582 posts
Joined January 2014
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- Following 25
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2 Photos and videos
Clinton Murdoch retweeted
11 Apr 2023
Ha Joon Chang on the ideology of (neoclassical) economics. šš½x.com/eschatonik/status/1619ā¦
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Clinton Murdoch retweeted
26 May 2022
Today we publish the first detailed academic analysis of the mechanics of the UK's spending, taxation and borrowing mechanics as an @IIPP_UCL WP.
Bad news for the MMT sceptics out there I'm afraid.
The government always creates new money when it spends.
newstatesman.com/economy/202ā¦
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Clinton Murdoch retweeted
6 May 2022
The whole explanation was the wrong solution in search of the wrong problem. I think what the RBA should have said is: āthere is a political and market expectation that we donāt understand supply-side inflation, so weāve decided to behave like we, in fact, donāt.ā
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Clinton Murdoch retweeted
7 Feb 2022
MMT DESERVES ITS VICTORY LAP
For the @markets newsletter today, I wrote about You Know What.
Sub here:
bloomberg.com/account/newsleā¦
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Clinton Murdoch retweeted
3 Mar 2021
Why canāt people just state the obvious?
Itās not really borrowing.
Itās not really debt.
And everything has already been āpaid for.ā
ft.com/content/53cb3f6a-895dā¦
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Clinton Murdoch retweeted
27 Jan 2021
GameStop sitting amongst Tesla and Amazon after reddit users make it a Fortune 500 company
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Clinton Murdoch retweeted
7 Jan 2021
The Democrats tolerated decades of inequality and injustice, abandoning those they should represent 4 those who are already rich & never cease to want more. The Republicans tolerated bigotry, racism and a personality cult worthy of a failed state. Start again, both of you. Now.
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22 Jul 2020
A brief and near flawless summary
Clinton Murdoch retweeted
19 Jul 2020
@AlanKohler discusses #MMT on @abcnews last night.
A fantastic brief explainer on how government financing actually works. Government budgets aren't like household budgets.
A crucial piece in the context of the economic response to coronavirus
#auspol
youtu.be/-1Yw4jdkQL4
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Clinton Murdoch retweeted
18 Jul 2020
Why is it that the government can make a promise to pay that is better than anyone elseās? Two reasons. First, only it can create money: itās a monopoly supplier. And, second, its promise to pay is backed up by its legal right to tax. And thatās what gives our money its value.
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Clinton Murdoch retweeted
12 Jul 2020
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Clinton Murdoch retweeted
24 Jun 2020
Why would replacing interest-bearing currency (gov bonds) with non-interest-bearing currency (AU$) debase the currency? Youāre paying out *more* currency over time if you leave people holding bonds vs removing that interest income from private hands.
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Went home and googled Bill Mitchell @billy_blog and opened my eyes to how the world actually worked. Suddenly it all made sense.
Now reading #TheDeficitMyth by @StephanieKelton. Great book. Policies can be debated on merit rather than whether they can be monetarily financed
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Clinton Murdoch retweeted
21 Jun 2020
Just to be clear, MMT is not a policy to be implemented. It simply observes that there are no financial constraints on gov spending, since governments create their own money. The constraints are in the resources of the economy, which are limited.
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Clinton Murdoch retweeted
23 May 2020
Taxes paid to the government that issues the currency donāt pay for anything. They do four things:
1. Help prevent inflation
2. Underpin demand for the currency
3. Redistribute wealth
4. Change behaviour (smoking etc)
Govāt spending creates money, taxation destroys it. #MMT
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3 Apr 2020
This is literally the bullshit they teach in undergraduate economics textbooks
2 Apr 2020
Demand for leisure increased at the same time demand for travel and restaurants decreased-- very puzzling situation.
Clinton Murdoch retweeted
28 Mar 2020
At this point, the key question is not "how will you pay for it?" but "how will you deploy the money?" Is it being funnelled to the usual suspects, or is there a genuine attempt to align gov't spending with broader public purpose? The initial indications in the US are not great.
28 Mar 2020
May #COVID19 put to rest once and for all the absurd
"but how will you pay for it" question.
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Clinton Murdoch retweeted
27 Mar 2020
"How will you pay for it?" is exposed as the fraudulent concern-trolling it's always been interc.pt/2QRVN2F by @StephanieKelton
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