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Tuesday, February 18, 2014
Brian Romanchuk — MMT And Constraints
Brian Romanchuk comments on Tom Palley's recent criticism of MMT and discusses the budget and external constraints.
I encourage you to become a contributor here at MNE. There is a link on the left side where you can ask Mike to become a contributor. It reads something like this:
Got some ideas about economics, policy, science, art or whatever, and you can write? Let us know here, we're looking for contributors!
Click on the link at the word "here", and your request to become a poster at MNE is submitted. I did this a couple of months ago, and I know I frequently cross post to my own blog and here....
Good post, Brian. The more the idiocies of the imaginary budget constraint and the imaginary external constraint are exposed - which Lerner and many others back then very well understood were both imaginary - the better.
Thanks, although I had some pushback on the external constraint part. That section needed to be longer, but the original article made an assertion without any background.
Well said, Brian.
ReplyDeleteI encourage you to become a contributor here at MNE. There is a link on the left side where you can ask Mike to become a contributor. It reads something like this:
Got some ideas about economics, policy, science, art or whatever, and you can write? Let us know here, we're looking for contributors!
Click on the link at the word "here", and your request to become a poster at MNE is submitted. I did this a couple of months ago, and I know I frequently cross post to my own blog and here....
oops -- should read "and I now frequently cross post" ...
ReplyDeleteThanks. I will have to look in to how I could do that. I have been fairly tied up with side projects, but I should have more time for that now.
ReplyDeleteGood post, Brian. The more the idiocies of the imaginary budget constraint and the imaginary external constraint are exposed - which Lerner and many others back then very well understood were both imaginary - the better.
ReplyDeleteThanks, although I had some pushback on the external constraint part. That section needed to be longer, but the original article made an assertion without any background.
ReplyDelete