I have been under some personal time pressure over the last few days because of extended family health issues. One of the things I have not done as a result is work on a the questions for a written Q& A on modern monetary theory with Warren Mosler, one of the founders of that economic school, which he has offered to do.
Then it occurred to me that I might as well open out the question setting process in advance. My aim for this is threefold:
a) To provide short answers to the theoretical basics - so short questions would also help;
b) To deal with the obvious issues that are raised in response to these basics;
c) To deal with the crass comments (from Venezuela / Zimbabwe / Weimar) onwards.
So fire away please. As many as you like. I will edit them though, and hope you will understand.
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Sorry if this has bee asked rushing out of the door this is great.
What will be the Metrics used to speed up or reduce the rate of Money Creation?
Thanks
M
[…] response to my call for questions on modern monetary theory (MMT) has been pretty big. There are 149 right now, and I suspect there will be […]
Question:
If MMT is wrong, how is the effectiveness of the Bank of England, £350m 3% War Loan (1914) subterfuge best explained?
For a quick explanation of the circumstances, the secrecy and scale of the cover-up, see [ https://www.ft.com/content/1a9f7e7e-7c43-11e7-9108-edda0bcbc928 ]. There is a fuller explanation of the subterfuge and cover-up of the failure of the War Loan issue on the Bank of England website.
Is that a question?
I am not sure it fits the theme, to be honest
I think we may need to be more generic
Sorry
I thought it was an interesting illumination of an aspect of (inadvertent?) MMT, drawn from the real world; long before the concept of MMT was properly understood. I am not sure how non-MMT ‘conventional wisdom’ could adequately or convincigly explain it, and was interested to see how it might be approached.
Noted!
Neoliberalism has at it’s core a simple narrative that the man in the street can easily identify with.
Is work being done to develop a simple narrative for MMT so it’s central theme can become easily understood, accepted and internalised by the general public and seen as a real alternative.
I hope so
I rather hope I will be helping that process