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.
Friday, 24 July 2015
Greek GDP collapse.
The recent collapse in Greek GDP is mild compared to some episodes of GDP collapse over the last century. Greece is at the bottom of the chart below.
H/t to Coppola Comment.