tag:blogger.com,1999:blog-3758330678390419129.post7720946094955242691..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: An MMTer on Carney's View of Austrian -MMT SimilaritiesRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3758330678390419129.post-41281934684296637572012-01-04T21:24:52.852-05:002012-01-04T21:24:52.852-05:00http://mises.org/daily/1889 Money Multipler Mythhttp://mises.org/daily/1889 Money Multipler MythAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-24247959482206336662011-12-29T11:41:50.492-05:002011-12-29T11:41:50.492-05:00Could not MMT be helpful in describing how the cur...Could not MMT be helpful in describing how the current system works in practice? For example, MMT likes to talk about how the "money multiplier" of fractional reserve banking works differently from the traditional explanation. The common story is that banks take X dollars in, keep the reserve percent, end lend the rest out, multiplying the money supply, potentially many times over as Ben Kennedyhttps://www.blogger.com/profile/02993765107497016319noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-82836806846465297652011-12-29T08:17:35.748-05:002011-12-29T08:17:35.748-05:001. The MMTers are crowing about their favorable t...1. The MMTers are crowing about their favorable treatment by “The Economist” which simultaneously distorts and misrepresents the Austrian School. Somehow, a non-Austrian just cannot comprehend the concept of economic calculation.<br /><br />http://tinyurl.com/co7y7pc<br /><br />2. The difference between “government” and “society”: “We’re only stealing from ourselves”. <br /><br />“We” and “Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-82694992598845464132011-12-28T17:54:12.402-05:002011-12-28T17:54:12.402-05:00I think Roche was referring to your view (and Roth...I think Roche was referring to your view (and Rothbard's) that you can somehow separate a government from its society and a society from its money. You obviously didn't pick up on this component of the argument.LVGhttp://none.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-4225312094246455882011-12-28T13:40:53.426-05:002011-12-28T13:40:53.426-05:00"It is difficult to make predictions, especia..."It is difficult to make predictions, especially about the future". Yogi Berra.<br /><br />Thanks for the links, A-CC. <br /><br />The Keynesians, Minskyites and MTTers either fail or refuse to understand economic calculation. Unadulterated FREE MARKET PRICES are the best guide to the future. Without free market prices, economic calculation is impaired. Impairment of economic Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-87668376691553464352011-12-28T12:35:39.988-05:002011-12-28T12:35:39.988-05:00Jack Sparrow smacked down the MMTers in December ...Jack Sparrow <a href="http://seekingalpha.com/article/242669-the-trouble-with-modern-monetary-theory" rel="nofollow"> smacked down the MMTers in December 2010.</a><br /><br /><em><b>MMT says there will always be a demand for currency because of taxes and payments and transactions.</b> We rebut this by pointing out how easy it is to avoid holding a currency, even your own local one, by conducting Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.com