Sam Williams — Modern Money (Pt 3)

In this post, I will contrast the analysis of foreign trade found in Professor L. Randall Wray’s book “Modern Money Theory” and contrast it to the analysis of foreign trade that logically emerges from Marx’s theory of commodities, money and capital....

A Critique of Crisis Theory
Modern Money (Pt 3)

Sam Williams

Neil Wilson — The Limits of understanding of MMT

I've got a good amount of time for LK's blog. It is my 'goto' blog for good sense on many a topic. But I have to say I'm somewhat disappointed at the latest missive on foreign trade. It still has the usual straw men in it. I really don't understand why PK people can't get their head around the dynamics of floating rate exchange systems and still stick to fixed exchange analysis based around apparent Kaldorian views.

Bill has already debunked the Kaldorian points in his post of a few weeks ago.

I'll take the points in LKs post one at a time.

3spoken
The Limits of understanding of MMT
Neil Wilson

Randy Wray — MMT And External Constraints

Randy agrees with Brian and Neil.

Economonitor — Great Leap Forward
MMT And External Constraints
L. Randall Wray | Professor of Economics, University of Missouri at Kansas City

Neil Wilson — It's the Exporters Stupid

As usual Neil sums it up pithily.

However, in the EZ the exporting countries apparently haven't clued into this obvious fact yet and are killing the geese that lay the gold eggs for their economies by forcing austerity on the periphery and reducing their own exports as the periphery cannot afford them and also seeks to increase its own exports. Yes, Germany, we're talking about you in particular.

3spoken
It's the Exporters Stupid.
Neil Wilson