Monday, November 28, 2016

Bill Mitchell on “What’s New in Modern Monetary Theory”

Bill Mitchell gives the keynote presentation at a Post Keynesian conference held at the University of Missouri-Kansas City (UMKC) in September, and the title is “What’s New in Modern Monetary Theory”:

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  1. Quite a lot of misrepresentation in the Post-Keynesian economics slide.

    1. Can you give examples? For now, PK seems superior from what I know of it and MMT, which isn't much, i.e. "what's modern in MMT is wrong and what's right isn't modern". But I'd like to know more about it

    2. In the blog where he quotes Godley and Cripps, he posted this video. They never have the condition r<g as a debt sustainability condition. So that's flat out wrong. Wynne Godley was strongly a fiscal policy person and never said the thing about "upturns" ... and so on.

  2. FYI, this might be of some interest: