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View Diary: Keynesian Deficit Doves vs. MMT Deficit Owls (15 comments)

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  •  Essentially, MMT punctures the money illusion (2+ / 0-)
    Recommended by:
    psyched, Letsgetitdone

    and gets back to "what are we actually trying to do in terms of resource allocation?  and what are our constraints in terms of human psychology?"

    Fair description?

    I suspect Keynes would not disagree with the approach, he was very down-to-earth.

    Read pp. 1-7 of Krugman's _The Great Unraveling_ (available from Google Books). NOW.

    by neroden on Mon Jun 27, 2011 at 10:49:23 AM PDT

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