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Oversimplified, but a very good visual representation of the scale of recent money-printing. MMT is being tried in realtime, even as the debate roundly defeats
by Wolfenstein98k 6y ago
Oversimplified, but a very good visual representation of the scale of recent money-printing.
MMT is being tried in realtime, even as the debate roundly defeats it.
- core-questions 6y agoHave you seen any solid, readable critiques anywhere I could read?
- zeckalpha 6y agoRay Dalio has been writing a series on this.
- Ericson2314 6y agoI recommend https://www.ineteconomics.org/perspectives/blog/mainstream-macroeconomics-and-modern-monetary-theory-what-really-divides-them https://www.ineteconomics.org/perspectives/blog/mainstream-m... for while MMT is nearly as divergent from the mainstream than is hyped. This comparison makes both clearer.
- stephen_g 6y agoNonsense. MMT is a theory of how government finance works and interacts with the foreign and private sectors (including money, banking and debt). It’s not something you try. Overt Money Financing (OMF) is a policy option that MMT opens up, and there are probably shades of that in what’s going on, but I don’t see a whole lot of fiscal or monetary policy that actual MMT economists would say is a good idea.
- tylerhou 6y agoExactly — this is nowhere close to MMT. Stabilizing the price of the USD during recessions is literally the definition of Keynesian.
- ric2b 6y ago> Stabilizing the price of the USD during recessions is literally the definition of Keynesian. Except the reverse doesn't happen (since the gold standard was dropped), so it's at best "half-Keynesian": https://fred.stlouisfed.org/series/fedfunds https://fred.stlouisfed.org/series/fedfunds