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.
As John Carney explained in 2012, non-Austrians just don't get "the problems of ignorance and calculation that inform Austrian economics". Nothing changes.
MMTers do not seem to fully appreciate the problems of ignorance and calculation that inform Austrian economics. They seem to recoil at even thinking about them because of the implications for the limits of political action. This also needs to be corrected.
As John Carney explained in 2012, non-Austrians just don't get "the problems of ignorance and calculation that inform Austrian economics". Nothing changes.
ReplyDeleteMMTers do not seem to fully appreciate the problems of ignorance and calculation that inform Austrian economics. They seem to recoil at even thinking about them because of the implications for the limits of political action. This also needs to be corrected.
http://mikenormaneconomics.blogspot.com/2012/03/john-carney-comments-on-jkhs-post-on.html?showComment=1332343882664#c370523094954810558