The theme seems to be “reduce operating spending, increase capital spending”. We’ll see how that will blow over with the opposition.
The theme seems to be “reduce operating spending, increase capital spending”. We’ll see how that will blow over with the opposition.
Tankus has blogged about Krugman’s evolution.
And my “defense of printing money” was not a judgement about the inflationary pressure of doing so, it was a recognition that there are more things to consider - such as the risk of millions of people being evicted from their homes or going hungry.
You’re still trying to put words in my mouth, and you’re not engaging earnestly, so, goodbye
(edit: typo)
So nothing from Krugman himself? Seems reasonable…
Lol, yes by quoting you and adding the exact context.
I strongly recommend, just give a quick look at any of the dozens well rounded critiques of MMT. Some may be a little obtuse if you don’t have an econ background but feel free to reach out and i’ll explain as best I can!
Cheers.
I am pointing to Tankus’ blog because he outlines the things Krugman has said.
Second: would you have not issued CERB and had millions lose housing? Or would you issue CERB and accept some inflationary pressure (keeping in mind that much of the inflation was gouging and supply chain issues)? You had made a blanket statement “issuing currency is drinking bleach” and I gave one of many possible examples for why that is a ridiculous statement.
And in terms of your arrogance around understanding what you’re talking about:
“Taxes fund services” is flat out wrong from a MMT perspective, quite literally it is the most fundamentally wrong thing one could say about it as an economic framework, so I suggest you develop a better understanding of the thing you claim to understand the critiques of. Or perhaps read critiques from those who actually understand it.
Cheers