Marshall Auerback Interviews Bill Mitchell on Modern Monetary Theory
A very nice interview here with Professor Bill Mitchell by Marshall Auerback on Modern Monetary Theory (MMT), which was done at an Institute for New Economic Thinking (iNET) conference in April 2014 in Toronto, Canada. More details here.
Bill Mitchell makes the point that everyone on this blog has so far missed. All "not spending" also carries an inflationary risk as an opportunity cost. There are no golden rules only golden people.
The previous attempts to list inflationary pressures on this blog were very myopic. In reality inflation is also distributional therefore it's not really a scalar ratio.
"All spending carries an inflation risk"
ReplyDeleteBill Mitchell makes the point that everyone on this blog has so far missed. All "not spending" also carries an inflationary risk as an opportunity cost. There are no golden rules only golden people.
The previous attempts to list inflationary pressures on this blog were very myopic. In reality inflation is also distributional therefore it's not really a scalar ratio.