Dirk Ehnts quote and comment on it by Lars.
It doesn't get much clearer than this. Can the conventional economists understand it though, considering the baggage they bring? Simply put, they do not start that the beginning so it is no wonder they get lost on the way with their "axiomatic" deductive approach instead of a balance sheet approach.Lars P. Syll’s Blog
The main insight of MMT
Lars P. Syll | Professor, Malmo University
3 comments:
The obsession amongst economists with the rate of interest borders on the insane.
For anybody who has spent any time in business bank interest is little more than a rounding error. The standard error on the sales projections alone are several orders of magnitude greater.
It's pretty clear that public usury is a 400 year old mistake and we should halt the practice. If for no other reason than to stop economists wittering on about it.
Leave the rate of interest to the private sector to sort out between them. It's no more a central concern than any other private sector business or pricing decision.
“ MMT assumes that government spending is financed by money creation.”
Reification error by Ehnts… “money is real!”…
Might as well just sign up for full Monetarism…
"The obsession amongst economists with the rate of interest borders on the insane."
Absolutely. Monetarism is a mental illness.
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