tag:blogger.com,1999:blog-2761684730989137546.post7706282228689529164..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Andrew Batson — Fu Chengyu’s frank talk on SOE reformmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-48526874885968787002017-03-21T20:56:49.874-04:002017-03-21T20:56:49.874-04:00Yes, very interesting. I had not heard of Janos Ko...Yes, very interesting. I had not heard of Janos Kornai.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-40659881823636913242017-03-21T20:08:19.894-04:002017-03-21T20:08:19.894-04:00The Kornai article just after Fe Chengyu article a...<a href="https://andrewbatson.com/2017/03/13/the-continuing-relevance-of-kornai-for-china/" rel="nofollow">The Kornai article just after Fe Chengyu article at Batson's blog describes the soft budget constraint (similar to MMT's concept) as opposed to a hard budget constraint (debt limit, deficit, current account balance). </a> Every MMT advocate should use this way of thinking about productivity, wealth and surpluses when describing MMT's soft-budge view on real resource and labor constraints. It's brilliant.Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.com