“The Reagan Revolution in One Graph”

August 15th, 2011
  1. August 16th, 2011 at 07:43 | #1

    I’ve looked in vain for the previous post where I/we/others speculated whether Steve Keen’s theories are consistent with MMT as presented by, e.g., Randy Wray, especially on the question of private debt/money creation – and so I apologize now for using this space to mention that Keen’s posting this semesters lectures at YouTube:

    http://www.youtube.com/user/ProfSteveKeen?feature=mhee#p/u/3/KWUG1n1jEJI

    At about 10 minutes into the first, he specifically mentions Bill Mitchell, Warren Mosler, and Randy Wray, and says that though he shares many of their positions, he disagrees “at the extreme” – though he gives no details and I guess future lectures will explain why. So, at least we now know that Keen believes that his work reaches different results than that of MMT… I’d have sent an email, but I couldn’t find a contact icon ….

  2. August 19th, 2011 at 07:08 | #2

    Thanks, Dave. Been out of town, so sorry about slow response. Here’s that comment thread:

    http://www.asymptosis.com/does-reducing-the-federal-debt-cause-financial-collapse.html#comments

    I’d really like to see a discussion between Randall Wray and Steve Keen. Could be fascinating.

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