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| Warren Mosler |
If anything he appears to be an even greater inflationist,
Below is our exchange.
Wenzel email:
Dear Mr. Mosler,
I recently had the below email exchange with Prof. Wray.Mosler email:
A Top MMTer Informs: When Exactly MMTers Would Start to Battle Price Inflation
I am wondering if your thinking on rates of inflation and length of inflation that would be a concern is in line with his.
Thank you for your help on this matter.
Robert Wenzel
EconomicPolicyJournal.com
That's entirely a political decision.
Inflation doesn't hurt output and employment, and may even help, according to studies.
But generally voters don't like it.
So politicians respond to the voters in that regard.
best
warren
Warren Mosler-RW
Valance Company, Inc.
1215 King Cross
Christiansted, USVI 00820
www.moslereconomics.com
http://twitter.com/wbmosler
'The 7 Deadly Innocent Frauds'
http://www.moslereconomics.com/2009/12/10/7-deadly-innocent-frauds/
Inflation doesn't hurt output and employment, and may even help, according to studies.
ReplyDeleteBut generally voters don't like it.
So politicians respond to the voters in that regard.
Because Keynesians have refuted Austrian analysis point by point, right? Don't lose track of this outstanding quote.
Austrians and libertarians must come up with a method to engage this type of statist non-engagement. If this had been a civil business lawsuit, the judge would have awarded sanctions against the Keynesians and MMTers for purposefully failing to engage the opposing position. It should not be that hard to get the public to notice this endless failure to engage which tells me the Keynesians know that they cannot defend their positions.
I was going to copy and paste the exact same quote, "Inflation doesn't hurt output and employment, and may even help, according to studies." That doesn't even make sense on the surface. Why not price a gazillion dollars and see how output and employment adjust.
Delete"output and employment" - There you have it. The sum total of our economy. Why consider anything else?
ReplyDelete"...according to studies."
ReplyDeleteSo epistemologically he's an empiricist? Maybe we can beat him by showing alternative studies.
They haven’t recognized that we have vast inflation today. We just export it. Prices here haven’t risen since we don’t make anything here. Prices have risen in other countries. As soon as the price gets to high in one country we shift to another country and start over. Mosler is right on the political tax problem. That’s why you need arguments for reducing the income imbalance by raising taxes on the rich. That’ll reduce money supply as long as govt spending doesn’t increase.
ReplyDelete