tag:blogger.com,1999:blog-2761684730989137546.post8455434588522053455..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Scott Sumner — How many economists can answer this question?mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-2761684730989137546.post-46361146986772068482013-12-24T11:22:58.023-05:002013-12-24T11:22:58.023-05:00The metonymy here is "physics" then the ...The metonymy here is "physics" then the associated false metaphors which follow are:<br /><br />mechanism, velocity, impact, boosts, neutral, inflation, strong, heavy lifting, faster, speed of light, <br /><br />Thats about all I can see....<br /><br />rsp,Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-46176360453827128262013-12-24T03:27:45.912-05:002013-12-24T03:27:45.912-05:00Sumner repeats “NGDP” in every other sentence he w...Sumner repeats “NGDP” in every other sentence he writes, however it’s important not to conflate NGDP with his monetarist ideas. That is, it would be possible to target NGDP using fiscal policy, or the combination of fiscal and monetary policy which I think most MMTers favour (i.e. simply creating new money and spending it, come a recession).Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-49384350879840985622013-12-23T20:52:26.782-05:002013-12-23T20:52:26.782-05:00Sumner and a few others called market monetarists ...Sumner and a few others called market monetarists have been proposing NGDP targeting as a way for the Fed to get past the obstacles it has encountered in reviving the economy with monetary policy. It's being taken seriously of late by some in the mainstream, and it's considered competition to MMT in the policy world as an alternative.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-22709164696131036482013-12-23T20:21:11.355-05:002013-12-23T20:21:11.355-05:00Who is this guy and why does he matter?Who is this guy and why does he matter?Peter Panhttps://www.blogger.com/profile/09473311771939167712noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-10512434829305133052013-12-23T18:33:05.000-05:002013-12-23T18:33:05.000-05:00Its time to start whacking Sumner with a cane. He&...Its time to start whacking Sumner with a cane. He's gone overboard with the monetarist schtick.The Just Gatekeeperhttps://www.blogger.com/profile/06725052297330669528noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-53843584381706952652013-12-23T16:32:37.665-05:002013-12-23T16:32:37.665-05:00"Speed of light puts a limit on the velocity ..."Speed of light puts a limit on the velocity of money." Wow. Not only is he a great economists, but also a buddying physicist.PeterPhttps://www.blogger.com/profile/02032621777697914182noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-54759700991133022912013-12-23T16:12:22.724-05:002013-12-23T16:12:22.724-05:00Amazing amount of errors in one single post! Every...Amazing amount of errors in one single post! Every sentence has like 10 errors and mistakes. <br /><br />This one was pure genius:<br /><br />"Now let’s think about the effect of a sudden and instantaneous 1% boost in the monetary base. Contrary to most macro models, there is an immediate impact on NGDP, although almost certainly less than 1%.... So NGDP might rise by 0.2%, and V might fall by 0.8%, within seconds."Ramananhttps://www.blogger.com/profile/11123448543333785121noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-13769864278792203532013-12-23T14:18:41.666-05:002013-12-23T14:18:41.666-05:00December 23, 2013: banksters celebrate 100 years o...December 23, 2013: banksters celebrate 100 years of absolute sovereignty! <br /><br />http://failedevolution.blogspot.gr/2013/12/december-23-2013-banksters-celebrate_23.htmlsystem failure due to insufficient evolution?https://www.blogger.com/profile/06502935674214763698noreply@blogger.com