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Randor
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Posts: 54
Joined: October 8th, 2005, 8:33 am

Seven Deadly Innocent Frauds of Economic Policy - Mosler Economics

November 29th, 2018, 11:32 am

i am curious as to what peoples views are of this - MMT

https://moslereconomics.com/wp-content/ ... s/7DIF.pdf
 
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ppauper
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Joined: November 15th, 2001, 1:29 pm

Re: Seven Deadly Innocent Frauds of Economic Policy - Mosler Economics

November 29th, 2018, 4:27 pm

the first one was addressed back in 1946 by Beardsley Ruml, Chair of the NY Fed
taxes for revenue are obsolete
The Bank of England was established in 1694 after the king had defaulted on loans following a defeat by the French.
Rather than print money himself, which everyone would have seen through, the King would issue bonds and the Bank would print money to buy the bond.
 
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DavidJN
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Joined: July 14th, 2002, 3:00 am

Re: Seven Deadly Innocent Frauds of Economic Policy - Mosler Economics

December 4th, 2018, 3:57 am

It is fascinating reading, at first blush its hard to tell if the guy is the next prophet (profit?) or a nut. There seems to be a lot of the confidence fairy within it, I assume that would be the angle against it that Krugman would take.As for alternate theories of finance, I find the free banking idea espoused by Kevin Dowd and others a lot more realistic, if rather less ambitious.
 
EdmundMKarner
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Joined: December 14th, 2018, 4:13 pm

Re: Seven Deadly Innocent Frauds of Economic Policy - Mosler Economics

December 14th, 2018, 6:30 pm

I think the MMT perspective -- which is really just stock-flow consistent Post Keynesian economic modeling by another time -- is, technically speaking, unimpeachable.  It's really just what happens when you insist that your macroeconomic treatment of money and deficits takes accounting as if it actually exists.

Here is a better explication on the matter by Mosler:



Economist Scott Fullwiler on central bank operations:

http://www.cfeps.org/ss2008/ss08r/fulwi ... ations.pdf

A response to critics from some of the best known MMT/Post Keynesian figures:

https://cas2.umkc.edu/economics/people/ ... %20MMT.pdf

Finally, if you would like to see full-fledged economic models in this vein, here is the best book on the matter -- everything Wynne Godley has written is great as well (sort of taking off from the "Yale school" of modeling after Tobin):

http://dl4a.org/uploads/pdf/Monetary%2B ... Godley.pdf
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