Been reading today’s MMT posts and this pattern is growing worse by the day: Why do some MMT evangelists reject the cost of borrowing money as relevant to credit supply and demand? MMT implicitly relies on the notion of price setting by government to control supply and demand for labor, commodities and other resources. Credit is no different in the sense it is a monopoly resource controlled by government. Credit growth isn’t as important to economic growth rates in developed economies, yet I find it odd that Mosler prints weekly updates on sector by sector bank credit aggregates in […]
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