tag:blogger.com,1999:blog-2277215496195926573.post9095140954532419448..comments2024-01-01T07:41:51.347-08:00Comments on RALPHONOMICS: IMF continues to hyperventilate about sovereign debt.Ralph Musgravehttp://www.blogger.com/profile/09443857766263185665noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2277215496195926573.post-21280910646303963902013-05-22T13:00:20.922-07:002013-05-22T13:00:20.922-07:00Thank you for the links Ralph. Very interesting.Thank you for the links Ralph. Very interesting.montmorencyhttps://www.blogger.com/profile/12879422255762834319noreply@blogger.comtag:blogger.com,1999:blog-2277215496195926573.post-21584179237927758742013-05-22T07:18:46.277-07:002013-05-22T07:18:46.277-07:00Hi Monty,
Yes, I agree with most of what Warren M...Hi Monty,<br /><br />Yes, I agree with most of what Warren Mosler says. He actually wrote an article about a hypothetical household consisting of parents and children in which they set up their own currency. He uses that mini-economy to illustrate very nicely some of the fundamental characteristics of money, national debts etc. See:<br /><br />http://www.gate.net/~mosler/frame001.htm<br /><br />I would have mentioned it if it had illustrated the points I made above, but I don’t think it does. It’s worth a read anyway.<br /><br />Another article (written by Paul Krugman) about an equally simple mini-economy which I think is also a “must read” is this:<br /><br />http://www.slate.com/articles/business/the_dismal_science/1998/08/babysitting_the_economy.html<br /><br />Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2277215496195926573.post-40421086657523879442013-05-22T06:40:46.453-07:002013-05-22T06:40:46.453-07:00Ralph,
I recently followed the link to Warren Mos...Ralph,<br /><br />I recently followed the link to Warren Mosler's site, which appears somewhere fairly prominently on your site and read with interest the "Seven Deadly Frauds of Economic Policy" paper, among others.<br /><br />Doesn't he say that the deficit can be basically as big as the government wants it to be, and not only does that not matter, it's actually a good thing, and indeed a budget surplus is a bad thing.<br />(Obviously not so big that it causes inflation though).<br /><br />Quite interesting in any case, although I am not sure I go along with him in all respects.<br /><br />I imagine the IMF are not big Mosler fans.<br /><br />montmorencyhttps://www.blogger.com/profile/12879422255762834319noreply@blogger.comtag:blogger.com,1999:blog-2277215496195926573.post-86983431015438292292013-05-22T02:21:43.677-07:002013-05-22T02:21:43.677-07:00Good post. Pretty clear explanationGood post. Pretty clear explanationTejvan Pettingerhttps://www.blogger.com/profile/03405988099792035111noreply@blogger.com