Steve Roth — Okay Fine, Let’s Call Investment “Saving.” Or…Not

The discussion of saving and investment continues in the comments there. Please comment there to keep the record in one place.

Asymptosis
Okay Fine, Let’s Call Investment “Saving.” Or…Not
Steve Roth

JKH — Saving, Stock/Flow Consistency, and Kalecki

JKH takes on Bill Mitchell and MMT terminology.

Read it at Modern Monetary Realism
Saving, Stock/Flow Consistency, and Kalecki
by JKH

MMR is directly engaging MMT, which is the first coordinated instance of debate and therefore an encouraging sign of progress. While there have been other debate between economists and MMT, they have not be coordinated and sustained, and many have been rather superficial, since the opposing party was ill-informed about MMT. That seems to be changing.

It's always good to have a nemesis, or as the Native Americans termed it, a "tormentor." Keeps warriors sharp.

The overall issue here is twofold. First, it is getting the professional presentation correct. Secondly, it is about translating the professional presentation into terms that non-professionals can understand, so they can get some insight into the issues and how professionals deal with them.

For example, there are a great many books explaining quantum mechanics to non-physicists, but without the math one simply cannot understand QM. Most fields are like that. One needs the background and tools to grasp them, and simplified explanations are necessarily imperfect compromises. But they should be as accurate as possible without overly complicated matters to the degree that non-professionals cannot grasp them.

This is the different between blogs and introductory courses, and graduate study and professional work.

Joseph Laliberté and circuit — Careful with the saving terminology: a reply to JKH

The debate over saving continues to rage unabated.

Read it at Fictional Reserve Banking
Careful with the saving terminology: a reply to JKH
By Joseph Laliberté and circuit.
(The authors reside in Canada and come from two different heterodox backgrounds, namely, MMT and the post-Keynesian/circuitist tradition.)

Winterspeak — The Myth of High Powered Money

Does the government fiscal deficit flow to savings or equity? Winterspeak says equity and denotes this as NFA (e).

There is already a spirited debate raging in the comments.

Read it at Winterspeak.com
The Myth of High Powered Money
by Winterspeak