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.
This sounds interesting but the link justs wastes your time an brain signing up etc for blogger.com. What's the name of the relevant blog? Is there a direct link?
The really great economists (Keynes, Milton Friedman, Warren Mosler etc) use almost no maths to set out their ideas. They are then followed by crowd of time wasters in academia who set out their ideas using strange mathematical symbols...:-)
Steve's model makes the mistake of failing to link the currency to anything real. So it is unanchored and lacks the feedback loop from injection to production via the real circuit that does all the magic.
But it is nice to see Steve finally put the government sector over the top of the credit model he's been pushing all these years. It's just a pity it's in supplicant mode rather than in the driving seat.
5 comments:
This sounds interesting but the link justs wastes your time an brain signing up etc for blogger.com. What's the name of the relevant blog? Is there a direct link?
Yes it is a shame the link does not take you anywhere. I would have liked to read it as well.
The really great economists (Keynes, Milton Friedman, Warren Mosler etc) use almost no maths to set out their ideas. They are then followed by crowd of time wasters in academia who set out their ideas using strange mathematical symbols...:-)
Steve's model makes the mistake of failing to link the currency to anything real. So it is unanchored and lacks the feedback loop from injection to production via the real circuit that does all the magic.
But it is nice to see Steve finally put the government sector over the top of the credit model he's been pushing all these years. It's just a pity it's in supplicant mode rather than in the driving seat.
The link is now fixed. Sorry about that.
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