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.
Jo Michell makes a good point, namely that Stephanie Kelton's Bloomberg article (which is what he is referring to) did not even mention the possibility of resource constraint and consequent inflation, though she did link to a work of hers where resource constrain is mentioned.
Many of the critics of MMT in the last week or two have jumped on MMTers’ apparent lack of concern for resource constraint and consequent inflation. They're wrong to say MMTers aren't concerned, but I don't blame them for jumping to the latter conclusion.
With government-privileged banks, it's not certain that the "experts" are very far wrong.
And guess who'll get blamed? Why the monetary sovereign, of course, since government privileges for the banks are so entrenched that they are hardly noticed and attempts to point them out labeled "gibberish."
5 comments:
Jo Michell makes a good point, namely that Stephanie Kelton's Bloomberg article (which is what he is referring to) did not even mention the possibility of resource constraint and consequent inflation, though she did link to a work of hers where resource constrain is mentioned.
Many of the critics of MMT in the last week or two have jumped on MMTers’ apparent lack of concern for resource constraint and consequent inflation. They're wrong to say MMTers aren't concerned, but I don't blame them for jumping to the latter conclusion.
The experts have spoken. Our choice is clear.
We can have
[1] Neoliberalism with extreme poverty, inequality, and environmental destruction
Or else we can have
[2] Zimbabwe!
With government-privileged banks, it's not certain that the "experts" are very far wrong.
And guess who'll get blamed? Why the monetary sovereign, of course, since government privileges for the banks are so entrenched that they are hardly noticed and attempts to point them out labeled "gibberish."
Inflation is evidence of a resource constraint. It's synonymous.
The poor (90%) are suffering from economic resource constraint.
Post a Comment