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.
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Wednesday, August 26, 2020
Bill Mitchell — Presentation to the New Zealand Fabian Society, August 16, 2020
Bill Mitchell is right, macroeconomic concepts are NOT well understood to this day. In particular the concept of profit. This includes all MMTers. See
Refuting MMT’s new Macroeconomics Textbook https://axecorg.blogspot.com/2019/03/refuting-mmts-new-macroeconomics.html
Economics has to move from false Walrasian microfoundations and false Keynesian macrofoundations to true macrofoundations. This Paradigm Shift is an accomplished fact, see the canonical textbook
Sovereign Economics https://www.bod.de/buchshop/sovereign-economics-egmont-kakarot-handtke-9783751946490
Bill Mitchell is right, macroeconomic concepts are NOT well understood to this day. In particular the concept of profit. This includes all MMTers. See
ReplyDeleteRefuting MMT’s new Macroeconomics Textbook
https://axecorg.blogspot.com/2019/03/refuting-mmts-new-macroeconomics.html
Economics has to move from false Walrasian microfoundations and false Keynesian macrofoundations to true macrofoundations. This Paradigm Shift is an accomplished fact, see the canonical textbook
Sovereign Economics
https://www.bod.de/buchshop/sovereign-economics-egmont-kakarot-handtke-9783751946490
Egmont Kakarot-Handtke
This 'paradigm shift' is as much a hope as it is a fact.
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