billy blog
Posted by WARREN MOSLER on September 28th, 2009
Bill’s done an excellent job on the workings of monetary system.
Click on when you have an extra 15 or 20 minutes to go through it.
billy blog
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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.-
MMT: Taxes function to regulate aggregate demand, and not to raise revenue per se.
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The funds to pay taxes and buy government securities come from government spending.
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September 28th, 2009 at 1:00 pm
I’ve attempted to write up the Chartalism page at Wikipedia. I add to it when I can and as I am able.
I hope to add a part on deriving the accounting identity from the GDP equation very soon.
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September 28th, 2009 at 1:49 pm
very good, it definitely needs work! I emailed it to Paul Davidson to do same as he’s the one who came up with that designation
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September 28th, 2009 at 3:28 pm
It was written several months ago when I was really first introduced to the idea, so it is rough.
For this idea to ever get into the mainstream it needs to be in places where mainstream people can learn about it.
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