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Stephanie Kelton: The Angry Birds approach to understanding deficits

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  • Carlitos
    2016-08-30 11:08:01 PM
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    youtube.com/watch?v=Q1SMjeuyF-Y

    Stephanie Kelton is a highly effective progressive educator of the highest level.

    The incoming Clinton administration should take note.

    "We need a brand new bird."

  • Chet Ruminski
    2016-08-31 11:24:17 AM
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    Carlitos, I listened to the first minute of her lecture and I will listen to the entire presentation tonight. But listening to her introduction I realised there is nothing new in MMT. MMT has simply taken the logical approach to unwinding the years of lies spun by the people who only want to hoard and stagnate money. This world has enough resources to provide a wonderful living for every human on the planet. The simple answer is money velocity. Stagnation is the antithesis. Limited use vs dynamic use.
  • Chet Ruminski
    2016-08-31 11:59:48 AM
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    I agree with the premise but it is shortsighted. You need enforcement in the form of regulations, reforms and taxes to keep money from being stagnated. If not then deficit spending will end up securing trades in the unregulated sector.
  • Carlitos
    2016-08-31 09:25:44 PM
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    Chet Ruminski Wrote: Carlitos, I listened to the first minute of her lecture and I will listen to the entire presentation tonight. But listening to her introduction I realised there is nothing new in MMT. MMT has simply taken the logical approach to unwinding the years of lies spun by the people who only want to hoard and stagnate money. This world has enough resources to provide a wonderful living for every human on the planet. The simple answer is money velocity. Stagnation is the antithesis. Limited use vs dynamic use.

    MMT is not "new" per se as modern money itself is over 2,000 years old. Chartalism predates Keynesianism.

    What MMT does is consolidate and combine the works of Godley's "sector financial balances", Minsky's "financial instability" and "job guarantee", and Lerner's "functional finance," and many other giants in economics before them.

    What's "new" is that MMT applies what was known and now forgotten to today's monetary system.

  • Chet Ruminski
    2016-09-01 06:36:55 AM
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    This is a milder form of control that I would advocate:

    "New Keynesians argue that macroeconomic stabilization by the government (using fiscal policy) or by the central bank (using monetary policy) can lead to a more efficient macroeconomic outcome than a laissez faire policy would."

    How do economist deal with destructive conditions by management such as: reacting to union and labor negatively, shorting expenditures subjectvely.
  • Schmidt
    2016-09-01 07:08:15 AM
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    Carlitos -- I was going to watch the video but then noticed the length. I want to watch it without interruption, so after I do that I'll comment or ask questions. Thanks for sharing it. It will be another place to start a conversation.
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