If you, too, are living in one of the sub-zero climes right now, you want some stimulating reading for Friday.
- Here’s one of the best and fairest summaries of MMT that I’ve seen:
As Joe says: “Few matters of economic importance are as woefully misunderstood as modern money. It can seem a fiendishly complicated subject, even to economists. Schumpeter confessed to never having understood money to his own satisfaction, while Keynes claimed to know of only three people who really grasped it: ‘A Professor at another university; one of my students; and a rather junior clerk at the Bank of England’.”