tag:blogger.com,1999:blog-2761684730989137546.post7353954252600301161..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Modern Monetary Theory: Let's look at it from India's perspective — Niranjan Rajadhyakshamike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2761684730989137546.post-87062638195488317562021-02-10T17:50:04.719-05:002021-02-10T17:50:04.719-05:00Always thought this was the only constructive &...Always thought this was the only constructive & relevant criticism of MMT ever since Ramanan brought it up<br />MMT does not disagree with Niranjan<br /><br />What about Balance of Payments Constraints/Crises?<br />https://modernmoney.wordpress.com/faqs-2/#14<br /><br />Also good thread here: https://twitter.com/J_MoAGoGo/status/1287804666848382978?s=20Senexxhttps://www.blogger.com/profile/07344278873799858867noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-47469954714017995772021-02-10T17:18:30.203-05:002021-02-10T17:18:30.203-05:00author saying the nation "needs" the [in...author saying the nation "needs" the [insert abstraction here] "to" [insert activity here] <br /> is a reification error... treating the abstraction as if it is real...<br /><br />"needs the THREE to be able to buy THREE bananas..."Matt Frankohttps://www.blogger.com/profile/11082502216984169113noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-31730987032694274302021-02-10T11:22:43.327-05:002021-02-10T11:22:43.327-05:00Matt: I think that it is an error, but not reifica...Matt: I think that it is an error, but not reification.Marian Rucciushttps://www.blogger.com/profile/12104215453386195003noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-74143456495396454462021-02-10T08:04:34.974-05:002021-02-10T08:04:34.974-05:00“ to get the dollars it needs to fund its current ...“ to get the dollars it needs to fund its current account deficit.”<br /><br />reification error...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-19110090375135137232021-02-10T03:52:33.242-05:002021-02-10T03:52:33.242-05:00India needs foreigners to buy domestic assets to g...<i>India needs foreigners to buy domestic assets to get the dollars it needs to fund its current account deficit. </i> Niranjan Rajadhyaksha<br /><br />A losing proposition - productive assets for a "mess of pottage." The PTB selling out their own country?Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-70659993683821303222021-02-10T02:35:26.715-05:002021-02-10T02:35:26.715-05:00The labour market is informal. Employment is often...<i>The labour market is informal. Employment is often seasonal. There is a persistent problem of disguised unemployment. Labour force participation is low, especially for women. The structural challenge is to create jobs outside agriculture. </i> Niranjan Rajadhyaksha<br /><br />Sounds to me like a country that is largely free of wage-slavery - where many are housing and food secure. And he wants to change that? Mr. Rajadhyaksha should look at the US where even in this very rich country very many are insecure in housing and food and being able to work productively.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.com