Commentary by Roger Erickson
I'm hereby proposing the Eccles/Mosler Grand Touring AggDemand Tests for Fiat Intelligence.
Test #1: If you removed all dates, names and locations from a spoken version of this text ... could the reader tell whether he's talking to Marriner Eccles 80 years ago, or Warren Mosler today?
Test #2: If the same text is read aloud to a "trained" economist, and their head doesn't explode ... are they candidates to understand fiat currency operations instead of of just orthodox economic ideology?
That's one way to find intelligent economists, one tombstone at a time! :)
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