The description of MMT that you gave seems to be based on the incorrect views of other people rather than a reading of the materials by MMT scholars.
The description of MMT that you gave seems to be based on the incorrect views of other people rather than a reading of the materials by MMT scholars.
I see that it's like neokeynesian model, which I explained before, so that was implicit. I only talked some differences... I understand that I have a limited knowledge about that, and haven't really read some full article theory whitepaper, just some wikis and sites's summaries. What should I increase or change? What is incorrect? Thanks for your feedback!!
Wikipedia is wrong?
One of the things you said was "if it generates inflation, they rise interest". That's a monetarist/neoliberal approach. MMT would look at Government spending (switching from a quantity rule to a price rule) and taxation, using buffer stocks (such as a job guarantee program) as a price anchor.
Bill Mitchell wrote a couple of good blog posts to explain MMT's relationship with inflation and he wrote about some policy considerations at the end of this one:
http://bilbo.economicoutlook.net/blog/?p=13035
He ends by saying this: " The only way that demand-side policies should be used to effect when there is a supply-side motivated inflation is when there is an employment buffer stock system in place."
Hey sir, I just got back here to say that I read some articles and you are right, they would control gov spendings and rise tributation. Sorry for my missception. Lots of people disagrees also, like Greg Mankiw, Paul Krugman, Warren buffett, saying it would lead to inflation and etc... (What is not ocurring at Japan). But what we are actually seen is the rise of interests, an ortodox keynesian fiscal policy, crazy, huh?! But thanks for the informations you provided early.
Hey bro, I really apreciate any thoughts that can agregate me.
Take this !PIZZA in advance