3 ms·
The response of governments around the world doesn’t look like it’s been informed by Austrian economics, and in places which have implemented some kind of polic
by kdtsh 7y ago
The response of governments around the world doesn’t look like it’s been informed by Austrian economics, and in places which have implemented some kind of policy derived from MMT (esp. Australia) things have been looking pretty good. What would Austrian economic policy have done differently and better?
- RobertoG 7y agoMaybe I'm don't understand it properly, but it seems to me that Austrian economics would predict hyperinflation and high interest rates in Japan the last twenty years when the opposite have happened. As you say Modern Monetary Theory models predict Japan and, also, the missing depressions in Australia.
- chrisco255 7y agoTheir central bank practically nationalized the entire economy: https://research.stlouisfed.org/publications/economic-synopses/2019/07/15/the-asset-holdings-of-the-bank-of-japan https://research.stlouisfed.org/publications/economic-synops... As for Australia they are heading into a deep recession as we speak and who knows if it will be a depression or not but given the state of the world, odds are reasonable.