This turned into MMT vs. Rogoff. The problem I have with this (framing) is basically that one side (MMT) asserts that monetary mechanisms, lack of a gold standard, read your Marx, "if you only understood MMT" etc... basically means that this time it's different.
And Rogoff''s book is called This Time It's Different.
I would score that for Peterson and the boys in terms of PR.
I think most people would relate better to a solution that plays to the interests, incentives, and obtainable policies that exist already.
The austerity camp has its stuff together on that front.
Dennis: thanks for the Varoufakis tip. He has contributed a lot of good stuff in recent years.
On 11/26/12, Doug Henwood <dhenwood at panix.com> wrote:
>
> On Nov 26, 2012, at 10:00 AM, Shane Mage <shmage at pipeline.com> wrote:
>
>> He rejects them because they are derived from contradictory premises about
>> economic and expenditure growth. Therefore invalid by definition, ie.,
>> "no way." The CBO is nothing but bipartisan bullshit, always has been
>> always will be.
>
> "No way" and "bipartisan bullshit" - now those are seriously rigorous
> responses!
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