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Tuesday, November 19, 2019

Lars P. Syll’s — The origins of MMT


More keeper quotes. The idea behind MMT is as old as the hills. But previously, it was only a possible scenario, whereas MMT describes the existing monetary system since 1971 — the "pure creditary system" that Knut Wicksell had envisioned as a thought experiment. 

Keynes said it would be useful to educated people in this in order to remove the shibboleths of the past that prevent proper fiscal response now. How prescient he was. Received knowledge is sticky even when it is shown to be wrong.

Lars P. Syll’s Blog
The origins of MMT
Lars P. Syll | Professor, Malmo University
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1 comment:

  1. AXEC / E.K-HNovember 20, 2019 at 3:23 AM

    Links on Lars Syll’s ‘The origins of MMT’

    Als always, Lars Syll gets it wrong. This confirms that Tom Hickey’s dictum “Received knowledge is sticky even when it is shown to be wrong.” applies also to Heterodoxy.

    Poor Wicksell — abused as a testimonial for MMT
    https://axecorg.blogspot.com/2018/04/poor-wicksell-abused-as-testimonial-for.html

    Keynes, Kalecki, MMT and the invention of the perpetual profit machine
    https://axecorg.blogspot.com/2018/11/keynes-kalecki-mmt-and-invention-of.html

    Keynesianism is broke: Get over it!
    https://axecorg.blogspot.com/2016/12/keynesianism-is-broke-get-over-it.html

    Egmont Kakarot-Handtke

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