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, 12 October 2014
Fiscal policy in the 1930s.
"Fiscal policy seems to have been an unsuccessful recovery device in the 30s - not because it did not work, but because it was not tried."
— wonkmonk (@wonkmonk_) October 11, 2014