Anonymous said...

"What surprises me is that they have hit this rate without a much larger ratio of high-powered money to government debt and without a higher current rate of inflation."

These people always seem to be "surprised" or "puzzled".

Ryan Harris said...
This comment has been removed by the author.
Ramanan said...

These guys - Krugman included - will never escape the wrong theory around an exogenous stock of money.

Anonymous said...

Poor lads on bankers payroll.

Pete said...

No mention of economic calculation. No mention of hampered price system.

The only people who are "Miskyians" are those who have an agenda to attack capitalism by referring to non-capitalism history.