And that's good enough for me-LOL. Hey, no matter what I appreciate his piece and now that he clarifies that we're all good. I still have all kind of questions about Market Monetarism, Monetarism and Modern Monetary Theory.
I really am fascinated by MMT. I will say this for Lars though-he is a very able expositor of the MM view. In the comments section they suggested I'm a bit harsh on Sumner. I would say that when he said something disparaging about Diary of a Republican Hater that did not help him here at Diary.
Then again, in all seriousness I think his arguments are sometimes off. Lately he has just been obsessed with attacking Keyneisans. His attempt to prove the multiplier is "roughly zero" are bound to get a negative rise from us over here.
In general I will say that the blogosphere has been tremendous for economic education whether Right, Center, or Left. The Market Monetarists, while I continue to have some serious questions- . have done a lot to bring economic arguments to the general public.
The one thing I agree with Sumner on is that the blogosphere is a meritocracy. Let the best model win! LOL
I will be looking a lot more into the MMT idea that there never was a barter economy. This is a truly earth shattering claim that will shake the foundations of not only all Monetarism-Market of other-but economics in general.
No comments:
Post a Comment