Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.
Sunday, 30 June 2013
Deficits and national debts for dummies.
This flowchart explains national debts and deficits. It's Modern Monetary Theory compliant, I think. Perhaps even the folk at the IMF and OECD may understand it. For full view click here.