- 09 Sep 2019 08:42
#15032825
Prof. Mark Blyth has a new video out. Titled, “So can we have it all?” It’s dated 7/16/2019.
He says quite a lot about MMT. Like, he says that after Brexit the UK will see food prices rise because the Pound will fall. He doesn’t say one way or the other if this will stabilize {which would mean the there would be no inflation, because inflation must be ‘on-going’} or if it would not stabilize and there would be inflation. This is to Prof. Bill Mitchell a huge difference. Mark says that because the dollar is the world’s reserve currency the US can do much more deficit spending by taking advantage of what MMT allows, but doesn’t say that Canada, Australia, etc. can. He never mentions Japan which Prof. Bill Mitchell says has been deficit spending for 20 to 30 years and not seen a fall in the yen.
I have a lot of trouble following it on the 1st watch. It seems like he uses many words and phrases that an economics student will know, but I don’t .
Prof. Blyth is even talking about an MMT type Job Guarantee program but with a different name. A JG replaces using a buffer against inflation using the suffering of the unemployed with a buffer against inflation using a JG program where everyone who wants a job {and can show up on time and to the work} will have a job until the private sector offers her/him a better job.
In the US with a wage of $5 over the current $7.35/hr. But he doesn’t mention ‘benefits’, so only a sort of MMT like JG program.
The link,
If you want to listen to a 1 hr. talk by Mark to see what this currently popular contrarian economist is saying to his followers.
McMaster Humanities
Published on Jul 16, 2019
This lecture is part of the McMaster Department of Philosophy’s Summer School in Capitalism, democratic solidarity, and Institutional design.
He says quite a lot about MMT. Like, he says that after Brexit the UK will see food prices rise because the Pound will fall. He doesn’t say one way or the other if this will stabilize {which would mean the there would be no inflation, because inflation must be ‘on-going’} or if it would not stabilize and there would be inflation. This is to Prof. Bill Mitchell a huge difference. Mark says that because the dollar is the world’s reserve currency the US can do much more deficit spending by taking advantage of what MMT allows, but doesn’t say that Canada, Australia, etc. can. He never mentions Japan which Prof. Bill Mitchell says has been deficit spending for 20 to 30 years and not seen a fall in the yen.
I have a lot of trouble following it on the 1st watch. It seems like he uses many words and phrases that an economics student will know, but I don’t .
Prof. Blyth is even talking about an MMT type Job Guarantee program but with a different name. A JG replaces using a buffer against inflation using the suffering of the unemployed with a buffer against inflation using a JG program where everyone who wants a job {and can show up on time and to the work} will have a job until the private sector offers her/him a better job.
In the US with a wage of $5 over the current $7.35/hr. But he doesn’t mention ‘benefits’, so only a sort of MMT like JG program.
The link,
If you want to listen to a 1 hr. talk by Mark to see what this currently popular contrarian economist is saying to his followers.