I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to complete the text by the end of this year. Comments are always welcome. Remember this is a textbook aimed at undergraduate students and so the writing will be different from my usual blog free-for-all. Note also that the text I post is just the work I am doing by way of the first draft so the material posted will not represent the complete text. Further it will change once the two of us have edited it.Bill Mitchell — billy blog
Please read this blog as a continuation of last week’s – Aggregate demand – Part 4 (redux) – which sought to consolidate the edits to date on this Chapter’s material.
Aggregate demand – Part 5 (redux)
Bill Mitchell
The states are making sure demand stays lower via the reverse progressive tax policy.
ReplyDeletehttp://thinkprogress.org/economy/2012/09/21/887581/state-taxes-1-percent-low/
Also, Joe Stiglitz just retweeted wonkmonk's plea to "Learn the basics of Modern Monetary Theory" which itself was a link to Randy Wray's book
ReplyDelete@ Clonal
ReplyDeleteNOw that is really big news.
Lots of equilibrium talk - very conventional. Odd.
ReplyDeleteThat retweet got deleted!
ReplyDeleteWonder what's up with that.
ReplyDeleteThere is a core group of elite progressive economists that simply will not fully embrace MMT.
ReplyDeleteThe Joe Stiglitz twitter account is run by Jan Zemanek aka wonkmonk. I do not know what the link between the two individual's is, or if there is even a link. So that may have been a slip on Zemanek's part.
ReplyDeleteAlso,
ReplyDeleteEllen Brown on QE3 quotes Scott Fullwiler extensively - Why QE3 Won’t Jumpstart the Economy—and What Would